Disposal

Banco Bilbao Vizcaya Argentaria SA
21 March 2000

BBVA                                             Madrid, 20th of March 2000

Banco Bilbao Vizcaya Argentaria, S.A. publishes that today shares equivalent to
2.47% of the stock capital of SOGECABLE, S.A. have been sold, at Euros 63.42 per
share, which have been transmitted to PRISA (1.53%), BANKINTER (0.29%),
CORPORACION FINANCIERA ALBA (Grupo March) (0.39%) and EVENTOS (0.15%).
Furthermore, the transmission of another 1.53% of the capital of the same
company to CANAL+FRANCE has been committed, once the correspondent
authorizations are obtained. 

This transaction is involved in the strategic policy of portfolio turnover done
by BBVA in the companies where it has stake. 

After that, the stake of BBVA reaches % of the SOGECABLE, S.A.  stock capital.