Disposal

Banco Bilbao Vizcaya Argentaria SA
11 July 2001

          
          BBVA WILL REACH UP TO A 10% PARTICIPATION IN WAFABANK

Madrid.- BBVA announces today the sale of its subsidiary in Morocco, 
BBVA-Marruecos, to Wafabank. Within the framework of this transaction BBVA will
increase its position in Wafabank from the present 8.11% up to 10%.

BBVA-Marruecos is a subsidiary of BBVA with an equity, as of December 31, 2000,
of 2,470 million pesetas, has the purpose of providing financial services to the
Spanish companies operating in this country. Its integration in Wafabank, a
company in which BBVA is one of the reference shareholders, is according the
common target of both banks for doing the best service to the Spanish companies.
So BBVA will set up a Relation Office specialized in financial services for
their customers in Morocco.

Wafabank is the third private bank in Morocco, with assets of 651,000 million
pesetas and 164 branches. Besides, Wafabank is the leader among the Morocco
banks in technological developments applied to the banking sector.