Disposal

Banco Bilbao Vizcaya Argentaria SA
7 September 2001


Today, CORPORACION DE ALIMENTACION Y BEBIDAS, S.A., subsidiary at 100% of BANCO 
BILBAO VIZCAYA ARGENTARIA, S.A., has given an irrevocable commitment of sale of 
its ownership in BODEGAS Y BEBIDAS, S.A., which represents 39.1% of the company 
stock capital, in favour of ALLIED DOMEQ ESPANA, S.A., who has applied to CNMV 
(the Spanish Securities and Exchange Commission), today, a Public Offer of 
Acquisition of shares, targeted to 100% of the BODEGAS Y BEBIDAS, S.A. stock 
capital.

The price offered is 15.7 euros each share of BODEGAS Y BEBIDAS, S.A., and 
subject to the acceptance of, at least, 50.01% of its stock capital.