Dividend Declaration

Banco Bilbao Vizcaya Argentaria SA
17 December 2002



'BBVA, S.A.', pursuant to the provisions of section 82 of the Securities Market
Act, hereby announces the following


                               SIGNIFICANT EVENT


BANCO BILBAO VIZCAYA ARGENTARIA, S.A. informs that, in the meeting held today by
its Board of Directors, it has been agreed the payment of a third interim
dividend of the year 2002 for a gross amount of 0.09 euros per share, to be paid
on 10 January 2003.


                                                                17 December 2002

_____________________________________________________________________


                               SIGNIFICANT EVENT

Regarding the project of the public offer for the acquisition of capital stock
of Credit Lyonnais, which has been presented on this day by Credit Agricole,
S.A. and SACAM Development before the Conseil des Marches Financiers, in which
an offer is made for the allocation of 148.24 euros and 5 shares in Credit
Agricole, S.A. for every 4 shares in Credit Lyonnais (which implies valuing each
share in Credit Lyonnais at a unitary price of 56 euros, taking into account the
quotation of the day immediately preceding the submission of the offer), BBVA
informs, as holder of 13,011,030 shares in Credit Lyonnais, that it has
undertaken with the offerers to accept the offer made. This undertaking, which
is subject to the prior approval by the competent authorities, is to be
understood without prejudice to the right of preferential purchase that the
shareholders agreement for Credit Lyonnais, to which BBVA is a party, grants to
those subscribing to the same.


In the event that presentation was effected of subsequent competing offers that
were declared admissible by the competent authorities, the aforementioned
undertaking would be rendered null and void. Nonetheless, if in such a
circumstance Credit Agricole, S.A. and SACAM Development submitted an improved
offer, BBVA undertakes to attend to said offer, provided that: a) the proportion
of cash/shares of the initial offer is maintained and b) the amount of cash
proposed is at least equal to that considered in the best competing offer.


                                                                16 December 2002

_____________________________________________________________________


                              OTHER COMMUNICATIONS


Pursuant to the communication of 2 December 2002, BBVA notifies the outcome of
the

offer of acquisition of shares in Banco Continental submitted by the Peruvian
company Holding Continental, 50% of whose stock is held by BBVA, once the period
of acceptance of the same has concluded. The outcome of the aforementioned offer
has been the acquisition of 8.8355% of the capital stock of Banco Continental,
with the present capital share of Holding Continental and its subsidiaries in
the aforementioned Bank amounting to 91.5124%.


                                                                16 December 2002


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