Dividend Declaration

Banco Bilbao Vizcaya Argentaria SA
27 June 2003






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

                               SIGNIFICANT EVENT


                      FIRST INTERIM DIVIDEND FOR YEAR 2003

The Board of Directors of Banco Bilbao Vizcaya Argentaria, S.A., in the meeting
held today, has approved the payment of the first interim dividend for year
2003: 0.09 euros per share.




Gross dividend


        0.09 euros per share.


Withholding tax rate


        15%


Business days


        Record :          July 9th, 2003

        Ex-dividend:          July 10th, 2003

        Payment:          Upon July 10th, 2003












                                                                  June 27th 2003


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