First interim dividend 2005

Banco Bilbao Vizcaya Argentaria SA
14 June 2005



'BBVA, S.A.', pursuant to the provisions of article 82 of the Spanish Securities
Market Act, proceeds by means of the present document to notify the following:


                         SIGNIFICANT EVENT

                FIRST INTERIM DIVIDEND FOR YEAR 2005


The BBVA Board of Directors in its meeting held today, has approved the
distribution, as first gross interim dividend against 2005 results, of euros
0.115 for each of all current issued shares, which is a 15% increase with regard
to the 2004 first interim dividend. This interim dividend will be paid on July
11th, 2005.


Gross dividend

     0.115 euros per share.

Withholding tax rate

     15%


Business days

     Record:                     July 8th, 2005
     Ex-dividend:                July 11th, 2005
     Payment:                    Upon July 11th, 2005

                                                         Bilbao, June 14th, 2005


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