Further re Acquisitions

Banco Bilbao Vizcaya Argentaria SA
12 June 2006



Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), pursuant to the provisions of
article 82 of the Spanish Securities Market Act, proceeds by means of the
present document to notify the following:


                                 RELEVANT EVENT
 

As was disclosed today in two previously published 'relevant events', BBVA has
reached two agreements for the acquisition of two USA banking groups quoted on
the Nasdaq: Texas Regional Bancshares Inc. and State National Bancshares Inc.

BBVA shall finance these acquisitions with internal resources, among which the
funds raised through the sale of its stake in Banca Nazionale del Lavoro,
disclosed to the market through the relevant event of May 12, 2006, and the
proceeds from the sale of its 5.04% stake in Repsol YPF. This sale will be made
through the closing and settlement of hedging  equity swaps previously
contracted; therefore it is not foreseeable that their execution will have a
relevant impact on the market. This transaction will represent for BBVA gross
capital gains of €523 million. With the latter divestment BBVA will cease to
have a stable stake in Repsol YPF, in which board it ceased to participate as of
June 2, 2005, in order to comply with the resolution of the National Energy
Commission of April 28, 2005.

Tomorrow, at 9.30 a.m. (Madrid time) the transactions shall be presented to
analysts and investors. There will be a live webcast of the presentation which
may be accessed from BBVA's corporate site (www.bbva.com) and which will be
available for replay at BBVA's corporate web during at least the following
month.



                                                           Madrid, June 12, 2006


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