Offer Update

Banco Bilbao Vizcaya Argentaria SA
19 February 2004




                              OTHER DISCLOSURES

Following with the relevant disclosure sent on February 2, 2004, BBVA reports
that the Mexican Comision Nacional Bancaria y de Valores has authorized the
public bid for the acquisition of approx. 40.6% of the share capital of the
financial institution, GRUPO FINANCIERO BBVA BANCOMER, S.A. de C.V. (BANCOMER),
launched by BBVA. The offer will begin today and will expire on March 19,
according with the Mexican Prospectus registered with the Mexican Stock Exchange
(www.bmv.com.mx) and the US Offer to Purchase.







                                                               February 19, 2004


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