Offer Update

Banco Bilbao Vizcaya Argentaria SA
19 February 2004


                               OTHER DISCLOSURES

BBVA reports that the Secretaria de Hacienda y Credito Publico, the Mexican
banking supervisor, has authorized BBVA to increase up to 100% its stake in
GRUPO FINANCIERO BBVA BANCOMER, S.A. de C.V. (BANCOMER), through the public bid
that has been authorized by the Mexican Comision Nacional Bancaria y de Valores.

                                                               February 19, 2004

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