Publication Offering Memorand

Banco Bilbao Vizcaya Argentaria SA
11 September 2007


Publication of Prospectus

The following Offering Memorandum has been approved by the UK Listing Authority
and is available for viewing:

Offering Memorandum dated 7 September,  2007 relating to the issue of Banco
Bilbao Vizcaya Argentaria, S.A. $1,000,000,000 5.75 per cent Covered Bonds due
2017.

To view the full document, please paste the following relevant URL into the
address bar of your browser.

http://www.rns-pdf.londonstockexchange.com/rns/6566d_-2007-9-11.pdf

http://www.rns-pdf.londonstockexchange.com/rns/6566d_2-2007-9-11.pdf


For further information, please contact

Cristina Cortadi Fernandez
Banco Bilbao Vizcaya Argentaria, S.A.
Paseo de la Castellana, 81
Madrid
Tel: [phone]
Email: [e-mail]


DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Prospectus may be addressed to
and/or targeted at persons who are residents of particular countries (specified
in the Prospectus) only and is not intended for use and should not be relied
upon by any person outside these countries and/or to whom the offer contained in
the Prospectus is not addressed. Prior to relying on the information contained
in the Prospectus you must ascertain from the Prospectus whether or not you are
part of the intended addressees of the information contained therein.

Your right to access this service is conditional upon complying with the above
requirement.


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