Re Disciplinary Proceedings

Banco Bilbao Vizcaya Argentaria SA
30 May 2002



BANCO BILBAO VIZCAYA ARGENTARIA, S.A. reports that the Securities and Investment
Board (Consejo de la Comision Nacional del Mercado de Valores) has resolved to
initiate disciplinary proceedings against the bank for possible violation of the
Securities Market Act (Ley del Mercado de Valores), and to lodge said resolution
with the Central Trial Court No. 5 (Juzgado Central de Instruccion no. 5) of the
High Court (Audiencia Nacional), on the understanding that the circumstances
giving rise to the proceedings are already being tried by this court.

The proceedings, therefore, refer to the same circumstances concerning which the
BBVA, on its own initiative, informed the Bank of Spain, reported by means of
Notifications of Significant Event on 22 March and 9 April 2002. 



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