Statement re Placement

Banco Bilbao Vizcaya Argentaria SA
05 June 2003




                              OTHER NOTIFICATIONS



BBVA reports that it has reached an agreement with Lehman Brothers as sole
insuring entity, for the placement amongst institutional investors, at a price
of 16.90€ per share, of the 16.2 million shares of Credit Agricole, S.A., which
it will receive as a consequence of the acceptance of the public takeover offer
presented by Credit Agricole, S.A. and SACAM Development regarding the share
capital of Credit Lyonnais.


Following the execution of this agreement, BBVA will obtain, as a result of the
divestment in Credit Lyonnais, total capital gains of approximately 353 million
euros (both through the aforementioned sale of shares of Credit Lyonnais and
through the compensation received in cash in accordance with the terms of the
public offer).








                                                                     5 June 2003






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