Statement re. Press Comment

Banco Bilbao Vizcaya Argentaria SA
24 April 2002


                COMMUNICATION FROM BBVA'S BOARD OF DIRECTORS

                BBVA denies the accusations related to illegal
                  activities in Puerto Rico and Latin America

               The Board of BBVA expresses its unconditional
              support for the CEO Jose Ignacio Goirigolzarri and
               backs the total clarification of the facts under
                               investigation

In reference to recent media news articles through which its been made known
that the District Attorney's office has requested an investigation of the Chief
Executive Officer of BBVA, the Board of Directors of BBVA hereby states:

1. Up to today, and acting with the due respect to the confidentiality of the
   investigation conducted by the judge. BBVA has limited its comments to
   denying the accusations published in certain media regarding BBVA activities
   in Puerto Rico and its Latin American acquisitions. It has been BBVA's
   understanding that this approach would facilitate the clarification of these
   events in order to accord the most stringent respect for the judicial
   proceedings, as well as for the Judge's duties.

2. When the District Attorney's proposal involving the current CEO and other
   former BBVA executives in activities related to Puerto Rico and Latin America
   was released today, we have been able to verify that these accusations are
   exclusively based on allegations by Nelson Rodriguez. Mr. Rodriguez, a former
   legal counsel for BBV Puerto Rico, has previously been convicted by a U.S.
   court for misappropriation of the Bank's funds.

3. Based on a thorough due diligence conducted by BBVA to address a previous
   request by the court, we have concluded that Mr. Nelson Rodriguez's
   accusations are false, not only with respect to the facts but also to the
   alleged intention of BBVA. BBVA is prepared to provide a detailed explanation
   of each accusation and to prove factually that Mr. Rodriguez's allegations
   have no grounds whatsoever.

4. BBVA ratifies its confidence in the judicial investigation and in the process
   to determine accountability that may arise as a result of the issues under
   investigation.

5. BBVA reserves its rights to exercise any actions necessary to protect its
   reputation once the investigation is concluded.

The Board of Directors of BBVA reiterates to its clients, shareholders and
employees its commitment to cooperate with the judicial system to clarify the
events, as BBVA believes this is the best course of action to protect the Bank's
interest and that of its shareholders.

Lastly, the Board of Directors declares its unconditional support for BBVA's
CEO, Jose Ignacio Goirigolzarri, and their utmost trust in his professional
skills and personal ethics and integrity.



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