Stmnt re Pension Plan

Banco Bilbao Vizcaya Argentaria SA
28 September 2001


                    BBVA ADVANCES THE AMOUNT OF ITS COMMITMENTS 
            FOR COVERING THE EXTERNALIZATION OF THE SPANISH PERSONNEL 
                                 PENSION PLAN

*  BBVA advances the holding amount, which makes ESP 101,000 million.

*  With this decision, BBVA anticipates the schedule of redemption foreseen in  
   the agreement: within fourteen years.

BBVA has decided to bring in the whole holding amount, ESP 101,000 million, of 
the Balancing Plan of the previous services, for exteriorising the pensions of 
the Spanish personnel.

This decision means to advance the payment of the Balancing Plan, including all 
the holding quotas of the Pension Plan. According to the collective agreement 
about the social security system, dated 14 November 2000, among the firm and the
trade unions, this schedule was established in fourteen years, as maximum.

The same agreement also enabled to advance the payment of the holding amounts.

With this initiative, BBVA is consolidated as the pioneer financial entity 
between the biggest groups of the Spanish financial system in the total 
externalization of the personnel pensions.