Third Interim Dividend

Banco Bilbao Vizcaya Argentaria SA
21 December 2004

'BBVA, S.A.', pursuant to the provisions of article 82 of the Spanish Securities
Market Act, proceeds by means of the present document to notify the following:

SIGNIFICANT EVENT

THIRD INTERIM DIVIDEND FOR YEAR 2004

The BBVA Board of Directors in its meeting held today, has approved the
distribution a gross interim dividend against 2004 results of euros 0.10 for
each of all current issued shares. This interim dividend will be paid on the
10th of January of 2005.

                                                             December, 21th 2004


Gross dividend
0.10 euros per share.

Withholding tax rate
15%

Business days
Record :               January 7th, 2005
Ex-dividend:          January 10th, 2005
Payment:              Upon January 10th, 2005







                                                              December 21th 2004


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