Re BBVA Crecer AFP

Banco Bilbao Vizcaya Argentaria SA
25 January 2002


          BBVA AND GRUPO PROGRESO JOIN FOR TRADING IN THE 
                      PENSION FUND MARKET

BBVA, leader in the management of Pension Funds in Latin America, and Grupo
Progreso, one of the most important financial groups in Dominican Republic,
announced today the launch of BBVA Crecer AFP, a new pension fund promoter for
the Dominican market.

BBVA owns 70% and Grupo Progreso 30% of this company, contemplating to
incorporate new partners. The first global investment rounds US$ 10 million.

BBVA Crecer AFP arises because of the interesting perspectives of development in
the Dominican Pension Fund market, thanks to the new Social Security Law. 1.2
million of Dominicans will start doing mandatory contributions to their pension
funds.

BBVA Crecer AFP is supported by its partners and has the possibility of
participating in BBVA Pensiones America, present in 10 American countries
nowadays, where US$ 25,000 million from savings are managed for 12 million
people.

                      This information is provided by RNS
            The company news service from the London Stock Exchange