Acquisition

Banco Bilbao Vizcaya Argentaria SA
07 September 2007


Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), pursuant to the provisions of
article 82 of the Spanish Securities Market Act, proceeds by means of the
present document to notify the following:


RELEVANT EVENT

Pursuant to the agreement disclosed to the markets on February 16 2007, BBVA
announces that it has completed today its acquisition of Compass Bancshares
Inc., a USA banking group quoted on Nasdaq and active in Alabama, Texas,
Florida, Arizona, Colorado and New Mexico. BBVA and Compass have previously
obtained all approvals and authorizations  necessary to complete the
acquisition.

The consideration to be paid to former Compass stockholders for the acquisition
will be approximately $9,115 million, which BBVA will pay partially in cash
($4,612 million) and partially with the issuance of 196,000,000 shares, which
represent 5.5% of the current share capital of BBVA. This capital increase is
foreseen to take place on Monday September 10, at an issuance rate of €16.77 per
share, the closing market price of the BBVA's shares at September 6, 2007, in
accordance with the resolutions adopted by the BBVA's general shareholders'
meeting dated 21 June 2007.

As soon as possible, once the above mentioned share capital increase is
completed, BBVA will ask for the listing of the new issued shares.

A press release related to the transaction, which will be disclosed to the
media, is attached to this letter.

                                                      Madrid, September 07, 2007

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