BBVA buy back progr 23-9-2005

Banco Bilbao Vizcaya Argentaria SA
23 September 2005


'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


In connection with the buy back programme of BBVA shares announced by means of
the significant event number 56415 on March 29, 2005, and pursuant to article
4.4. of Regulation (CE) No 2273/2003 of the European Commission, Banco Bilbao
Vizcaya Argentaria, S.A. announces that the company Corporacion Industrial y de
Servicios, S.L., fully owned subsidiary of the group BBVA, has conducted the
following trades in shares of Banco Bilbao Vizcaya Argentaria, S.A. on September
19, 20, 21 and 22, 2005:

             Date                  Buy/Sell              No of shares         Price

          19/09/2005                 Sell                      90,417         13.96
          19/09/2005                 Sell                     102,599         13.97
          19/09/2005                 Sell                     121,984         13.99
          19/09/2005                 Sell                      15,000         14.00
          19/09/2005                 Sell                         958         14.01
          20/09/2005                 Sell                      70,000         13.97
          20/09/2005                 Sell                     150,000         13.98
          20/09/2005                 Sell                     139,416         13.99
          20/09/2005                 Sell                      70,584         14.00
          20/09/2005                 Sell                      25,000         14.01
          20/09/2005                 Sell                       9,690         14.02
          21/09/2005                 Sell                     117,200         13.80
          21/09/2005                 Sell                     180,000         13.82
          22/09/2005                 Sell                     127,426         13.75
          22/09/2005                 Sell                      30,000         13.91
          22/09/2005                 Sell                     500,000         13.89
          22/09/2005                 Sell                     500,000         13.88


                                                      Madrid, September 23, 2005


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