BBVA buy back progr 23 Set 05

Banco Bilbao Vizcaya Argentaria SA
27 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) N(o) 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 23 and 26, 2005:


          Date         Buy/Sell          N(o) of shares          Price

     23/09/2005          Sell                    30,000          13.89
     23/09/2005          Sell                    30,000          13.90
     23/09/2005          Sell                    30,000          13.91
     23/09/2005          Sell                    90,000          13.92
     23/09/2005          Sell                    85,000          13.93
     23/09/2005          Sell                    30,000          13.94
     23/09/2005          Sell                    30,000          13.95
     23/09/2005          Sell                    60,000          13.96
     23/09/2005          Sell                    30,000          13.97
     23/09/2005          Sell                    30,000          13.98
     26/09/2005          Sell                    10,300          14.03
     26/09/2005          Sell                    45,012          14.04
     26/09/2005          Sell                    30,000          14.05
     26/09/2005          Sell                    34,688          14.06
     26/09/2005          Sell                    30,000          14.07
     26/09/2005          Sell                    30,000          14.08
     26/09/2005          Sell                    30,000          14.09
     26/09/2005          Sell                    30,000          14.10
     26/09/2005          Sell                    30,000          14.11
     26/09/2005          Sell                    60,000          14.12
     26/09/2005          Sell                    30,000          14.13
     26/09/2005          Sell                    30,000          14.14
     26/09/2005          Sell                    60,000          14.15
     26/09/2005          Sell                    30,000          14.16
     26/09/2005          Sell                    30,000          14.17
     26/09/2005          Sell                    30,000          14.18
     26/09/2005          Sell                    30,000          14.19
     26/09/2005          Sell                    30,000          14.20
     26/09/2005          Sell                    30,000          14.21
     26/09/2005          Sell                    30,000          14.22
     26/09/2005          Sell                   110,000          14.23
     26/09/2005          Sell                    30,000          14.24
     26/09/2005          Sell                   140,000          14.25
     26/09/2005          Sell                    60,000          14.26
     26/09/2005          Sell                    30,000          14.27
     26/09/2005          Sell                    30,000          14.28
     26/09/2005          Sell                    30,000          14.29
     26/09/2005          Sell                    30,000          14.30
     26/09/2005          Sell                    30,000          14.31




Madrid, September 27, 2005







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