BBVA BUY BACK PROGRAMME

Banco Bilbao Vizcaya Argentaria SA
12 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 7, 8 and 9, 2005:


       Date            Buy/Sell         No of shares          Price
    7/09/2005            Sell              80,058             14.03
    7/09/2005            Sell              39,942             14.04
    7/09/2005            Sell              50,000             14.05
    7/09/2005            Sell              50,000             14.06
    7/09/2005            Sell              50,000             14.07
    7/09/2005            Sell              50,000             14.08
    7/09/2005            Sell              69,669             14.09
    7/09/2005            Sell              50,000             14.10
    8/09/2005            Sell              50,000             14.06
    8/09/2005            Sell              80,000             14.08
    8/09/2005            Sell              30,000             14.09
    8/09/2005            Sell              30,000             14.10
    8/09/2005            Sell              30,000             14.11
    8/09/2005            Sell              80,000             14.12
    9/09/2005            Sell              30,000             14.12
    9/09/2005            Sell              20,000             14.13
    9/09/2005            Sell             105,000             14.14
    9/09/2005            Sell              20,000             14.15
    9/09/2005            Sell             105,000             14.16
    9/09/2005            Sell              40,000             14.17
    9/09/2005            Sell              40,000             14.18
    9/09/2005            Sell             105,000             14.19
    9/09/2005            Sell              50,847             14.20



Madrid, September 12, 2005



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