BBVA Buy back programme

Banco Bilbao Vizcaya Argentaria SA
01 June 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:



RELEVANT EVENT



In connection with the buy back programme of BBVA shares announced by means of
the relevant 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 May 31,
2005:








         Date                 Buy / Sell      No of shares             Price
      31/05/2005                 Sell            75,000                12.70
      31/05/2005                 Sell            42,000                12.71
      31/05/2005                 Sell            50,000                12.72
      31/05/2005                 Sell            10,000                12.73
      31/05/2005                 Sell            15,000                12.74







Madrid, June 1, 2005



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