Disposal

Banco Bilbao Vizcaya Argentaria SA
12 May 2006


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


BBVA reports that today it has, as shareholder of Banca Nazionale del Lavoro
(BNL), adhered to the OPA launched by BNP Paribas to acquire 100% of BNL's
capital. With the price offered by BNP, the value of BBVA's stake in the capital
of BNL reaches approximately 1,300 million €. This acceptance of the offer will
involve a capital gain to BBVA of 567 million €.

                                                            Madrid, May 12, 2006



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