Stmnt re Agreement

Banco Bilbao Vizcaya Argentaria SA
9 November 2000



BBVA

According to the content of the article no. 82 of the Law 24/1988, 28 of July,
of the Securities Market, Banco Bilbao Vizcaya Argentaria, S.A. announces the
following:

Because of the merger between Banco Bilbao Vizcaya, S.A. and Argentaria, Banco
Hipotecario y Caja Postal, S.A., in a friendly way, the partners of Banco de
Credito Local de Espania, S.A. (DEXIA and BBVA) have decided, for competition
reasons, to keep on their business separately, leaving the transaction  which
originated the agreement on Banco de Credito Local de Espana, S.A.

Therefore, BBVA and Grupo Financiero DEXIA have reached an agreement by virtue
of what, in January 2001, BBVA will obtain the 40% that DEXIA owns of the
capital of their subsidiary in common, Banco de Credito Local de Espana, S.A.
after the payment of 67,600 million pesetas approx., and the return of the
balance given by DEXIA with all its assets and present liabilities, assuming the
end of the Joint Venture started in 1998.

The name of Banco de Credito Local (BCL) continues been property of BBVA,
which will control the 100% of BCL.

From January  2001, DEXIA will keep on operating in the Institutional Banking
business in Spain.

Bilbao, 9 November 2000