Moody's: Modification of BBVA's rating

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), pursuant to the provisions of the Spanish Securities Market Act, hereby proceeds by means of the present document to notify the following:

RELEVANT INFORMATION

Moody's Investor Service has disclosed on May, 17th 2012 the modification of BBVA´s rating, as follows:

o Bank Financial Strenght Rating (BFSR): C(a3) from B- (a1). Negative outlook

o LT Rating: A3 fromAa3. Negative outlook.

o ST Rating: P-2 from P-1

o Dated subordinated debt rating: Baa1 from A2. Negative outlook

o Preference shares rating: Ba1 from Baa2. Negative outlook

Madrid, May 18, 2012