Approval of Application by Banco Bilbao Vizcaya Argentaria, S.A.

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Press Release

Approval of Application by Banco Bilbao Vizcaya Argentaria, S.A.

October 23, 2006

NEW YORK—The Federal Reserve Bank of New York Monday approved the application by Banco Bilbao Vizcaya Argentaria, S.A., Bilbao, Spain, to acquire Texas Regional Bancshares, Inc., McAllen, Texas, and thereby indirectly acquire its direct and indirect subsidiaries, Texas Regional Delaware, Inc., Wilmington, Delaware, and Texas State Bank, McAllen, Texas.

According to standard procedure, the proposal cannot be completed sooner than 15 days, or later than 3 months, from the date of this announcement.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.

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