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Using first-principles calculations and angle-resolved photoemission, we show that the spin-orbit interaction leads to a strong splitting of the surface-state bands on low-index surfaces of Bi. The dispersion of the states and the corresponding Fermi surfaces are profoundly modified in the whole surface Brillouin zone. We discuss the implications of these findings with respect to a proposed surface charge density wave on Bi(111) as well as to the surface screening, surface spin-density waves, electron (hole) dynamics in surface states, and to possible applications to the spintronics.