Chairman's Statement

Lloyds TSB Group PLC
11 April 2000


LLOYDS TSB GROUP:  ANNUAL GENERAL MEETING STATEMENT BY THE CHAIRMAN

The following is an extract from the statement made by Sir Brian Pitman,
Chairman of Lloyds TSB Group at the company's annual general meeting in
Edinburgh today (11 April 2000).

'1999 was another successful year for the Lloyds TSB Group, with record
profits and earnings per share. This strong performance enabled the board to
recommend a final dividend of 18.5p, bringing the total dividend for the year
to 26.6p, an increase of 20 per cent.  

Our e-commerce business continues to grow apace. We now have nearly a quarter
of a million customers using our internet banking service, making Lloyds TSB
the second largest internet banking service in the UK. We aim to have one
million customers using the service by the end of the year.  Our plans to
launch a separately branded stand alone internet bank in the UK later this
year are well advanced as are our plans for the development of a pan-European
stand alone internet banking service.

                                                                            
Scottish Widows joined the Group on 3 March, giving us a new, powerful single
brand for life and pensions across all our businesses. We expect the strength
of the brand and the expertise of Scottish Widows to create significant
revenue growth opportunities for the Group. 

2000 has started well, with profits for the first quarter of this year ahead
of the first quarter of last year.  Business volumes remain strong and the
Group has continued to grow revenues from its core businesses.' 



For further information:
Lloyds TSB Press Office
020 7626 1500