Directors' Dealings

LLOYDS TSB GROUP PLC
23 September 1999


LLOYDS TSB GROUP PLC - NOTIFICATION OF INTERESTS OF DIRECTORS

Lloyds TSB Quest Limited, as trustee of the Lloyds TSB qualifying share
ownership trust, and Lloyds Bank Profit Sharing Trustees Limited, as trustee of
the TSB Group employee trust, today transferred 510,166 and 190,875 shares,
respectively, to individuals who had exercised share options granted under the
group's employee share schemes.

The following directors, together with some 70,000 other employees are potential
beneficiaries of the trusts and are therefore to be treated as interested in the
remaining 2,805,064 and 2,947,155 shares, respectively, held by these trusts.

Mr M K Atkinson
Mr P B Ellwood
Mr M E Fairey
Sir Nicholas Goodison
Mr S A Maran
Mr A E Moore
Mr G F Pell
Sir Brian Pitman
Mr D P Pritchard

This notification is made to comply with paragraph 16.13 of the listing rules.