Directors' Dealings

LLOYDS TSB GROUP PLC
23 July 1999

                    NOTIFICATION OF INTEREST OF DIRECTORS
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Lloyds Bank Profit Sharing Trustees Limited, as trustee of the TSB Group
employee trust, yesterday transferred 13,385 shares 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 trust and are therefore treated as having ceased
to be interested in the shares transferred.  They are however still interested
in the remaining 4,333,981 shares held by that trust.

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