Directors' Dealings

LLOYDS TSB GROUP PLC
2 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 240,546 and 10,002 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 5,543,963 and 4,270,647 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.