Directors' Dealings

LLOYDS TSB GROUP PLC
5 August 1999

Lloyds TSB Group plc - Notification of interests of directors

Lloyds TSB Quest Limited, as trustees of the Lloyds TSB qualifying share
ownership trust, was alloted 3,662,138 shares in Lloyds TSB Group plc on 4th
August 1999 at 846.5p per share.

In addition, 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 1,624,777 and 560
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 7,568,196 and 4,319,469 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.