Directors' Dealings

LLOYDS TSB GROUP PLC
7 October 1999



NOTIFICATION OF INTERESTS OF DIRECTORS

Lloyds TSB Share Schemes Trustees Limited, as trustee of the TSB Group employee
trust, and Lloyds TSB Quest Limited, as trustee of the Lloyds TSB qualifying
share ownership trust, today transferred 44,692 and 299,321 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 2,761,801 and 2,200,630 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.