Directors' Dealings

LLOYDS TSB GROUP PLC
14 October 1999


Lloyds TSB Group plc - Notification of interests of directors
--------------------------------------------------------------

Hill Samuel Offshore Trust Company Limited, as trustee of the Lloyds TSB Group
Employee share ownership trust, has purchased shares in Lloyds TSB Group plc as
follows:

          Date                Number of shares              Price per share
          ----                ----------------              ---------------

          7th October             500,000                         774p
          8th October             500,000                         778p
          8th October             350,000                         780p
         11th October             250,000                         782p
         11th October             250,000                         781p
         11th October             250,000                         780p
         11th October             250,000                         785p
         12th October             500,000                         784p
         12th October             250,000                         780p
                                 --------
                                3,100,000

The following directors together with some 70,000 other employees, are potential
beneficiaries of the trust under the group's employee share schemes and are
therefore to be treated as interested in these shares.

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

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