Directors' Dealings

Lloyds TSB Group PLC
11 November 1999

Lloyds TSB Group plc - 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 20,745 and 21,061 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 2,650,165 and 1,625,216 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.