Directors' Dealings

Lloyds TSB Group PLC
26 November 1999

Lloyds TSB Group plc - Notification of interest 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, yesterday transferred 6,683 and 70,698 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 2,628,949 and 1,440,020 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.