Directors' Dealings

Lloyds TSB Group PLC
15 November 1999

                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

     LLOYDS TSB GROUP PLC

2)  NAME OF DIRECTOR

     STEPHEN ANDREW MARAN

3)  Please state whether notification indicates that it is in respect of
    holding of the Director named in 2 above or holding of that person's
    spouse or children under the age of 18 or in respect of a non-beneficial
    interest

     HOLDING OF DIRECTOR 

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

     SEE APPENDIX

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

     N/A

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

     ACQUISITION OF SHARES (SEE APPENDIX)

7)  Number of shares/amount of
    stock acquired

     SEE APPENDIX

8)  % of issued Class

     MINIMAL

9)  Number of shares/amount
    of stock disposed

     N/A

10)  % of issued Class

     N/A

11) Class of security

     ORDINARY SHARES OF 25p EACH

12) Price per share

     SEE APPENDIX

13) Date of transaction

     SEE APPENDIX

14) Date company informed

     15.11.99     

15) Total holding following this notification

     SEE APPENDIX

16) Total percentage holding of issued class following this notification

     N/A

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification

     110,196

23) Any additional information



24) Name of contact and telephone number for queries

      A.J. MICHIE, SECRETARY     020 7356 1043

25) Name and signature of authorised company official responsible for
    making this notification

    Date of Notification.....15TH NOVEMBER 1999.......................


APPENDIX


SECTION 4

Names of the registered holders and the number of shares held by each of them
before this notification:

Mr. S.A. Maran:                                   291,159
Mrs. S.M. Maran:                                    6,700
Lloyds TSB Share Schemes Trustees Limited
(LTSBSSTL):                                         1,720
Lloyds Bank (PEP Nominees) Limited 
(LB(PN)L) - Mr. Maran (General):                       79                       
                 
                                  
SECTION 6,7, 12 AND 13

On 4th November, 1999, Mr. Maran exercised a savings-related share option on
3,673 shares at 139p per share.

The director was away and notified the company as soon as he returned.


SECTION 15

Total holding following this notification:

Mr. S.A. Maran:                                   294,832
Mrs. S.M. Maran:                                    6,700
LTSBSSTL:                                           1,720    
LB(PN)L
- Mr. Maran (General):                                 79                       
                      


A.J. MICHIE, SECRETARY                              15TH NOVEMBER 1999