E-Commerce Initiatives

Lloyds TSB Group PLC
10 May 2000


LLOYDS TSB ANNOUNCES MAJOR E-COMMERCE INITIATIVES 

LLOYDSTSB.COM
At a presentation to city analysts in London today, Lloyds TSB outlined its
e-commerce strategy, and reaffirmed the Group's commitment to achieve its
target of 1 million LloydsTSB.com Internet Banking customers by the end of
2000.  The Group now has 300,000 registered customers and is registering some
20,000 customers a week.  Lloyds TSB aims to register 4 million of its
customers by 2003.

REAL TIME BANKING
In July 2000 all new customers of Lloyds TSB will have access to real time 24
hours banking services, and these facilities will be available to all Lloyds
TSB customers in the first half of 2001.  This means that all Lloyds TSB
personal customers will have immediate real time access to their financial
arrangements whether they choose to use branches, telephone banking or the
internet.

PARTNERSHIP WITH LYCOS
Lloyds TSB has today announced a pan-European portal partnership with Lycos,
one of Europe's top, and fastest growing, internet portals.  This partnership
will support our customer recruitment drive through the provision of a free
Internet Service Provider (ISP) for all customers.  This will significantly
raise the profile of the LloydsTSB.com brand in the internet market place,
with high visibility exposure on the Lycos web site.  Lloyds TSB and Lycos
will also develop new revenue streams through the creation of co-branded
e-commerce opportunities, including internet shopping.

CAR LEASING AND SALES ON THE INTERNET
Later this year Lloyds TSB will launch 'autodirect' - offering competitively
priced car leasing and sales, with associated finance, leveraging the scale of
Black Horse Vehicle Management.

WAP AND INTERACTIVE TV TRIALS
The Group has already conducted a series of trials using WAP (wireless
application protocol) telephones and interactive television as additional
methods for customers to access and conduct their financial affairs.  By the
end of this year our customers will be able to carry out their banking by both
WAP and interactive television.

SUCCESS4BUSINESS - TRADE FACILITATION
To assist our commercial and small business customers, the Group will launch a
range of trade facilitation services based upon our Success4Business portal
launched in pilot last month.  These services, backed by a series of
alliances, will include, amongst others, web design and hosting, trade
finance, point of sale finance and e-procurement.  The Group has been working
for some time with Oracle to develop an initiative which will provide a secure
market place for our business customers to trade with each other with
confidence.  This service will be piloted in June and launched later this
year.

EMBRACING E-ENABLEMENT
By e-enabling and reinventing our entire organisation to maximise the benefits
of internet and intranet technologies, the Group is already substantially
improving customer service and efficiency, and significant cost savings over
time are forecast.

EVOLVEBANK.COM - STAND ALONE INTERNET BANK
Lloyds TSB's stand-alone internet bank, to be named evolvebank.com, will be
launched in the UK towards the end of 2000.  evolvebank.com will be the
leading internet only bank in Europe and will combine the most highly
automated, flexible, lowest cost bank in the world, with a customer
proposition based on attractive prices and a high level of personalisation. 
Prior to its launch in the UK, evolvebank.com will be launched in Spain this
summer as part of a pan-European roll-out, with subsequent launches in France,
Germany and Italy during 2001.  By the end of 2003, evolvebank.com will have
some 1.5 million additional customers in the UK and continental Europe.

Peter Ellwood, Group Chief Executive of Lloyds TSB said: 

'By building on the strengths of the Lloyds TSB Group and over half a billion
pounds of supporting infrastructure investment already successfully completed,
Lloyds TSB is uniquely positioned to be a market leader in both the
application of internet technology to transform our existing business and in
using e-commerce to continue to provide our customers with the services they
require, wherever and whenever they require them.  The proposals highlighted
today will cost the Group £150 million during 2000, with further investments
thereafter, and will substantially underpin our comprehensive and
value-creating e-commerce strategies.'


For more information:
Lloyds TSB Press Office
020 7626 1500