Directors' Dealings

LLOYDS TSB GROUP PLC
20 August 1999


LLOYDS TSB GROUP PLC - NOTIFICATION OF INTERESTS OF DIRECTORS

Lloyds TSB Quest Limited, as trustee of the Lloyds TSB qualifying share
ownership trust, and Lloyds Bank Profit Sharing Trustees Limited, as trustee of
the TSB Group employee trust, yesterday transferred 425,412 and 17,707 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 6,099,060 and 4,284,996 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.