Directors' Dealings

Lloyds TSB Group PLC
16 December 1999


               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 42,659 and 33,437 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 of 2,577,440 and 2,063,680 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.