Directors' Dealings

Lloyds TSB Group PLC
7 January 2000


          LLOYDS TSB GROUP PLC - 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, yesterday transferred 17,844 and 96,499 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 2,556,877 and 1,791,712 shares, respectively, held
by these trusts.


                            Mr. M.K. Atkinson
                            Mr. P.B. Ellwood
                            Mr. M.E. Fairey
                            Sir Nicholas Goodison
                            Mr. A.G. Kane
                            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.