LONDON (Standard&Poor's CreditWire) Jan. 31, 2000--Following today's announcement by Lloyds TSB Group PLC (not rated) of the terms of a proposal for the acquisition of Abbey National PLC (Abbey National: AA/Watch Neg/A-1+), Standard&Poor's affirmed the double-'A' long-term and 'A-1'-plus short-term ratings on Lloyds TSB Bank PLC and related entities. The outlook is stable. A complete list of ratings is available on RatingsDirect, Standard&Poor's web-based credit analysis system, or by calling the Standard&Poor's Ratings Desk on: London, (44) 20-7826-3540. Lloyds TSB's bid is conditional on confirmation that the transaction will not be referred to the U.K. Competition Commission, although this condition may be waived at Lloyds TSB's discretion. The results of the Office
