LONDON SCOTTISH BANK PUBLIC LIMITED COMPANY

DIRECTORS SHARE DEALINGS

 

MR R REECE

Mr Reece exercised his SAYE option to purchase 18,956 Ordinary Shares of 10p
each at a price of 91p per share on 21st March 2003. This resulted in Mr Reece
increasing his beneficial holding in the company shares to 364,296 shares.

The total number of shares now in issue amounts to 141,145,554 Ordinary Shares
of 10p each, including the 4,083,889 shares issued on 20 March as deferred
consideration for the acquisition of Sterling Direct Finance Ltd.

24th March 2003



END