Lloyds Banking Group

Project Verde - update

27 June 2012

Lloyds Banking Group (‘The Group’) has made considerable progress with the Co-operative Group (Co-op) on the Verde transaction. The Group and Co-op now have an understanding on the commercial terms for the transaction. This is subject to agreeing satisfactory documentation, the approval of their respective boards, and further discussions with the FSA, HMT and the European Commission.

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