Rule 8.1 - HBOS

Lloyds TSB Group Plc
                  

                                    FORM 8.1

           DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES

                   FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS

                 (Rules 8.1(a) and (b)(i) of the Takeover Code)

1. KEY INFORMATION

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Name of person dealing (Note 1)            Lloyds TSB Group Plc and its Subsidiaries
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Company dealt in                           HBOS (HBOS)
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Class of relevant security to which the    Ord 25p
 dealings being disclosed relate (Note 2)
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Date of dealing                            28th October 2008
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2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

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                                           Long                          Short
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                                           Number (%)                    Number (%)
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(1) Relevant securities                    67,390,550 1.246
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(2) Derivatives (other than options)
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(3) Options and agreements to
 purchase/sell
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Total
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(b) Interests and short positions in relevant securities of the company, other
than the class dealt in (Note 3)

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       Class of relevant security:                     Long                          Short
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                                          Number (%)                    Number (%)
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(1) Relevant securities
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(2) Derivatives (other than options)
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(3) Options and agreements to
 purchase/sell
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Total
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(c) Rights to subscribe (Note 3)

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Class of relevant security:               Details
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3. DEALINGS (Note 4)

(a) Purchases and sales

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Purchase/sale                       Number of securities               Price per unit (Note 5)
----------------------------------- ---------------------------------- ------------------------------------
Sale                                68                                 0.636
----------------------------------- ---------------------------------- ------------------------------------
Transfer Out                        552,099                            N/A
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(b) Derivatives transactions (other than options)

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Product name,       Long/short (Note 6)    Number of securities (Note 7)   Price per unit (Note 5)
e.g. CFD
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(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

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Product name,      Writing,        Number of          Exercise  Type, e.g.   Expiry    Option money
e.g. call option    selling,        securities to     price      American,   date      paid/received
                    purchasing,     which the option             European               per unit (Note
                    varying etc.    relates (Note 7)             etc.                   5)
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(ii) Exercising

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Product name, e.g. call option     Number of securities              Exercise price per unit (Note 5)
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(d) Other dealings (including new securities) (Note 4)

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Nature of transaction (Note 8)     Details                           Price per unit (if applicable) (Note
                                                                      5)
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4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

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Full details of any agreement, arrangement or understanding between the person disclosing and any other
 person relating to the voting rights of any relevant securities under any option referred to on this
 form or relating to the voting rights or future acquisition or disposal of any relevant securities to
 which any derivative referred to on this form is referenced. If none, this should be stated.
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Is a Supplemental Form 8 attached? (Note 9) YES/NO

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Date of disclosure                                           29th October 2008
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Contact name                                                 Central Disclosure Unit
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Telephone number                                             01444 418336
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Name of offeree/offeror with which associated                Lloyds TSB Group
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Specify category and nature of associate status (Note 10)    Offeror
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Notes

The Notes on Form 8.1 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk