Acquisition

Lloyds TSB Group PLC
01 August 2003




115/03                                                     1 August 2003



LLOYDS TSB TO ACQUIRE GOLDFISH CREDIT CARD AND PERSONAL LOAN BUSINESSES

Lloyds TSB today announces that it has reached agreement to acquire for cash the
credit card and personal loan businesses of Goldfish Bank Limited for a premium
of £112.5 million, or 13.7 per cent of net credit card receivables. As at 30
June 2003, the total net credit card and personal loan receivables amounted to
some £900 million. The transaction also includes the Goldfish brand and loyalty
programme.

Lloyds TSB currently has a 30 per cent economic share in Goldfish, as part of a
joint venture with Centrica, and believes the financial performance of the
acquired credit card and personal loan businesses will be improved by being
wholly owned by the Group. By integrating these Goldfish businesses into the
Group's existing operating platform and leveraging its expertise, there will be
significant opportunities for cost efficiencies and revenue growth.

The acquisition enables Lloyds TSB to expand its credit card and personal
lending portfolio and supports the Group's strategy of growing its core
businesses. The move will also be integral to the development of the Group's
co-brand and own label product range.

Following completion, Goldfish Bank Limited will retain its existing portfolio
of savings balances, which will be wound down by the end of the year.

Peter Ayliffe, Group Executive Director, UK Retail Banking, said:

"We are delighted to have reached agreement with our joint venture partner,
Centrica, to acquire the Goldfish credit card and personal loan businesses. We
are getting a strong brand and a high quality customer base which are valuable
additions to our growing businesses. With our scale and expertise, we are in a
good position to maximise efficiencies, grow revenues and offer customers more
choice."

                                    - ends -



For further information:

Investor Relations

Michael Oliver  [phone]

Director of Investor Relations

E-mail: [e-mail]

Ian Gordon    [phone]

Senior Manager, Investor Relations

E-mail: [e-mail]

Media

Terrence Collis  [phone]

Director of Group Corporate Communications

E-mail: [e-mail]

Mary Walsh  [phone]

Head of Media Relations

E-mail: [e-mail]



FORWARD LOOKING STATEMENTS

This announcement contains forward looking statements with respect to the
business, strategy and plans of the Lloyds TSB Group, its current goals and
expectations relating to its future financial condition and performance.  By
their nature, forward looking statements involve risk and uncertainty because
they relate to events and depend on circumstances that will occur in the future.
  Lloyds TSB Group's actual future results may differ materially from the
results expressed or implied in these forward looking statements as a result of
a variety of factors, including UK domestic and global economic and business
conditions, risks concerning borrower credit quality, market related risks such
as interest rate risk and exchange rate risk in its banking business and equity
risk in its insurance businesses, changing demographic trends, unexpected
changes to regulation or regulatory actions, changes in customer preferences,
competition and other factors.  Please refer to the latest Annual Report on Form
20-F of Lloyds TSB Group filed with the US Securities and Exchange Commission
for a discussion of such factors.




                      This information is provided by RNS
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