Acquisition

Lloyds TSB Group PLC
25 July 2006


85/06
                                                        25 July 2006


LlOYDS TSB INSURANCE ACQUIRES NEW AND EXISTING GENERAL INSURANCE BUSINESS OF
PEARL GROUP


Lloyds TSB Group today announces that its subsidiary, Lloyds TSB Insurance, has
acquired the new and existing general insurance business of Pearl Group.  The
gross assets of the business acquired total less than £60 million.


The acquisition provides Lloyds TSB Insurance the rights to renew Pearl's
general insurance portfolio.  Lloyds TSB will also have the right to market a
range of general insurance products under the Pearl brand across the UK.


Phil Loney, Managing Director, Lloyds TSB Insurance said "The corporate
partnership market provides considerable opportunities within the general
insurance arena and will support Lloyds TSB Insurance in the delivery of
profitable sales growth through access to a wider customer base.  With a strong
track record in enhancing its manufacturing capabilities, Lloyds TSB Insurance
is also well placed to maximise efficiencies from the combined operations."

For further information:-


Investor Relations

Michael Oliver                                    [phone]

Director of Investor Relations

Email: [e-mail]



Media

Mary Walsh                                        [phone]
                                                      
Director of Corporate Relations

Email: [e-mail]



                           FORWARD LOOKING STATEMENTS



This announcement contains forward looking statements with respect to the
business, strategy and plans of the Lloyds TSB Group and its current goals and
expectations relating to its future financial condition and performance.
Statements that are not historical facts, including statements about Lloyds TSB
Group's or management's beliefs and expectations, are forward looking
statements.  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 businesses and equity risk in its insurance businesses, inherent risks
regarding changing demographic developments, catastrophic weather and similar
contingencies outside Lloyds TSB Group's control, any adverse experience in
inherent operational risks, any unexpected developments in regulation or
regulatory actions, changes in customer preferences, competition, industry
consolidation, acquisitions and other factors.  For more information on these
and other factors, please refer to Lloyds TSB Group's Annual Report on Form 20-F
filed with the US Securities and Exchange Commission and to any subsequent
reports furnished by Lloyds TSB Group to the US Securities and Exchange
Commission or to the London Stock Exchange.  The forward looking statements
contained in this announcement are made as of the date hereof, and Lloyds TSB
Group undertakes no obligation to update any of its forward looking statements.


                      This information is provided by RNS
            The company news service from the London Stock Exchange