AGM Statement

Lloyds TSB Group PLC
09 May 2007



57/07     9 May 2007

LLOYDS TSB Group annual general meeting statement

Lloyds TSB is holding its annual general meeting in Glasgow today (9 May 2007).

During 2006 the Group made considerable progress in the delivery of its organic
growth strategy and in the development of its customer franchises. This resulted
in good levels of sales growth throughout the organisation, positioning the
Group to deliver stronger future revenue growth. The Group's focus on continuous
productivity improvement, whilst continuing to invest in further business
growth, was maintained. As a result, revenue growth was well ahead of cost
growth. Overall asset quality remained satisfactory.

The following is an extract from the statement made by Eric Daniels, Group Chief
Executive:

"In 2006, we delivered a good financial performance with strong trading momentum
across all three divisions, whilst continuing to build our customer franchises
to support future earnings growth. We operate a lower risk business model that
delivers higher quality earnings based on the strength of our customer
relationships and, as a result, we are well positioned to deliver sustainable
revenue and earnings growth.

In the first few months of 2007, we have continued to make strong progress
across the Group and are confident that we will deliver another good trading
performance for the half-year. We will continue to extend the reach and depth of
our customer relationships whilst improving productivity and efficiency in 2007
and beyond. By doing so, we believe that we can deliver sustained double-digit
economic profit growth over time."


For further information:-

Investor Relations
Michael Oliver     [phone]
Director of Investor Relations
E-mail: [e-mail]

Sarah Pollard
Senior Manager, Investor Relations
E-mail: [e-mail]     [phone]

Media
Mary Walsh     [phone]
Director of Corporate 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 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.



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