AGM Statement

Lloyds TSB Group PLC
05 May 2005





87/05
                                                          5 May 2005



LLOYDS TSB GROUP ANNUAL GENERAL MEETING STATEMENT



Lloyds TSB Group is holding its annual general meeting in Glasgow today
(5 May 2005).



2004 was a good year for Lloyds TSB and significant progress was made against
all the Group's key strategic priorities.  The Group also addressed many of the
concerns of its shareholders, which centred on the adequacy of our capital, the
sustainability of the dividend and the achievement of growth whilst continuing
to deliver strong returns.



As we look to the future, we are opening a new chapter focused primarily on
growth.  Lloyds TSB will continue to focus its efforts on core markets and build
its skills to sustain superior performance.  The Group priorities are designed
to build on existing strengths in those markets:

•   to deepen customer relationships, meeting more of our customers needs
and winning a greater share of their business;

•   to improve our efficiency, growing our income whilst improving the
productivity of our cost base;

•   to continue to enhance the Group's capabilities and processes to support
faster growth.



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



In the first few months of 2005 good progress has continued to be made across
the Group and we expect to deliver a satisfactory trading performance for the
half-year, notwithstanding the expected slowdown in consumer lending growth in
the UK.




For further information:-





Investor Relations

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


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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