Director Shareholding

Lloyds TSB Group PLC
20 October 2000


                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

LLOYDS TSB GROUP PLC


2)  NAME OF DIRECTOR

PETER BRIAN ELLWOOD

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

SEE APPENDIX

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

SEE APPENDIX

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

SEE APPENDIX

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

SEE APPENDIX

7)  Number of shares/amount of
    stock acquired

SEE APPENDIX

8)   ( %)
    of issued Class

MINIMAL

9)  Number of shares/amount
    of stock disposed

N/A

10)  ( N/A %)
    of issued Class


11) Class of security

ORDINARY SHARES OF 25P EACH

12) Price per share

SEE APPENDIX

13) Date of transaction

SEE APPENDIX

14) Date company informed

SEE APPENDIX

15) Total holding following this notification

SEE APPENDIX

16) Total percentage holding of issued class following this notification

MINIMAL

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant

-

18) Period during which or date on which exercisable

-

19) Total amount paid (if any) for grant of the option

-

20) Description of shares or debentures involved: class, number.

-

21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise

-

22) Total number of shares or debentures over which options held
    following this notification

632,564

23) Any additional information

-

24) Name of contact and telephone number for queries

A.J. MICHIE, SECRETARY     020 7356 1043

25) Name and signature of authorised company official responsible for
    making this notification

   Date of Notification    20TH OCTOBER, 2000                             



APPENDIX

LLOYDS TSB GROUP plc
MR. P.B. ELLWOOD


                                    SCHEDULE 11
       NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

SECTION 4

Names of registered holders and the number of shares held by each of them before
this notification:

    Mr. Ellwood:                                   38,430
    Mrs. Ellwood:                                 134,924
    Lloyds TSB Share Schemes Trustees Limited
    (LTSBSSTL):                                     3,005
    Lloyds Bank (PEP Nominees) Limited (LB(PN)L):
    - Mr. Ellwood (Single company):                   561
    - Mrs. Ellwood (Single company):                  561

                                           Non-beneficial

    Peter B. Ellwood, Judith A. Ellwood and
    Trevor George (trustees of the Peter
    and Judy Ellwood grandchildren's
    settlement):                                    7,000

SECTIONS 3, 5, 6, 7, 12, 13 AND 14

10 shares were purchased by LB(PN)L on 12th October, 2000 at 631p per share for
each of Mr. and Mrs. Ellwood's single company PEPs.

LB(PN)L notify investors by post of details relating to changes affecting
personal equity plans.  The director was, therefore, not aware of the changes
relating to the holdings until some time after the transactions.  The director
notified the company today as soon as he received the information from LB(PN)L.

SECTION 15

Total holding following this notification:

    Mr. Ellwood:                                  38,430
    Mrs. Ellwood:                                134,924
    LTSBSSTL:                                      3,005
    LB(PN)L:
    - Mr. Ellwood (Single company):                  571
    - Mrs. Ellwood (Single company):                 571

                                          Non-beneficial

    Peter B. Ellwood, Judith A. Ellwood
    and Trevor George (trustees of the
    Peter and Judy Ellwood grandchildren's
    settlement):                                   7,000


A.J. Michie                                               20th October, 2000
Secretary