Director Shareholding

Lloyds TSB Group PLC
7 June 2001


                       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)   (MINIMAL %)
    of issued Class



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

    763,065

23) Any additional information



24) Name of contact and telephone number for queries

    A.J. MICHIE       020 7356 1043

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

    Date of Notification       7TH JUNE 2001                          



APPENDIX

LLOYDS TSB GROUP PLC
MR. P.B. ELLWOOD

SECTION 4

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

Mr. Ellwood:                                                      32,530
Mrs. Ellwood:                                                    128,644
Lloyds TSB Share Schemes Trustees Limited (LTSBSSTL):              3,005
Lloyds Bank (PEP Nominees) Limited (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


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

854 shares held for Mr. Ellwood by LTSBSSTL were transferred to him on 28th
April, 2001.  This was not a notifiable event under the Companies Act, as there
was no change in the director's interest.

17 shares were purchased by LB(PN)L on 10th May, 2001 at 761p 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 the PEP
manager.


SECTION 15

Total holding following this notification:

Mr. Ellwood:                                                      33,384
Mrs. Ellwood:                                                    128,644
LTSBSSTL:                                                          2,151
LB(PN)L: 
- Mr. Ellwood (Single company):                                      588
- Mrs. Ellwood (Single company):                                     588

                                                          Non-beneficial

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