Director Shareholding

Lloyds TSB Group PLC
27 July 2001



Lloyds TSB Group plc ordinary shares of 25p each 
Notification of interests of directors

Lloyds TSB Quest Limited, as trustee of the Lloyds TSB qualifying employee share
ownership trust, yesterday transferred 128,474 shares at prices ranging from
178p to 768p per share to individuals who had exercised share options granted
under the group's employee share schemes.

On the same day, Hill Samuel Offshore Trust Company Limited, as trustee of the
Lloyds TSB Group employee share ownership trust, transferred 203 shares to
certain of these individuals to compensate them for the special dividend of
68.3p per share which was paid to former TSB Group plc shareholders following
the merger with Lloyds Bank Plc, but which was not paid to option holders.

The following directors, together with some 73,000 other employees, are
potential beneficiaries of the trusts and are therefore to be treated as
interested in the remaining 8,877,281 and 2,223,153 shares, respectively, held
by these trusts.

               Mr. M.K. Atkinson
               Mr. P.B. Ellwood
               Mr. M.E. Fairey
               Mr. D. Holt
               Mr. A.G. Kane
               Mr. A.E. Moore
               Mr. D.P. Pritchard
               Mr. M.D. Ross
               Mr. M.A. van den Bergh

This notification is made to comply with paragraph 16.13 of the listing rules.