Director Shareholding

Lloyds TSB Group PLC
28 September 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, and Hill Samuel Offshore Trust Company Limited, as trustee of 
the Lloyds TSB Group employee share ownership trust, today transferred 99,217 
and 911 shares, respectively, at prices ranging from 161p to 768p per share to 
individuals who had exercised share options granted under the group's employee 
share schemes.

In addition, Hill Samuel Offshore Trust Company Limited, as trustee of the 
Lloyds TSB Group employee share ownership trust, today transferred 6,182 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 in 1996, 
following the merger with Lloyds Bank Plc, but which was not paid to 
optionholders.

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 7,454,200 and 2,131,596 shares, respectively, held 
by these trusts.
                    
                    Mr. M.K. Atkinson
                    Mr. P.B. Ellwood
                    Mr. M.E. Fairey
                    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.