Director Shareholding

Lloyds TSB Group PLC
3 January 2002




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, today transferred 85,130 shares at prices ranging from 161p to 
719p 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 796 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 2,332,115 and 1,951,383 shares, respectively, held 
by these trusts.

                         Mr. M.K. Atkinson
                         Mr. J.E. Daniels
                         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.