Director Shareholding

Lloyds TSB Group PLC
2 November 2001


                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

    LLOYDS TSB GROUP PLC

2)  NAME OF DIRECTOR

    JOHN ERIC DANIELS

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

    HOLDING OF DIRECTOR

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

    -

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

    N/A

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

    N/A

7)  Number of shares/amount of
    stock acquired

    N/A

8)   (N/A %)
    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

    N/A     

13) Date of transaction

    N/A

14) Date company informed

    N/A

15) Total holding following this notification

    -

16) Total percentage holding of issued class following this notification

    N/A

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

17) Date of grant

    SEE APPENDIX BELOW

18) Period during which or date on which exercisable

    SEE APPENDIX BELOW

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

    NIL

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

    SEE APPENDIX BELOW

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

    SEE APPENDIX BELOW

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

    SEE APPENDIX BELOW

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    2nd NOVEMBER 2001



APPENDIX 

LLOYDS TSB GROUP plc 
MR. J.E. DANIELS


SCHEDULE 11 
NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

SECTIONS 17, 18, 20, 21 AND 22

On the 1st November, 2001, Mr. Daniels was granted options to acquire a maximum 
of 907,780 ordinary shares of 25p each at 694p per share under the group's 
executive share option schemes. The actual number of shares to be acquired will 
depend on the company's ranking within a peer group.

The options may become exercisable between 1st November, 2004 and 31st October, 
2011, or earlier in the circumstances described in the option schemes.

On the 2nd November, 2001, he was granted a further option to acquire 216,763 
ordinary shares of 25p each for £1. The option may become exercisable between 
1st January, 2005 and 30th June, 2005, or earlier in certain exceptional 
circumstances.