Director Shareholding

Lloyds TSB Group PLC
05 September 2002


The London Stock Exchange                                     5 September, 2002

Old Broad Street

London EC2N 1HP

Dear Sirs,

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 55,398 shares at prices ranging from 178p to
719p per share to individuals who had exercised share options granted under the
group's employees share schemes.

In addition, Hill Samuel Offshore Trust Company Limited, as trustee of the
Lloyds TSB Group employee share ownership trust, today transferred 431 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 shareholders in 1996,
following the merger with Lloyds Bank Plc, but which was not paid to
optionholders.

The following directors, together with some 75,000 other employees, are
potential beneficiaries of the trusts and are therefore to be treated as
interested in the remaining 3,882,603 and 1,734,987 shares held by these trusts.

Mr. J.E. Daniels

Mr. P.B. Ellwood

Mr. M.E. Fairey

Mr. P.R. Hampton

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.

Yours faithfully,

A J Michie

Secretary


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