Director Shareholding

Lloyds TSB Group PLC
18 September 2002

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1. Name of company
LLOYDS TSB GROUP plc

2. Name of director
MICHAEL EDWARD FAIREY

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 a 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)

Mr. Fairey:     67,874

Lloyds TSB Share Schemes Trustees Limited (LTSBSSTL):     3,580

Lloyds TSB Registrars (ISA) Nominees Limited (LTSBR(I)NL):

- Mr. Fairey (Single company maxi ISA):     3,873


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. Percentage of issued class
N/A

9. Number of shares/amount of stock disposed
N/A

10. Percentage of issued class
N/A


11. Class of security
N/A

12. Price per share
N/A

13. Date of transaction
N/A

14. Date company informed
N/A

15. Total holding following this notification

Mr. Fairey:  67,874

LTSBSSTL:     3,580

LTSBR(I)NL:

- Mr. Fairey (Single company maxi ISA):     3,873


16. Total percentage holding of issued class following this notification
MINIMAL



If a director has been granted options by the company please complete the
following boxes.

17. Date of grant
18TH SEPTEMBER, 2002

18. Period during which or date on which exercisable
01/11/2005 TO 30/04/2006

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

20. Description of shares or debentures involved: class, number
ORDINARY SHARES OF 25p - 797

21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise
474p

22. Total number of shares or debentures over which options held following this
notification
794,039

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
A.J. MICHIE, SECRETARY

Date of Notification
18TH SEPTEMBER, 2002



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