Director Shareholding

Lloyds TSB Group PLC
17 October 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

SEE SECTION 6

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)

SEE SECTION 6

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary
98 shares were purchased by LTSBR(I)NL on 9th October , 2002
at 500p per share for Mr. Fairey's single company maxi ISA.

LTSBR(I)NL notify investors by post of details relating to
changes affecting ISAs. The director was, therefore, not
aware of the change relating to the holding until some time
after the transaction. The director notified the company
today as soon as he received the information from the LTSBR
(I)NL.



7. Number of shares / amount of stock acquired

SEE SECTION 6

8. Percentage of issued class

MINIMAL

9. Number of shares/amount of stock disposed

N/A

10. Percentage of issued class

N/A

11. Class of security

ORDINARY SHARES OF 25p EACH

12. Price per share

SEE SECTION 6

13. Date of transaction

SEE SECTION 6

14. Date company informed

SEE SECTION 6

15. Total holding following this notification

Mr. Fairey:     67,874

LTSBSSTL:     3,580

LTSBR(I)NL:

- Mr. Fairey (Single company maxi ISA):     3,971



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

N/A

18. Period during which or date on which exercisable

N/A

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

N/A

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

N/A

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

N/A

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

794,039

23. Any additional information

N/A

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

17TH OCTOBER, 2002

The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.


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