Director Shareholding

Lloyds TSB Group PLC
20 May 2003

                                  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):     3,971



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
1285 shares held for Mr. Fairey by LTSBSSTL were transferred to him on 28th 
April, 2003. This was not a notifiable event under the Companies Act, as there 
was no change in the director's interest.

228 shares were purchased by LTSBR(I)NL on 7th May, 2003 at 427.0589p per share 
for Mr. Fairey's single company maxi ISA.

LTSBR(I)NL notify investors by post of details relating to changes affecting 
ISA's. 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 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
MINIMAL

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:     69,159

LTSBSSTL:     2,295

LTSBR(I)NL:

- Mr. Fairey (Single company maxi ISA):     4,199



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
-

18. Period during which or date on which exercisable
-

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

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





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

22. Total number of shares or debentures over which options held following this
notification
1,458,526

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
20TH MAY, 2003

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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
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