Director Shareholding

Lloyds TSB Group PLC
23 July 2003


The London Stock Exchange
RNS
Old Broad Street
London EC2N 1HP
                                                                 23rd July, 2003

Dear Sirs,

Lloyds TSB Group plc ordinary shares of 25p each

Notification of interests of directors

Hill Samuel ESOP Trustees Limited, as trustee of the Lloyds TSB Group Shareplan,
allocated 183,761 ordinary shares of 25p each in the capital of Lloyds TSB Group
plc to participants in Shareplan, to satisfy allocations of "matching shares" to
staff under Shareplan on 21st July 2003 and accordingly, that number of shares
was transferred from the Lloyds TSB Registrars Corporate Nominee Limited a/c
AESOP3 (unallocated shares) to the Lloyds TSB Registrars Corporate Nominee
Limited a/c AESOP1 (allocated shares).

Additionally, 27,895 ordinary shares of 25p each in the capital of Lloyds TSB
Group plc were transferred from the Lloyds TSB Registrars Corporate Nominee
Limited a/c AESOP1 (allocated shares) to the Lloyds TSB Registrars Corporate
Nominee Limited a/c AESOP2 (unallocated shares) following the forfeiture of
shares, under the rules of Shareplan, by participants who have left the Group.

The following directors, together with some 80,000 other employees, are
potential participants in Shareplan and are, therefore, to be treated as
interested in the remaining 313,613 and 2,733,428 shares held by Lloyds TSB
Registrars Corporate Nominee Limited a/c AESOP2 and a/c AESOP3 (unallocated
shares) respectively.

Mr. P. G. E. Ayliffe

Mr. J.E. Daniels

Mr. M.E. Fairey

Mr. P.R. Hampton

Mr. A.G. Kane

Mr. D.P. Pritchard

Mr. M.D. Ross

Mr. S.C. Targett

This notification is made to comply with paragraph 16.13 of the listing rules.

Yours faithfully,

 A.J. Michie, Secretary














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