Director Shareholding

Lloyds TSB Group PLC
22 October 2003

The London Stock Exchange
RNS
Old Broad Street
London EC2N 1HP
                                                              22nd October, 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 216,378 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 20th October 2003. Accordingly, these shares were
transferred from Lloyds TSB Registrars Corporate Nominee Limited a/c AESOP3
(unallocated shares) to Lloyds TSB Registrars Corporate Nominee Limited a/c
AESOP1 (allocated shares).

Also, 226 ordinary shares of 25p each in the capital of Lloyds TSB Group plc
were transferred from Lloyds TSB Registrars Corporate Nominee Limited a/c AESOP1
(allocated shares) to Lloyds TSB Registrars Corporate Nominee a/c AESOP 3
(unallocated shares), following an adjustment to the "free shares" allocation.

Additionally, 27,594 ordinary shares of 25p each in the capital of Lloyds TSB
Group plc were transferred from Lloyds TSB Registrars Corporate Nominee Limited
a/c AESOP1 (allocated shares) to 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 411,529 and 2,122,662 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. 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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