Director Shareholding

Lloyds TSB Group PLC
22 April 2004


The London Stock Exchange
RNS
Old Broad Street
London EC2N 1HP
                                                              22nd April, 2004



Dear Sirs,

Lloyds TSB Group plc ordinary shares of 25p each

Notification of interests of directors


Hill Samuel Offshore Trust Company Limited, as trustee of the Lloyds TSB Group
employee share ownership trust, today transferred 2,034 shares to individuals
who had exercised share options granted under the group's employee share
schemes, to compensate them for the special dividend of 68.3p per share which
was paid to former TSB Group plc shareholders in 1996, following the merger with
Lloyds Bank Plc, but which was not paid to optionholders.

The following directors, together with some 77,000 other employees, are
potential beneficiaries of the trust and are therefore to be treated as
interested in the remaining 1,469,116 shares held by the trust.

Mr. P.G. Ayliffe
Mr. J.E. Daniels
Mr. M.E. Fairey
Mr. A.G. Kane
Mr. D.P. Pritchard
Mr. S.C. Targett
Mr. M.A. van den Bergh


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


Yours faithfully,

A.J. Michie
Secretary


b.c.c.  Ms K.T. McTeague



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