Director Shareholding

Lloyds TSB Group PLC
04 May 2004

                                  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:     69,159
Lloyds TSB Share Schemes Trustees Limited (LTSBSSTL):     2,295
Lloyds TSB Registrars Corporate Nominee Limited
AESOP1 account (LTSBRCNL AESOP1):      878
Lloyds TSB Registrars (ISA) Nominees Limited (LTSBR(I)NL):
- Mr. Fairey (Single company maxi ISA):     4,326

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
1216 shares held for Mr. Fairey by LTSBSSTL were transferred to him on 26th
April, 2004. This was not a notifiable event under the Companies Act as there
was no change in the director's interest.

701 shares were allocated to Lloyds TSB Registrars Corporate Nominee Limited
AESOP1 account for Mr. Fairey under the Lloyds TSB Group Shareplan on 28th
April, 2004 at 427.4p per share

The company's registrar, which handles administrative arrangements relating to
the Lloyds TSB Group Shareplan, has just notified the company of the relevant
details.

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:     70,375
LTSBSSTL:     1,079
LTSBRCNL AESOP1:     1,579
LTSBR(I)NL:
- Mr. Fairey (Single company maxi ISA):     4,326

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
2,014,240

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
30TH APRIL, 2004

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.
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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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