Director Shareholding

Lloyds TSB Group PLC
20 January 2005


The London Stock Exchange
RNS
10 Paternoster Square
London EC4M 7LS
                                         20th January, 2005





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 1,766 ordinary shares of 25p
each in the capital of Lloyds TSB Group plc at 321p per share to an individual
who had exercised share options granted under one of the group's employee share
schemes.

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 1,465,656 shares held by the trust.

Mr. P.G.E. Ayliffe

Mr. J.E. Daniels

Mr. M.E. Fairey

Mr. A.G. Kane

Mr. D.P. Pritchard

Mr. G.T. Tate

Mr. M.A. van den Bergh

Mrs. H.A. Weir


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

Yours faithfully,



A.J. Michie

Secretary






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