Directorate Change

Lloyds TSB Group PLC
06 February 2003



19/03   6 February 2003



LLOYDS TSB GROUP ANNOUNCES NEW EXECUTIVE DIRECTOR AND DEPUTY CHAIRMAN

The board of Lloyds TSB Group plc is pleased to announce that Steve Targett,
currently Chief Executive Officer Europe for National Australia Group will
succeed David Pritchard as Group Executive Director, Wholesale and International
Banking. David Pritchard will retire as an executive director at the Lloyds TSB
Group annual general meeting on 16 April 2003 and become Deputy Chairman
replacing Alan Moore CBE who leaves Lloyds TSB after 23 years of service
including 14 as a member of the Board.

Steve Targett will join the Group on 10 March and will take over David
Pritchard's responsibilities following the AGM.

Maarten van den Bergh, Chairman of Lloyds TSB Group plc, said: "I am doubly
delighted. Not only have we secured the services of Steve Targett who has a
tremendous background in wholesale and international banking in Australia,
Europe and the Far East, but we are also securing the continuing advice of David
Pritchard. In the role of Deputy Chairman he will be a key adviser to the board
particularly on wholesale, regulatory and technical issues.

"We will miss the wise counsel of Alan Moore. He has been one of the great
figures of international and wholesale banking over the last 30 years. In
particular, his knowledge of treasury and international banking has played a
valuable role in the success of Lloyds TSB."


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LLOYDS TSB GROUP ANNOUNCES NEW EXECUTIVE DIRECTOR AND DEPUTY CHAIRMAN ..../2





For further information:

Lloyds TSB Press Office

020 7626 1500

Notes to Editors:

 1. Biographical details are attached for Mr Targett, Mr Pritchard and Mr Moore
 2. To comply with paragraph 16.4 of the UK Listing Authority listing rules, the
    company confirms that:

     i. Mr. Targett has not held any directorship in any other publicly quoted
        company in the past five years; and
    ii. there are no matters required by paragraphs 6.F.2(b) to (g) of the
        listing rules to be disclosed regarding him.


BIOGRAPHICAL DETAILS



STEVE TARGETT

Steve Targett (47) started his career with National Australia Bank Limited in
1972. He returned to NAB in 1997, holding a number of positions in wholesale and
global markets before taking up his current position as Chief Executive Officer,
Europe in April 2002.

Following his early years in National Australia Bank working predominantly in
international operations and foreign exchange dealing: in 1980 he joined
commodity trading group Cargill spending his last four years working in London.
He then moved to the State Bank of South Australia becoming General Manager,
Global Treasury in 1990.

He joined ANZ Bank in 1991 working in Global Treasury, Financial Markets and
General Manager, Japan. He then returned to National Australia Bank in 1997.



DAVID PRITCHARD

David Pritchard became Group Executive Director, Wholesale and International
Banking and also Group Treasurer on 1 May 1998. Wholesale now covers the entire
business market including corporate, mid-corporate and small business sectors.

After graduating in Aeronautics and Astronautics in 1966, he spent five years in
the aircraft industry before specialising in big-ticket leasing in two merchant
banks. In 1978, he joined Citicorp Investment Bank, where he was responsible for
the original development of the currency and interest rate swap markets and
subsequently became Managing Director.

He joined TSB Group as Treasurer in 1995 and was seconded for a two year term to
the Securities and Investments Board in 1996, following TSB's merger with Lloyds
Bank. At the Securities and Investments Board, he was responsible for the
regulatory supervision and policy of the UK's markets and exchanges, and for all
the Securities and Investments Board's international activities.

He chaired the merger team drawn from the regulatory bodies which merged to form
the Financial Services Authority.



ALAN MOORE, CBE

Alan Moore's banking career began in 1953 with Glyn Mills & Co., in London. In
1974 he became Director General of the newly formed Bahrain Monetary Agency.
During the next five years he developed the activities of the Agency,
particularly the Offshore Banking concept which created a financial services
industry in Bahrain. He was awarded the CBE in the 1980 New Year's Honours list.

He joined Lloyds Bank International in 1980 initially as Director for Middle
East and Africa and subsequently as Treasurer and was appointed Director of
Treasury for the Lloyds Bank Group in January 1985.

In June 1988 he became Director of Corporate Banking and Treasury on the merger
of the two divisions into a single business unit and was appointed a Director of
Lloyds Bank with effect from 1 January 1989. In November 1994 he became Deputy
Chief Executive and Treasurer.

Following the merger of Lloyds Bank and TSB Group in 1995 he was appointed
Deputy Group Chief Executive and Treasurer with responsibility for the wholesale
and international businesses of Lloyds TSB Group plc.

Following his retirement from executive duties in April 1998 he was appointed
Deputy Chairman.




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