Directorate Change

Lloyds TSB Group PLC
23 September 2003



140/03                                   23 September 2003

BOARD CHANGES AT LLOYDS TSB GROUP PLC

The board of Lloyds TSB Group today announced the appointment of Archie Kane as
the new Group Executive Director, Insurance and Investments from 1 October 2003.
He will also become the Chief Executive of Scottish Widows from the same date.
Mike Ross, the current Chief Executive of Scottish Widows will leave the Lloyds
TSB Group board and the board of Scottish Widows on 30 September after nearly 40
years with Scottish Widows.

These changes are part of a restructuring of the executive team to support the
strategy outlined by the Group Chief Executive at the interim results. Building
on the strong Scottish Widows brand and the growing IFA business built up under
Mike Ross - the emphasis of these changes is to look to the future and to
implement the new plan for Scottish Widows.

Archie Kane has held a range of senior appointments within Lloyds TSB including
retail financial services with involvement in life and pensions, savings and
investments, and general insurance. He was project director for the post-merger
integration of Lloyds and TSB. Archie Kane was appointed Group Executive
Director, IT and Operations on 1 January 2000 and is a Scottish Chartered
Accountant.

Eric Daniels, Group Chief Executive of Lloyds TSB, said: "Archie Kane has an
exceptional track record in the financial services industry. We have a clear
five year plan for Scottish Widows which Archie Kane has the wide financial
services experience to implement - along with the excellent team that Mike Ross
has built during his many years as Chief Executive of Scottish Widows."

Mike Ross was appointed Deputy Group Chief Executive of Lloyds TSB in March 2000
following the merger with Scottish Widows. He started his career in 1964 with
Scottish Widows and has given a life-time of service to the life assurance
industry including a period as Chairman of the Association of British Insurers.

                                                                       ..../more

BOARD CHANGES AT LLOYDS TSB GROUP PLC ..../2

Maarten van den Bergh, Chairman of Lloyds TSB, said: "Mike Ross has been a
leading figure in the industry for two decades. His contribution to development
and modernisation - not only of Scottish Widows but of the life and pensions
industry in the UK - has been unmatched."

Chris Wiscarson will take on the previous responsibilities of Archie Kane as
Director of Group IT & Operations and will join the executive committee but will
not be a member of the Group board. He joined the board of the publicly quoted
Lloyds Abbey Life in 1990 as European Director. In 1991 he took over as Group
Finance Director and was appointed Managing Director of Black Horse Financial
Services in 1993, heading the merger of Black Horse Financial Services and TSB
Life in 1998. He took over his current role as Managing Director, International
Banking in June 2000.

Mike Ross will be compensated in line with his contractual entitlement.

                                    - ends -

Full biographical details of Mike Ross, Archie Kane and Chris Wiscarson are
available.


For further information:

Investor Relations

Michael Oliver          [phone]

Director of Investor Relations

E-mail: [e-mail]

Ian Gordon                                             [phone]

Senior Manager, Investor Relations

E-mail: [e-mail]

Media

Terrence Collis                                        [phone]

Director of Group Corporate Communications

E-mail: [e-mail]

Mary Walsh                                             [phone]

Head of Media Relations

E-mail: [e-mail]

                                                                       .../more


BOARD CHANGES AT LLOYDS TSB GROUP PLC ..../3


FORWARD LOOKING STATEMENTS

This announcement contains forward looking statements with respect to the
business, strategy and plans of the Lloyds TSB Group, its current goals and
expectations relating to its future financial condition and performance.  By
their nature, forward looking statements involve risk and uncertainty because
they relate to events and depend on circumstances that will occur in the future.
  Lloyds TSB Group's actual future results may differ materially from the
results expressed or implied in these forward looking statements as a result of
a variety of factors, including UK domestic and global economic and business
conditions, risks concerning borrower credit quality, market related risks such
as interest rate risk and exchange rate risk in its banking business and equity
risk in its insurance businesses, changing demographic trends, unexpected
changes to regulation or regulatory actions, changes in customer preferences,
competition and other factors.  Please refer to the latest Annual Report on Form
20-F of Lloyds TSB Group filed with the US Securities and Exchange Commission
for a discussion of such factors.

                      This information is provided by RNS
            The company news service from the London Stock Exchange