Directorate Change

Lloyds TSB Group PLC
13 January 2004




09/04                                               13 January 2004


BOARD CHANGES AT LLOYDS TSB GROUP

Lloyds TSB Group announces that Group Finance Director, Philip Hampton, is to
leave the company. There has been a change in strategic direction since Philip
Hampton joined the Group in June 2002 resulting in a focus on organic growth
within the core businesses, including bancassurance. This has meant a move away
from the merger, acquisition and restructuring activity that was the strategic
focus at the time of his appointment. He will leave immediately and will be
compensated in line with his contractual entitlement.

The Group has commenced a search for a suitable replacement, and pending an
appointment, the role of Group Finance Director will be undertaken by Mike
Fairey, Deputy Group Chief Executive, in addition to his existing duties.

Group Chief Executive, Eric Daniels, said: "I am grateful to Philip for the
contribution he has made to Lloyds TSB, particularly in helping me reduce
volatility and put in place a firm platform for growth. As I indicated in the
December trading statement: we are now in a better position to deliver improved
performance in 2004 and beyond."



                                    - ends -



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]





                           FORWARD LOOKING STATEMENTS

This announcement contains forward looking statements with respect to the
business, strategy and plans of the Lloyds TSB Group and its current goals and
expectations relating to its future financial condition and performance.
Statements that are not historical facts, including statements about Lloyds TSB
Group's or management's beliefs and expectations, are forward looking
statements. 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 businesses and equity risk in its insurance businesses, inherent risks
regarding changing demographic developments, catastrophic weather and similar
contingencies outside Lloyds TSB Group's control, any adverse experience in
inherent operational risks, any unexpected developments in regulation or
regulatory actions, changes in customer preferences, competition, industry
consolidation, acquisitions and other factors. For more information on these and
other factors, please refer to Lloyds TSB Group's Annual Report on Form 20-F
filed with the US Securities and Exchange Commission and to any subsequent
reports furnished by Lloyds TSB Group to the US Securities and Exchange
Commission or to the London Stock Exchange. The forward looking statements
contained in this announcement are made as of the date hereof, and Lloyds TSB
Group undertakes no obligation to update any of its forward looking statements.








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