Disposal

Lloyds TSB Group PLC
19 July 2004


119/04                                                              19 July 2004


LLOYDS TSB ANNOUNCES SALE OF BUSINESSES IN ARGENTINA AND COLOMBIA

Lloyds TSB Group has today announced the sale of businesses in Argentina and
Colombia. The sales continue the process started last year with the sale of The
National Bank of New Zealand and the Group's operations in Brazil, and will
allow the Group to concentrate on its core franchises.

Lloyds TSB Group has agreed the transfer by its wholly owned subsidiary, Lloyds
TSB Bank plc, of the business of its branch in Argentina, to Banco Patagonia
Sudameris S.A. At 30 June 2004 the net assets to be transferred, as consolidated
in the Group balance sheet, totalled approximately £8 million.

The Group has also agreed the sale of its principal businesses in Colombia
comprising its interests in Lloyds TSB Bank S.A. and in Lloyds Trust S.A. and
certain offshore assets, to Primer Banco del Istmo, S.A.  At 30 June 2004 the
net assets of the businesses and the offshore assets to be sold totalled
approximately £34 million.

The transfers are subject to approval by the relevant regulatory authorities.
Some £13 million of goodwill relating to the earlier acquisition of minority
shares in the Colombian business is being written-off in the Lloyds TSB Group
profit and loss account for the half-year to 30 June 2004.  Upon completion, the
net impact of the disposals to be recognised in the Group profit and loss
account is not expected to be material.

Eric Daniels, Lloyds TSB Group Chief Executive, said:

"These transactions will further focus the Group on its main franchises, where
we believe there are significant opportunities for growth."


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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, 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