Issue of Preference shares

Lloyds TSB Group PLC
04 January 2005

                                                                  4 January 2005




LLOYDS TSB GROUP plc (the "company")

To comply with the provisions of paragraph 9.10 (a) of the listing rules the
company gives notice that it has issued 400 6% non-cumulative redeemable
preference shares of 25p each.




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