Director Shareholding

Lloyds TSB Group PLC
30 November 2001

                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

LLOYDS TSB GROUP plc

2)  NAME OF DIRECTOR

MICHAEL EDWARD FAIREY

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

HOLDING OF DIRECTOR

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

SEE APPENDIX BELOW

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

N/A

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

SEE APPENDIX BELOW

7)  Number of shares/amount of
    stock acquired

SEE APPENDIX BELOW

8)   (MINIMAL %)
    of issued Class


9)  Number of shares/amount
    of stock disposed

N/A

10)  ( N/A %)
    of issued Class


11) Class of security

ORDINARY SHARES OF 25P EACH

12) Price per share

SEE APPENDIX BELOW

13) Date of transaction

SEE APPENDIX BELOW

14) Date company informed

 30.11.01

15) Total holding following this notification

 SEE APPENDIX BELOW
 
16) Total percentage holding of issued class following this notification

 MINIMAL

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant

 -

18) Period during which or date on which exercisable

 -

19) Total amount paid (if any) for grant of the option

 -

20) Description of shares or debentures involved: class, number.

 -

21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise

 -

22) Total number of shares or debentures over which options held
    following this notification

 448,138

23) Any additional information

 -

24) Name of contact and telephone number for queries

 A.J. MICHIE
 020 7356 1043

25) Name and signature of authorised company official responsible for
    making this notification

 A.J. MICHIE

    Date of Notification   30TH NOVEMBER, 2001                                





APPENDIX

LLOYDS TSB GROUP plc
MR M. E. FAIREY


                               SCHEDULE 11
          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


SECTION 4

Names of the registered holders and the number of shares held by each of them 
before this notification:

 Mr Fairey:                                                          67,257
 Lloyds TSB Share Schemes Trustees Limited (LTSBSSTL):                3,367
 Lloyds TSB Registrars (ISA) Nominees Limited (LTSBR(I)NL):          
 - Mr. Fairey (Single company maxi ISA):                              2,917


SECTION 6, 7, 12 AND 13

On the 8th November, Mr Fairey applied to exercise a savings-related share 
option on 617 shares at 632p per share.

When he became aware of the details of the transaction, he notified the company 
on 30th November.


SECTION 15

  Mr. Fairey:                                                        67,874
  LTSBSSTL:                                                           3,367
  LTSBR(I)NL:                       
  - Mr. Fairey (Single company maxi ISA):                             2,917



A. J. Michie
Secretary                                                 30th November 2001