Acquisition

Lloyds TSB Group PLC
23 December 2004


232/04
                          23 December 2004


LLOYDS TSB ACQUIRES CORPORATE LOAN PORTFOLIO


Lloyds TSB Group has agreed the acquisition by its wholly owned subsidiary,
Lloyds TSB Bank plc, of a UK corporate loan portfolio from Danske Bank.  The
portfolio comprises some 110 relationships, with total assets of £1.5 billion,
and, after taking account of undrawn facilities, risk-weighted assets of some
£2.5 billion.  There will be no effect on net assets.


Truett Tate, Group Executive Director, Wholesale & International Banking, said:
"This deal is a perfect fit with our wholesale banking growth strategy as it
will allow us to deepen the relationships we have with a number of our existing
corporate customers and acquire some important new corporate relationships.  Our
track record in relationship management and commitment to the UK corporate
market were integral factors in Danske's decision to place the business with
Lloyds TSB. This transaction is not just about acquiring a portfolio of assets,
it is about taking on the ongoing relationships and continuing to strengthen the
growth within our wholesale businesses."


                                     -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]



                                                                        .../more


LLOYDS TSB ACQUIRES CORPORATE LOAN PORTFOLIO/...2



Media

Terrence Collis                                     [phone]

Director of Group Corporate Communications

E-mail: [e-mail]


                                                    
Kirsty Clay                                         [phone]

Senior Manager, 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.




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