Director Shareholding

Lloyds TSB Group PLC
31 October 2000

                       DEALINGS BY DIRECTORS

1)  NAME OF COMPANY

LLOYDS TSB GROUP PLC

2)  NAME OF DIRECTOR

LAWRENCE McALLISTER URQUHART

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

SEE BELOW

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 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)

SEE BELOW

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

SEE BELOW

7)  Number of shares/amount of
    stock acquired

SEE BELOW

8)   (N/A %)
    of issued Class

MINIMAL

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 BELOW

13) Date of transaction

SEE BELOW

14) Date company informed

SEE BELOW

15) Total holding following this notification

SEE 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



23) Any additional information



24) Name of contact and telephone number for queries

A J MICHIE, SECRETARY    020 7356 1043

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

   Date of Notification   31st October, 2000                              



APPENDIX

LLOYDS TSB GROUP plc
MR L.M. URQUHART


SECTION 4

Lloyds TSB Registrars (ISA) Nominees Limited (LTSBR(1)NL):
- Mr. L.M. Urquhart (Single company maxi ISA)               1,046
- Mrs. E.C. Urquhart (Single company maxi ISA)              1,046



SECTIONS 3,5,6,7,12,13 AND 14

16 shares were purchased by Lloyds TSB Registrars (ISA) Nominees Limited on 11th
October, 2000 at 608p per share for each of Mr. and Mrs. L.M. Urquhart's single
company ISAs.

LTSBR(1)NL notify investors by post of details relating to ISAs.  The director
was, therefore, not aware of the changes relating to the holdings until some
time after the transactions.  The director notified the company today as soon as
he received the information from LTSBR(1)NL.



SECTION 15

Total holding following this notification:

     LTSBR(1)NL:
     -  Mr. Urquhart (Single company maxi ISA)     1,062
     -  Mrs. Urquhart (Single company maxi ISA)    1,062