Director Shareholding

Lloyds TSB Group PLC
31 January 2002


Lloyds TSB Group plc ordinary shares of 25p each 
Notification of interests of directors

Lloyds TSB Quest Limited, as trustee of the Lloyds TSB qualifying employee 
share ownership trust, and Hill Samuel Offshore Trust Company Limited, as 
trustee of the Lloyds TSB Group employee share ownership trust, today 
transferred 98,814 and 1,732 shares, respectively, at prices ranging from l6lp 
to 719p per share to individuals who had exercised share options granted under 
the group's employee share schemes.

In addition, Hill Samuel Offshore Trust Company Limited, as trustee of the 
Lloyds TSB Group employee share ownership trust, today transferred 232 shares 
to certain of these individuals to compensate them for the special dividend of 
68.3p per share which was paid to former TSB Group plc shareholders in 1996, 
following the merger with Lloyds Bank Plc, but which was not paid to 
optionholders.

The following directors, together with some 73,000 other employees, are 
potential beneficiaries of the trusts and are therefore to be treated as 
interested in the remaining 1,911,683 and 1,947,827 shares, respectively, 
held by these trusts.

                         Mr. M.K. Atkinson
                         Mr. J.E. Daniels
                         Mr. P.B. Ellwood
                         Mr. M.E. Fairey
                         Mr. A.G. Kane
                         Mr. A.E. Moore
                         Mr. D.P. Pritchard
                         Mr. M.D. Ross
                         Mr. M.A. van den Bergh

This notification is made to comply with paragraph 16.13 of the listing rules. 


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