Director Shareholding

Lloyds TSB Group PLC
23 September 2003


The London Stock Exchange
RNS
Old Broad Street
London EC2N 1HP
                                                           23rd September, 2003

Dear Sirs,

Lloyds TSB Group plc ordinary shares of 25p each

Notification of interests of directors

Hill Samuel ESOP Trustees Limited, as trustee of the Lloyds TSB Group Shareplan,
allocated 184,659 ordinary shares of 25p each in the capital of Lloyds TSB Group
plc to participants in Shareplan, to satisfy allocations of "matching shares" to
staff under Shareplan on 22nd September 2003 and accordingly, those shares were
transferred from the Lloyds TSB Registrars Corporate Nominee Limited a/c AESOP3
(unallocated shares) to the Lloyds TSB Registrars Corporate Nominee Limited a/c
AESOP1 (allocated shares).

Additionally, 36,069 ordinary shares of 25p each in the capital of Lloyds TSB
Group plc were transferred from the Lloyds TSB Registrars Corporate Nominee
Limited a/c AESOP1 (allocated shares) to the Lloyds TSB Registrars Corporate
Nominee Limited a/c AESOP2 (unallocated shares) following the forfeiture of
shares, under the rules of Shareplan, by participants who have left the Group.

The following directors, together with some 80,000 other employees, are
potential participants in Shareplan and are, therefore, to be treated as
interested in the remaining 383,935 and 2,338,814 shares held by Lloyds TSB
Registrars Corporate Nominee Limited a/c AESOP2 and a/c AESOP3 (unallocated
shares) respectively.

Mr. P. G. E. Ayliffe
Mr. J.E. Daniels
Mr. M.E. Fairey
Mr. P.R. Hampton
Mr. A.G. Kane
Mr. D.P. Pritchard
Mr. M.D. Ross
Mr. S.C. Targett


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



Yours faithfully,

A.J. Michie, Secretary



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