Result of AGM

Lloyds TSB Group PLC
19 April 2002


                               LLOYDS TSB GROUP plc

At the annual general meeting of the members of the company held at the
Edinburgh International Conference Centre, The Exchange, Morrison Street,
Edinburgh, EH3 8EE on 17th April, 2002, the following resolutions, as set out in
the notice of meeting, were passed.

                               ORDINARY RESOLUTION 9

(a) That the company be authorised to make donations to EU political
    organisations and to incur EU political expenditure (within the meaning of
    Part XA of the Companies Act 1985, as amended by the Political Parties,
    Elections and Referendums Act 2000), such donations and expenditure not
    exceeding in total the sum of £10,000 in any year during the period ending
    on 16 April 2006.

(b) That Lloyds TSB Bank plc be authorised to make donations to EU political
    organisations and to incur EU political expenditure (within the meaning of
    Part XA of the Companies Act 1985, as amended by the Political Parties,
    Elections and Referendums Act 2000), such donations and expenditure not
    exceeding in total the sum of £100,000 in any year during the period ending
    on 16 April 2006.

(c) That Lloyds TSB Scotland plc be authorised to make donations to EU political
    organisations and to incur EU political expenditure (within the meaning of
    Part XA of the Companies Act 1985, as amended by the Political Parties,
    Elections and Referendums Act 2000), such donations and expenditure not
    exceeding in total the sum of £40,000 in any year during the period ending
    on 16 April 2006.

(d) That Scottish Widows plc be authorised to make donations to EU political
    organisations and to incur EU political expenditure (within the meaning of
    Part XA of the Companies Act 1985, as amended by the Political Parties,
    Elections and Referendums Act 2000), such donations and expenditure not
    exceeding in total the sum of £30,000 in any year during the period ending
    on 16 April 2006.

(e) That Cheltenham & Gloucester plc be authorised to make donations to EU
    political organisations and to incur EU political expenditure (within the
    meaning of Part XA of the Companies Act 1985, as amended by the Political
    Parties, Elections and Referendums Act 2000), such donations and expenditure
    not exceeding in total the sum of £10,000 in any year during the period
    ending on 16 April 2006.

(f) That Lloyds TSB Asset Finance Division Limited be authorised to make
    donations to EU political organisations and to incur EU political
    expenditure (within the meaning of Part XA of the Companies Act 1985, as
    amended by the Political Parties, Elections and Referendums Act 2000), such
    donations and expenditure not exceeding in total the sum of £10,000 in any
    year during the period ending on 16 April 2006.

18th April, 2002



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