Sale of Business in S.A.

Lloyds TSB Group PLC
01 December 2003




190/03                                        1 December 2003



LLOYDS TSB ANNOUNCES SALE OF ITS BUSINESSES IN GUATEMALA, HONDURAS AND PANAMA


Lloyds TSB Group has agreed the sale by its wholly owned subsidiary, Lloyds TSB
Bank plc, of the business of the branches in Guatemala, Honduras and Panama, and
certain other assets, to Corporacion UBC International S.A. and certain of its
subsidiaries, for a cash consideration equivalent to approximately £47 million.
The book value at 30 September 2003 of the businesses and assets sold was some
£42 million and risk-weighted assets were some £165 million. The businesses of
Guatemala, Honduras and Panama collectively contributed some £1.7 million to
Lloyds TSB Group attributable profit in 2002.


The disposals are subject to approval by the relevant regulatory authorities.
After costs, the net impact of the disposals to be recognised in the profit and
loss account of Lloyds TSB Group on completion is not expected to be material.




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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]


Media

Terrence Collis          [phone]

Director of Group Corporate Communications

E-mail: [e-mail]


Mary Walsh                                   [phone]

Head of 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, its current goals and
expectations relating to its future financial condition and performance.  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 business and equity
risk in its insurance businesses, changing demographic trends, unexpected
changes to regulation or regulatory actions, changes in customer preferences,
competition and other factors.  Please refer to the latest Annual Report on Form
20-F of Lloyds TSB Group filed with the US Securities and Exchange Commission
for a discussion of such factors.



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