Lloyds Tsb Appoints Agriculture Director

PRESS RELEASE

17/03

Date: 4 February 2003

LLOYDS TSB APPOINTS AGRICULTURE DIRECTOR

Tim Porter has been appointed Agriculture Director for Lloyds TSB Business Banking. His role will include ,which includes responsibility for both Lloyds TSB Agriculture and The Agricultural Mortgage Corporation PLC (AMC).

Mr Porter, who was previously Head of of Agriculture for Lloyds TSB Agriculture, will commencecommences his new appointment with immediate effect. He takes over responsibility of for AMC from Managing Director, Alan Woods, who will retire in March 2003.

Mr Porter’s promotion follows increasing co-operation between Lloyds TSB Agriculture Agriculture and AMC for the benefit of their farmer customers. “Farmers will benefit from a more focused, cohesive and efficient approach to the agricultural industry from the Lloyds TSB Group. Importantly, AMC will remain as inan independent brand which continues to provide secured term loans to agricultural businesses. But farmersFarmers approaching Lloyds TSB Agriculture or AMC or Lloyds TSB Agriculture can now choose from a broad spectrum of financial products rather then the narrower range associated with just one of the brands,” says Mr Porter.

He continues, “The benefits of co-operation will run much deeper than product access, however. The Our changing industry presents many farmers with options for the future and will necessitate decisions to be taken some tough decisions will have to be taken. Lloyds TSB Agriculture and AMC can provide farmers with a unique type of farm business relationship to support this decision making process, choose the right option and to help put it in place”

-END-

Notes To Editors:

·  Mr Porter comes from a Westcountry dairy farming family and obtained a first class honours degree in Agriculture from Seale-Hayne College, completing his education with an MBA from Newcastle University. Prior to joining Lloyds TSB in November 1999 he worked in the agricultural consultancy and livestock industry sector for over 12 years and was a Regional Director for Genus plc.

·  The combined business of Lloyds TSB Agriculture and AMC is one of the largest financiers in UK agriculture, with over 30,000 farm business customers and with lending to the sector of over £2 billion – representing a leading market share of circa 25%.

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