ELI LILLY & Co — Director's Dealing 2003

Oct 30, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-10-29

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-29	61-Common Stock	S	800	$66.06	Disposed	154126804	Direct
2003-10-29	62-Common Stock	S	1900	$66.05	Disposed	154124904	Direct
2003-10-29	63-Common Stock	S	1400	$66.04	Disposed	154123504	Direct
2003-10-29	64-Common Stock	S	1200	$66.03	Disposed	154122304	Direct
2003-10-29	65-Common Stock	S	800	$66.02	Disposed	154121504	Direct
2003-10-29	66-Common Stock	S	700	$66.01	Disposed	154120804	Direct