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	1-Common Stock	S	600	$67.05	Disposed	154220204	Direct
2003-10-29	2-Common Stock	S	2400	$67	Disposed	154217804	Direct
2003-10-29	3-Common Stock	S	2100	$66.95	Disposed	154215704	Direct
2003-10-29	4-Common Stock	S	200	$66.91	Disposed	154215504	Direct
2003-10-29	5-Common Stock	S	1300	$66.9	Disposed	154214204	Direct
2003-10-29	6-Common Stock	S	1400	$66.89	Disposed	154212804	Direct
2003-10-29	7-Common Stock	S	1400	$66.85	Disposed	154211404	Direct
2003-10-29	8-Common Stock	S	900	$66.76	Disposed	154210504	Direct
2003-10-29	9-Common Stock	S	500	$66.75	Disposed	154210004	Direct
2003-10-29	10-Common Stock	S	1400	$66.73	Disposed	154208604	Direct
2003-10-29	11-Common Stock	S	600	$66.7	Disposed	154208004	Direct
2003-10-29	12-Common Stock	S	600	$66.69	Disposed	154207404	Direct
2003-10-29	13-Common Stock	S	1400	$66.68	Disposed	154206004	Direct
2003-10-29	14-Common Stock	S	600	$66.66	Disposed	154205404	Direct
2003-10-29	15-Common Stock	S	400	$66.64	Disposed	154205004	Direct
2003-10-29	16-Common Stock	S	600	$66.62	Disposed	154204404	Direct
2003-10-29	17-Common Stock	S	1500	$66.6	Disposed	154202904	Direct
2003-10-29	18-Common Stock	S	1900	$66.59	Disposed	154201004	Direct
2003-10-29	19-Common Stock	S	2100	$66.58	Disposed	154198904	Direct
2003-10-29	20-Common Stock	S	600	$66.57	Disposed	154198304	Direct
2003-10-29	21-Common Stock	S	600	$66.56	Disposed	154197704	Direct
2003-10-29	22-Common Stock	S	3900	$66.55	Disposed	154193804	Direct
2003-10-29	23-Common Stock	S	4100	$66.54	Disposed	154189704	Direct
2003-10-29	24-Common Stock	S	2300	$66.53	Disposed	154187404	Direct
2003-10-29	25-Common Stock	S	1300	$66.52	Disposed	154186104	Direct
2003-10-29	26-Common Stock	S	1700	$66.5	Disposed	154184404	Direct
2003-10-29	27-Common Stock	S	2800	$66.49	Disposed	154181604	Direct
2003-10-29	28-Common Stock	S	800	$66.48	Disposed	154180804	Direct
2003-10-29	29-Common Stock	S	1000	$66.47	Disposed	154179804	Direct
2003-10-29	30-Common Stock	S	800	$66.46	Disposed	154179004	Direct