ELI LILLY & Co — Director's Dealing 2003

Sep 15, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-09-11

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-11	31-Common Stock	S	2300	$62	Disposed	154503504	Direct
2003-09-11	32-Common Stock	S	1000	$61.97	Disposed	154502504	Direct
2003-09-11	33-Common Stock	S	100	$61.95	Disposed	154502404	Direct
2003-09-11	34-Common Stock	S	600	$61.93	Disposed	154501804	Direct
2003-09-11	35-Common Stock	S	2200	$61.92	Disposed	154499604	Direct
2003-09-11	36-Common Stock	S	800	$61.9	Disposed	154498804	Direct
2003-09-11	37-Common Stock	S	2400	$61.89	Disposed	154496404	Direct
2003-09-11	38-Common Stock	S	800	$61.88	Disposed	154495604	Direct
2003-09-11	39-Common Stock	S	400	$61.87	Disposed	154495204	Direct
2003-09-11	40-Common Stock	S	100	$61.86	Disposed	154495104	Direct
2003-09-11	41-Common Stock	S	800	$61.85	Disposed	154494304	Direct
2003-09-11	42-Common Stock	S	2600	$61.84	Disposed	154491704	Direct
2003-09-11	43-Common Stock	S	2800	$61.83	Disposed	154488904	Direct
2003-09-11	44-Common Stock	S	1800	$61.81	Disposed	154487104	Direct
2003-09-11	45-Common Stock	S	2400	$61.8	Disposed	154484704	Direct
2003-09-11	46-Common Stock	S	800	$61.78	Disposed	154483904	Direct
2003-09-11	47-Common Stock	S	1600	$61.77	Disposed	154482304	Direct
2003-09-11	48-Common Stock	S	2000	$61.76	Disposed	154480304	Direct
2003-09-11	49-Common Stock	S	900	$61.75	Disposed	154479404	Direct
2003-09-11	50-Common Stock	S	1500	$61.74	Disposed	154477904	Direct
2003-09-11	51-Common Stock	S	3300	$61.73	Disposed	154474604	Direct
2003-09-11	52-Common Stock	S	800	$61.71	Disposed	154473804	Direct
2003-09-11	53-Common Stock	S	1600	$61.7	Disposed	154472204	Direct
2003-09-11	54-Common Stock	S	1600	$61.69	Disposed	154470604	Direct
2003-09-11	55-Common Stock	S	8000	$61.67	Disposed	154462604	Direct
2003-09-11	56-Common Stock	S	800	$61.66	Disposed	154461804	Direct
2003-09-11	57-Common Stock	S	100	$61.58	Disposed	154461704	Direct
2003-09-11	58-Common Stock	S	4000	$61.55	Disposed	154457704	Direct
2003-09-11	59-Common Stock	S	800	$61.53	Disposed	154456904	Direct
2003-09-11	60-Common Stock	S	4000	$61.52	Disposed	154452904	Direct