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	1-Common Stock	S	800	$62.38	Disposed	154565004	Direct
2003-09-11	2-Common Stock	S	1000	$62.37	Disposed	154564004	Direct
2003-09-11	3-Common Stock	S	100	$62.36	Disposed	154563904	Direct
2003-09-11	4-Common Stock	S	1000	$62.34	Disposed	154562904	Direct
2003-09-11	5-Common Stock	S	1000	$62.33	Disposed	154561904	Direct
2003-09-11	6-Common Stock	S	2800	$62.31	Disposed	154559104	Direct
2003-09-11	7-Common Stock	S	4700	$62.3	Disposed	154554404	Direct
2003-09-11	8-Common Stock	S	900	$62.29	Disposed	154553504	Direct
2003-09-11	9-Common Stock	S	1000	$62.28	Disposed	154552504	Direct
2003-09-11	10-Common Stock	S	1700	$62.27	Disposed	154550804	Direct
2003-09-11	11-Common Stock	S	1000	$62.26	Disposed	154549804	Direct
2003-09-11	12-Common Stock	S	3200	$62.25	Disposed	154546604	Direct
2003-09-11	13-Common Stock	S	2800	$62.24	Disposed	154543804	Direct
2003-09-11	14-Common Stock	S	2000	$62.23	Disposed	154541804	Direct
2003-09-11	15-Common Stock	S	800	$62.22	Disposed	154541004	Direct
2003-09-11	16-Common Stock	S	800	$62.21	Disposed	154540204	Direct
2003-09-11	17-Common Stock	S	2100	$62.2	Disposed	154538104	Direct
2003-09-11	18-Common Stock	S	1800	$62.19	Disposed	154536304	Direct
2003-09-11	19-Common Stock	S	800	$62.18	Disposed	154535504	Direct
2003-09-11	20-Common Stock	S	1000	$62.17	Disposed	154534504	Direct
2003-09-11	21-Common Stock	S	8000	$62.16	Disposed	154526504	Direct
2003-09-11	22-Common Stock	S	4000	$62.15	Disposed	154522504	Direct
2003-09-11	23-Common Stock	S	2000	$62.14	Disposed	154520504	Direct
2003-09-11	24-Common Stock	S	2700	$62.13	Disposed	154517804	Direct
2003-09-11	25-Common Stock	S	2000	$62.12	Disposed	154515804	Direct
2003-09-11	26-Common Stock	S	4000	$62.11	Disposed	154511804	Direct
2003-09-11	27-Common Stock	S	1000	$62.1	Disposed	154510804	Direct
2003-09-11	28-Common Stock	S	1000	$62.09	Disposed	154509804	Direct
2003-09-11	29-Common Stock	S	3000	$62.08	Disposed	154506804	Direct
2003-09-11	30-Common Stock	S	1000	$62.07	Disposed	154505804	Direct