ELI LILLY & Co - Director's Dealing 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-09-12

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-12	31-Common Stock	S	7000	$61.27	Disposed	154263804	Direct
2003-09-12	32-Common Stock	S	1000	$61.26	Disposed	154262804	Direct
2003-09-12	33-Common Stock	S	8400	$61.25	Disposed	154254404	Direct
2003-09-12	34-Common Stock	S	4800	$61.24	Disposed	154249604	Direct
2003-09-12	35-Common Stock	S	1800	$61.23	Disposed	154247804	Direct
2003-09-12	36-Common Stock	S	1800	$61.22	Disposed	154246004	Direct
2003-09-12	37-Common Stock	S	6000	$61.21	Disposed	154240004	Direct
2003-09-12	38-Common Stock	S	1800	$61.2	Disposed	154238204	Direct
2003-09-12	39-Common Stock	S	1600	$61.19	Disposed	154236604	Direct
2003-09-12	40-Common Stock	S	2000	$61.18	Disposed	154234604	Direct
2003-09-12	41-Common Stock	S	800	$61.17	Disposed	154233804	Direct
2003-09-12	42-Common Stock	S	1600	$61.16	Disposed	154232204	Direct
2003-09-12	43-Common Stock	S	1600	$61.15	Disposed	154230604	Direct
2003-09-12	44-Common Stock	S	2600	$61.14	Disposed	154228004	Direct
2003-09-12	45-Common Stock	S	1600	$61.13	Disposed	154226404	Direct
2003-09-12	46-Common Stock	S	800	$61.12	Disposed	154225604	Direct
2003-09-12	47-Common Stock	S	800	$61.11	Disposed	154224804	Direct
2003-09-12	48-Common Stock	S	2400	$61.1	Disposed	154222404	Direct
2003-09-12	49-Common Stock	S	800	$61.07	Disposed	154221604	Direct
2003-09-12	50-Common Stock	S	800	$61.06	Disposed	154220804	Direct