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: 2003-09-12

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-12	1-Common Stock	S	200	$61.58	Disposed	154395604	Direct
2003-09-12	2-Common Stock	S	800	$61.57	Disposed	154394804	Direct
2003-09-12	3-Common Stock	S	800	$61.56	Disposed	154394004	Direct
2003-09-12	4-Common Stock	S	3700	$61.55	Disposed	154390304	Direct
2003-09-12	5-Common Stock	S	7200	$61.54	Disposed	154383104	Direct
2003-09-12	6-Common Stock	S	3600	$61.53	Disposed	154379504	Direct
2003-09-12	7-Common Stock	S	7400	$61.51	Disposed	154372104	Direct
2003-09-12	8-Common Stock	S	8000	$61.5	Disposed	154364104	Direct
2003-09-12	9-Common Stock	S	7400	$61.49	Disposed	154356704	Direct
2003-09-12	10-Common Stock	S	2400	$61.48	Disposed	154354304	Direct
2003-09-12	11-Common Stock	S	2800	$61.47	Disposed	154351504	Direct
2003-09-12	12-Common Stock	S	3400	$61.46	Disposed	154348104	Direct
2003-09-12	13-Common Stock	S	4800	$61.45	Disposed	154343304	Direct
2003-09-12	14-Common Stock	S	7500	$61.44	Disposed	154335804	Direct
2003-09-12	15-Common Stock	S	4200	$61.43	Disposed	154331604	Direct
2003-09-12	16-Common Stock	S	1000	$61.42	Disposed	154330604	Direct
2003-09-12	17-Common Stock	S	3000	$61.41	Disposed	154327604	Direct
2003-09-12	18-Common Stock	S	9300	$61.4	Disposed	154318304	Direct
2003-09-12	19-Common Stock	S	1800	$61.39	Disposed	154316504	Direct
2003-09-12	20-Common Stock	S	9700	$61.38	Disposed	154306804	Direct
2003-09-12	21-Common Stock	S	6500	$61.37	Disposed	154300304	Direct
2003-09-12	22-Common Stock	S	3600	$61.36	Disposed	154296704	Direct
2003-09-12	23-Common Stock	S	800	$61.35	Disposed	154295904	Direct
2003-09-12	24-Common Stock	S	2100	$61.34	Disposed	154293804	Direct
2003-09-12	25-Common Stock	S	3400	$61.33	Disposed	154290404	Direct
2003-09-12	26-Common Stock	S	2800	$61.32	Disposed	154287604	Direct
2003-09-12	27-Common Stock	S	5200	$61.31	Disposed	154282404	Direct
2003-09-12	28-Common Stock	S	2800	$61.3	Disposed	154279604	Direct
2003-09-12	29-Common Stock	S	1800	$61.29	Disposed	154277804	Direct
2003-09-12	30-Common Stock	S	7000	$61.28	Disposed	154270804	Direct