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: 2003-09-10

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-10	31-Common Stock	S	5000	$62	Disposed	154594604	Direct
2003-09-10	32-Common Stock	S	1600	$61.99	Disposed	154593004	Direct
2003-09-10	33-Common Stock	S	3100	$61.98	Disposed	154589904	Direct
2003-09-10	34-Common Stock	S	2900	$61.97	Disposed	154587004	Direct
2003-09-10	35-Common Stock	S	2900	$61.96	Disposed	154584104	Direct
2003-09-10	36-Common Stock	S	5100	$61.95	Disposed	154579004	Direct
2003-09-10	37-Common Stock	S	1300	$61.94	Disposed	154577704	Direct
2003-09-10	38-Common Stock	S	4900	$61.93	Disposed	154572804	Direct
2003-09-10	39-Common Stock	S	2500	$61.92	Disposed	154570304	Direct
2003-09-10	40-Common Stock	S	2000	$61.9	Disposed	154568304	Direct
2003-09-10	41-Common Stock	S	500	$61.89	Disposed	154567804	Direct
2003-09-10	42-Common Stock	S	800	$61.84	Disposed	154567004	Direct
2003-09-10	43-Common Stock	S	1200	$61.83	Disposed	154565804	Direct