ELI LILLY & Co — Director's Dealing 2003

Sep 11, 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)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-10	1-Common Stock	S	1600	$62.3	Disposed	154729204	Direct
2003-09-10	2-Common Stock	S	1000	$62.29	Disposed	154728204	Direct
2003-09-10	3-Common Stock	S	2600	$62.28	Disposed	154725604	Direct
2003-09-10	4-Common Stock	S	3200	$62.27	Disposed	154722404	Direct
2003-09-10	5-Common Stock	S	800	$62.26	Disposed	154721604	Direct
2003-09-10	6-Common Stock	S	800	$62.25	Disposed	154720804	Direct
2003-09-10	7-Common Stock	S	5800	$62.24	Disposed	154715004	Direct
2003-09-10	8-Common Stock	S	800	$62.23	Disposed	154714204	Direct
2003-09-10	9-Common Stock	S	1300	$62.22	Disposed	154712904	Direct
2003-09-10	10-Common Stock	S	6100	$62.21	Disposed	154706804	Direct
2003-09-10	11-Common Stock	S	6100	$62.2	Disposed	154700704	Direct
2003-09-10	12-Common Stock	S	4200	$62.19	Disposed	154696504	Direct
2003-09-10	13-Common Stock	S	5200	$62.18	Disposed	154691304	Direct
2003-09-10	14-Common Stock	S	5500	$62.17	Disposed	154685804	Direct
2003-09-10	15-Common Stock	S	6600	$62.16	Disposed	154679204	Direct
2003-09-10	16-Common Stock	S	8400	$62.15	Disposed	154670804	Direct
2003-09-10	17-Common Stock	S	9500	$62.14	Disposed	154661304	Direct
2003-09-10	18-Common Stock	S	4900	$62.13	Disposed	154656404	Direct
2003-09-10	19-Common Stock	S	800	$62.12	Disposed	154655604	Direct
2003-09-10	20-Common Stock	S	8900	$62.11	Disposed	154646704	Direct
2003-09-10	21-Common Stock	S	4100	$62.1	Disposed	154642604	Direct
2003-09-10	22-Common Stock	S	2600	$62.09	Disposed	154640004	Direct
2003-09-10	23-Common Stock	S	11200	$62.08	Disposed	154628804	Direct
2003-09-10	24-Common Stock	S	3600	$62.07	Disposed	154625204	Direct
2003-09-10	25-Common Stock	S	3400	$62.06	Disposed	154621804	Direct
2003-09-10	26-Common Stock	S	1600	$62.05	Disposed	154620204	Direct
2003-09-10	27-Common Stock	S	6200	$62.04	Disposed	154614004	Direct
2003-09-10	28-Common Stock	S	9200	$62.03	Disposed	154604804	Direct
2003-09-10	29-Common Stock	S	3600	$62.02	Disposed	154601204	Direct
2003-09-10	30-Common Stock	S	1600	$62.01	Disposed	154599604	Direct