ELI LILLY & Co — Director's Dealing 2003

Sep 9, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-09-08

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-08	31-Common Stock	S	2700	$61.86	Disposed	155013004	Direct
2003-09-08	32-Common Stock	S	7000	$61.85	Disposed	155006004	Direct
2003-09-08	33-Common Stock	S	3200	$61.84	Disposed	155002804	Direct
2003-09-08	34-Common Stock	S	7700	$61.83	Disposed	154995104	Direct
2003-09-08	35-Common Stock	S	2800	$61.82	Disposed	154992304	Direct
2003-09-08	36-Common Stock	S	4200	$61.81	Disposed	154988104	Direct
2003-09-08	37-Common Stock	S	7900	$61.8	Disposed	154980204	Direct
2003-09-08	38-Common Stock	S	1800	$61.79	Disposed	154978404	Direct
2003-09-08	39-Common Stock	S	4000	$61.78	Disposed	154974404	Direct
2003-09-08	40-Common Stock	S	2600	$61.77	Disposed	154971804	Direct
2003-09-08	41-Common Stock	S	1000	$61.76	Disposed	154970804	Direct
2003-09-08	42-Common Stock	S	10300	$61.75	Disposed	154960504	Direct
2003-09-08	43-Common Stock	S	800	$61.74	Disposed	154959704	Direct
2003-09-08	44-Common Stock	S	1000	$61.73	Disposed	154958704	Direct
2003-09-08	45-Common Stock	S	5962	$61.72	Disposed	154952742	Direct
2003-09-08	46-Common Stock	S	1600	$61.71	Disposed	154951142	Direct
2003-09-08	47-Common Stock	S	1900	$61.69	Disposed	154949242	Direct
2003-09-08	48-Common Stock	S	800	$61.68	Disposed	154948442	Direct
2003-09-08	49-Common Stock	S	1800	$61.67	Disposed	154946642	Direct
2003-09-08	50-Common Stock	S	2700	$61.66	Disposed	154943942	Direct
2003-09-08	51-Common Stock	S	600	$61.65	Disposed	154943342	Direct
2003-09-08	52-Common Stock	S	1100	$61.64	Disposed	154942242	Direct
2003-09-08	53-Common Stock	S	7300	$61.63	Disposed	154934942	Direct
2003-09-08	54-Common Stock	S	5200	$61.62	Disposed	154929742	Direct
2003-09-08	55-Common Stock	S	3900	$61.61	Disposed	154925842	Direct
2003-09-08	56-Common Stock	S	4938	$61.6	Disposed	154920904	Direct
2003-09-08	57-Common Stock	S	6500	$61.59	Disposed	154914404	Direct
2003-09-08	58-Common Stock	S	7100	$61.58	Disposed	154907304	Direct
2003-09-08	59-Common Stock	S	5000	$61.57	Disposed	154902304	Direct
2003-09-08	60-Common Stock	S	1600	$61.56	Disposed	154900704	Direct