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	1-Common Stock	S	2000	$62.3	Disposed	155068804	Direct
2003-09-08	2-Common Stock	S	1000	$62.24	Disposed	155067804	Direct
2003-09-08	3-Common Stock	S	1000	$62.21	Disposed	155066804	Direct
2003-09-08	4-Common Stock	S	2000	$62.17	Disposed	155064804	Direct
2003-09-08	5-Common Stock	S	1000	$62.15	Disposed	155063804	Direct
2003-09-08	6-Common Stock	S	2000	$62.14	Disposed	155061804	Direct
2003-09-08	7-Common Stock	S	800	$62.13	Disposed	155061004	Direct
2003-09-08	8-Common Stock	S	2000	$62.12	Disposed	155059004	Direct
2003-09-08	9-Common Stock	S	1000	$62.11	Disposed	155058004	Direct
2003-09-08	10-Common Stock	S	1000	$62.1	Disposed	155057004	Direct
2003-09-08	11-Common Stock	S	2800	$62.09	Disposed	155054204	Direct
2003-09-08	12-Common Stock	S	1000	$62.08	Disposed	155053204	Direct
2003-09-08	13-Common Stock	S	1000	$62.05	Disposed	155052204	Direct
2003-09-08	14-Common Stock	S	1000	$62.03	Disposed	155051204	Direct
2003-09-08	15-Common Stock	S	1000	$62.02	Disposed	155050204	Direct
2003-09-08	16-Common Stock	S	1200	$62.01	Disposed	155049004	Direct
2003-09-08	17-Common Stock	S	1500	$62	Disposed	155047504	Direct
2003-09-08	18-Common Stock	S	1000	$61.99	Disposed	155046504	Direct
2003-09-08	19-Common Stock	S	1300	$61.98	Disposed	155045204	Direct
2003-09-08	20-Common Stock	S	900	$61.97	Disposed	155044304	Direct
2003-09-08	21-Common Stock	S	1000	$61.96	Disposed	155043304	Direct
2003-09-08	22-Common Stock	S	800	$61.95	Disposed	155042504	Direct
2003-09-08	23-Common Stock	S	1500	$61.94	Disposed	155041004	Direct
2003-09-08	24-Common Stock	S	1400	$61.93	Disposed	155039604	Direct
2003-09-08	25-Common Stock	S	1800	$61.92	Disposed	155037804	Direct
2003-09-08	26-Common Stock	S	3300	$61.91	Disposed	155034504	Direct
2003-09-08	27-Common Stock	S	4000	$61.9	Disposed	155030504	Direct
2003-09-08	28-Common Stock	S	3200	$61.89	Disposed	155027304	Direct
2003-09-08	29-Common Stock	S	6800	$61.88	Disposed	155020504	Direct
2003-09-08	30-Common Stock	S	4800	$61.87	Disposed	155015704	Direct