ELI LILLY & Co — Director's Dealing 2003

Sep 3, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-09-02

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-02	61-Common Stock	S	1900	$66.35	Disposed	155132404	Direct
2003-09-02	62-Common Stock	S	1500	$66.34	Disposed	155130904	Direct
2003-09-02	63-Common Stock	S	400	$66.33	Disposed	155130504	Direct
2003-09-02	64-Common Stock	S	1800	$66.32	Disposed	155128704	Direct
2003-09-02	65-Common Stock	S	1500	$66.31	Disposed	155127204	Direct
2003-09-02	66-Common Stock	S	5200	$66.3	Disposed	155122004	Direct
2003-09-02	67-Common Stock	S	2400	$66.29	Disposed	155119604	Direct
2003-09-02	68-Common Stock	S	800	$66.28	Disposed	155118804	Direct
2003-09-02	69-Common Stock	S	1900	$66.27	Disposed	155116904	Direct
2003-09-02	70-Common Stock	S	900	$66.24	Disposed	155116004	Direct
2003-09-02	71-Common Stock	S	800	$66.23	Disposed	155115204	Direct
2003-09-02	72-Common Stock	S	1700	$66.21	Disposed	155113504	Direct
2003-09-02	73-Common Stock	S	3100	$66.2	Disposed	155110404	Direct
2003-09-02	74-Common Stock	S	100	$66.18	Disposed	155110304	Direct
2003-09-02	75-Common Stock	S	500	$66.16	Disposed	155109804	Direct
2003-09-02	76-Common Stock	S	1300	$66.15	Disposed	155108504	Direct
2003-09-02	77-Common Stock	S	600	$66.12	Disposed	155107904	Direct
2003-09-02	78-Common Stock	S	1000	$66.06	Disposed	155106904	Direct
2003-09-02	79-Common Stock	S	200	$66.04	Disposed	155106704	Direct
2003-09-02	80-Common Stock	S	100	$66.03	Disposed	155106604	Direct
2003-09-02	81-Common Stock	S	900	$66.02	Disposed	155105704	Direct
2003-09-02	82-Common Stock	S	2000	$66.01	Disposed	155103704	Direct
2003-09-02	83-Common Stock	S	500	$65.99	Disposed	155103204	Direct
2003-09-02	84-Common Stock	S	1000	$65.98	Disposed	155102204	Direct
2003-09-02	85-Common Stock	S	1000	$65.97	Disposed	155101204	Direct
2003-09-02	86-Common Stock	S	600	$65.95	Disposed	155100604	Direct
2003-09-02	87-Common Stock	S	1000	$65.94	Disposed	155099604	Direct
2003-09-02	88-Common Stock	S	1000	$65.92	Disposed	155098604	Direct
2003-09-02	89-Common Stock	S	1900	$65.91	Disposed	155096704	Direct
2003-09-02	90-Common Stock	S	1100	$65.9	Disposed	155095604	Direct