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	1-Common Stock	S	3000	$66.99	Disposed	155267804	Direct
2003-09-02	2-Common Stock	S	600	$66.98	Disposed	155267204	Direct
2003-09-02	3-Common Stock	S	3300	$66.97	Disposed	155263904	Direct
2003-09-02	4-Common Stock	S	2300	$66.96	Disposed	155261604	Direct
2003-09-02	5-Common Stock	S	1300	$66.95	Disposed	155260304	Direct
2003-09-02	6-Common Stock	S	2200	$66.94	Disposed	155258104	Direct
2003-09-02	7-Common Stock	S	5700	$66.93	Disposed	155252404	Direct
2003-09-02	8-Common Stock	S	4400	$66.92	Disposed	155248004	Direct
2003-09-02	9-Common Stock	S	5200	$66.91	Disposed	155242804	Direct
2003-09-02	10-Common Stock	S	2800	$66.9	Disposed	155240004	Direct
2003-09-02	11-Common Stock	S	4100	$66.89	Disposed	155235904	Direct
2003-09-02	12-Common Stock	S	3900	$66.88	Disposed	155232004	Direct
2003-09-02	13-Common Stock	S	4200	$66.87	Disposed	155227804	Direct
2003-09-02	14-Common Stock	S	800	$66.86	Disposed	155227004	Direct
2003-09-02	15-Common Stock	S	7700	$66.85	Disposed	155219304	Direct
2003-09-02	16-Common Stock	S	2600	$66.84	Disposed	155216704	Direct
2003-09-02	17-Common Stock	S	1800	$66.83	Disposed	155214904	Direct
2003-09-02	18-Common Stock	S	2000	$66.82	Disposed	155212904	Direct
2003-09-02	19-Common Stock	S	2100	$66.81	Disposed	155210804	Direct
2003-09-02	20-Common Stock	S	10400	$66.8	Disposed	155200404	Direct
2003-09-02	21-Common Stock	S	2500	$66.79	Disposed	155197904	Direct
2003-09-02	22-Common Stock	S	4300	$66.78	Disposed	155193604	Direct
2003-09-02	23-Common Stock	S	4300	$66.77	Disposed	155189304	Direct
2003-09-02	24-Common Stock	S	1600	$66.76	Disposed	155187704	Direct
2003-09-02	25-Common Stock	S	900	$66.75	Disposed	155186804	Direct
2003-09-02	26-Common Stock	S	3200	$66.74	Disposed	155183604	Direct
2003-09-02	27-Common Stock	S	1100	$66.73	Disposed	155182504	Direct
2003-09-02	28-Common Stock	S	1600	$66.72	Disposed	155180904	Direct
2003-09-02	29-Common Stock	S	1900	$66.71	Disposed	155179004	Direct
2003-09-02	30-Common Stock	S	3500	$66.7	Disposed	155175504	Direct