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	31-Common Stock	S	3500	$66.69	Disposed	155172004	Direct
2003-09-02	32-Common Stock	S	4200	$66.68	Disposed	155167804	Direct
2003-09-02	33-Common Stock	S	1500	$66.67	Disposed	155166304	Direct
2003-09-02	34-Common Stock	S	1200	$66.66	Disposed	155165104	Direct
2003-09-02	35-Common Stock	S	500	$66.65	Disposed	155164604	Direct
2003-09-02	36-Common Stock	S	2300	$66.64	Disposed	155162304	Direct
2003-09-02	37-Common Stock	S	600	$66.63	Disposed	155161704	Direct
2003-09-02	38-Common Stock	S	700	$66.62	Disposed	155161004	Direct
2003-09-02	39-Common Stock	S	1000	$66.61	Disposed	155160004	Direct
2003-09-02	40-Common Stock	S	1200	$66.59	Disposed	155158804	Direct
2003-09-02	41-Common Stock	S	1400	$66.58	Disposed	155157404	Direct
2003-09-02	42-Common Stock	S	2200	$66.57	Disposed	155155204	Direct
2003-09-02	43-Common Stock	S	4100	$66.56	Disposed	155151104	Direct
2003-09-02	44-Common Stock	S	1300	$66.55	Disposed	155149804	Direct
2003-09-02	45-Common Stock	S	1000	$66.54	Disposed	155148804	Direct
2003-09-02	46-Common Stock	S	600	$66.53	Disposed	155148204	Direct
2003-09-02	47-Common Stock	S	1600	$66.52	Disposed	155146604	Direct
2003-09-02	48-Common Stock	S	1900	$66.5	Disposed	155144704	Direct
2003-09-02	49-Common Stock	S	100	$66.49	Disposed	155144604	Direct
2003-09-02	50-Common Stock	S	200	$66.47	Disposed	155144404	Direct
2003-09-02	51-Common Stock	S	600	$66.46	Disposed	155143804	Direct
2003-09-02	52-Common Stock	S	3100	$66.45	Disposed	155140704	Direct
2003-09-02	53-Common Stock	S	200	$66.44	Disposed	155140504	Direct
2003-09-02	54-Common Stock	S	500	$66.43	Disposed	155140004	Direct
2003-09-02	55-Common Stock	S	1000	$66.42	Disposed	155139004	Direct
2003-09-02	56-Common Stock	S	1300	$66.4	Disposed	155137704	Direct
2003-09-02	57-Common Stock	S	100	$66.39	Disposed	155137604	Direct
2003-09-02	58-Common Stock	S	2000	$66.38	Disposed	155135604	Direct
2003-09-02	59-Common Stock	S	200	$66.37	Disposed	155135404	Direct
2003-09-02	60-Common Stock	S	1100	$66.36	Disposed	155134304	Direct