ELI LILLY & Co — Director's Dealing 2003

Aug 29, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-28

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-28	31-Common Stock	S	2400	$65.66	Disposed	155350904	Direct
2003-08-28	32-Common Stock	S	1600	$65.65	Disposed	155349304	Direct
2003-08-28	33-Common Stock	S	800	$65.64	Disposed	155348504	Direct
2003-08-28	34-Common Stock	S	3900	$65.63	Disposed	155344604	Direct
2003-08-28	35-Common Stock	S	1600	$65.62	Disposed	155343004	Direct
2003-08-28	36-Common Stock	S	800	$65.61	Disposed	155342204	Direct
2003-08-28	37-Common Stock	S	4800	$65.6	Disposed	155337404	Direct
2003-08-28	38-Common Stock	S	1000	$65.59	Disposed	155336404	Direct
2003-08-28	39-Common Stock	S	800	$65.58	Disposed	155335604	Direct
2003-08-28	40-Common Stock	S	1600	$65.57	Disposed	155334004	Direct
2003-08-28	41-Common Stock	S	1800	$65.56	Disposed	155332204	Direct
2003-08-28	42-Common Stock	S	3800	$65.55	Disposed	155328404	Direct
2003-08-28	43-Common Stock	S	1600	$65.54	Disposed	155326804	Direct
2003-08-28	44-Common Stock	S	1000	$65.51	Disposed	155325804	Direct
2003-08-28	45-Common Stock	S	2000	$65.48	Disposed	155323804	Direct
2003-08-28	46-Common Stock	S	1000	$65.43	Disposed	155322804	Direct
2003-08-28	47-Common Stock	S	1000	$65.41	Disposed	155321804	Direct
2003-08-28	48-Common Stock	S	1000	$65.38	Disposed	155320804	Direct
2003-08-28	49-Common Stock	S	1000	$65.37	Disposed	155319804	Direct
2003-08-28	50-Common Stock	S	2800	$65.36	Disposed	155317004	Direct
2003-08-28	51-Common Stock	S	2000	$65.33	Disposed	155315004	Direct
2003-08-28	52-Common Stock	S	1200	$65.32	Disposed	155313804	Direct
2003-08-28	53-Common Stock	S	1000	$65.31	Disposed	155312804	Direct
2003-08-28	54-Common Stock	S	3800	$65.3	Disposed	155309004	Direct
2003-08-28	55-Common Stock	S	1800	$65.29	Disposed	155307204	Direct
2003-08-28	56-Common Stock	S	1000	$65.27	Disposed	155306204	Direct
2003-08-28	57-Common Stock	S	2800	$65.26	Disposed	155303404	Direct
2003-08-28	58-Common Stock	S	2000	$65.25	Disposed	155301404	Direct
2003-08-28	59-Common Stock	S	1000	$65.24	Disposed	155300404	Direct
2003-08-28	60-Common Stock	S	1000	$65.23	Disposed	155299404	Direct