ELI LILLY & Co - Director's Dealing 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-27

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-27	31-Common Stock	S	1100	$65.15	Disposed	155488004	Direct
2003-08-27	32-Common Stock	S	1300	$65.14	Disposed	155486704	Direct
2003-08-27	33-Common Stock	S	500	$65.13	Disposed	155486204	Direct
2003-08-27	34-Common Stock	S	100	$65.12	Disposed	155486104	Direct
2003-08-27	35-Common Stock	S	3000	$65.11	Disposed	155483104	Direct
2003-08-27	36-Common Stock	S	1000	$65.09	Disposed	155482104	Direct
2003-08-27	37-Common Stock	S	900	$65.08	Disposed	155481204	Direct
2003-08-27	38-Common Stock	S	800	$65.07	Disposed	155480404	Direct
2003-08-27	39-Common Stock	S	3900	$65.06	Disposed	155476504	Direct
2003-08-27	40-Common Stock	S	1300	$65.04	Disposed	155475204	Direct
2003-08-27	41-Common Stock	S	1900	$65.03	Disposed	155473304	Direct
2003-08-27	42-Common Stock	S	1000	$65.01	Disposed	155472304	Direct
2003-08-27	43-Common Stock	S	5000	$65	Disposed	155467304	Direct
2003-08-27	44-Common Stock	S	1800	$64.98	Disposed	155465504	Direct
2003-08-27	45-Common Stock	S	1000	$64.96	Disposed	155464504	Direct
2003-08-27	46-Common Stock	S	2800	$64.93	Disposed	155461704	Direct
2003-08-27	47-Common Stock	S	10500	$64.9	Disposed	155451204	Direct
2003-08-27	48-Common Stock	S	400	$64.85	Disposed	155450804	Direct