ELI LILLY & Co — Director's Dealing 2003

Aug 27, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-26

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-26	31-Common Stock	S	800	$64.31	Disposed	155658104	Direct
2003-08-26	32-Common Stock	S	2400	$64.3	Disposed	155655704	Direct
2003-08-26	33-Common Stock	S	1600	$64.29	Disposed	155654104	Direct
2003-08-26	34-Common Stock	S	1600	$64.28	Disposed	155652504	Direct
2003-08-26	35-Common Stock	S	1600	$64.27	Disposed	155650904	Direct
2003-08-26	36-Common Stock	S	800	$64.25	Disposed	155650104	Direct
2003-08-26	37-Common Stock	S	800	$64.24	Disposed	155649304	Direct
2003-08-26	38-Common Stock	S	800	$64.22	Disposed	155648504	Direct
2003-08-26	39-Common Stock	S	800	$64.2	Disposed	155647704	Direct
2003-08-26	40-Common Stock	S	1600	$64.17	Disposed	155646104	Direct
2003-08-26	41-Common Stock	S	2400	$64.15	Disposed	155643704	Direct
2003-08-26	42-Common Stock	S	800	$64.14	Disposed	155642904	Direct
2003-08-26	43-Common Stock	S	800	$64.13	Disposed	155642104	Direct
2003-08-26	44-Common Stock	S	800	$64.12	Disposed	155641304	Direct
2003-08-26	45-Common Stock	S	800	$64.11	Disposed	155640504	Direct
2003-08-26	46-Common Stock	S	2400	$64.1	Disposed	155638104	Direct
2003-08-26	47-Common Stock	S	800	$64.09	Disposed	155637304	Direct
2003-08-26	48-Common Stock	S	3200	$64.06	Disposed	155634104	Direct
2003-08-26	49-Common Stock	S	1000	$64.05	Disposed	155633104	Direct
2003-08-26	50-Common Stock	S	4200	$64.03	Disposed	155628904	Direct
2003-08-26	51-Common Stock	S	800	$64.02	Disposed	155628104	Direct
2003-08-26	52-Common Stock	S	4800	$64	Disposed	155623304	Direct
2003-08-26	53-Common Stock	S	3800	$63.99	Disposed	155619504	Direct
2003-08-26	54-Common Stock	S	800	$63.98	Disposed	155618704	Direct
2003-08-26	55-Common Stock	S	3800	$63.96	Disposed	155614904	Direct
2003-08-26	56-Common Stock	S	2200	$63.95	Disposed	155612704	Direct
2003-08-26	57-Common Stockl	S	1000	$63.94	Disposed	155611704	Direct
2003-08-26	58-Common Stock	S	1100	$63.92	Disposed	155610604	Direct
2003-08-26	59-Common Stock	S	1000	$63.9	Disposed	155609604	Direct
2003-08-26	60-Common Stock	S	4000	$63.89	Disposed	155605604	Direct