ELI LILLY & Co — Director's Dealing 2003

Aug 26, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-25

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-25	31-Common Stock	S	1800	$63.32	Disposed	155742904	Direct
2003-08-25	32-Common Stock	S	2900	$63.31	Disposed	155740004	Direct
2003-08-25	33-Common Stock	S	1100	$63.29	Disposed	155738904	Direct
2003-08-25	34-Common Stock	S	4900	$63.28	Disposed	155734004	Direct
2003-08-25	35-Common Stock	S	1500	$63.27	Disposed	155732504	Direct
2003-08-25	36-Common Stock	S	1000	$63.21	Disposed	155731504	Direct
2003-08-25	37-Common Stock	S	700	$63.15	Disposed	155730804	Direct