ELI LILLY & Co — Director's Dealing 2003

Aug 25, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-22

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-22	1-Common Stock	S	400	$63.1	Disposed	155970404	Direct
2003-08-22	2-Common Stock	S	800	$63.07	Disposed	155969604	Direct
2003-08-22	3-Common Stock	S	400	$63.06	Disposed	155969204	Direct
2003-08-22	4-Common Stock	S	1200	$63.05	Disposed	155968004	Direct
2003-08-22	5-Common Stock	S	1200	$63.04	Disposed	155966804	Direct
2003-08-22	6-Common Stock	S	400	$63.03	Disposed	155966404	Direct
2003-08-22	7-Common Stock	S	400	$63.02	Disposed	155966004	Direct
2003-08-22	8-Common Stock	S	400	$63.01	Disposed	155965604	Direct
2003-08-22	9-Common Stock	S	800	$63	Disposed	155964804	Direct
2003-08-22	10-Common Stock	S	400	$62.99	Disposed	155964404	Direct
2003-08-22	11-Common Stock	S	800	$62.96	Disposed	155963604	Direct
2003-08-22	12-Common Stock	S	900	$62.95	Disposed	155962704	Direct
2003-08-22	13-Common Stock	S	400	$62.94	Disposed	155962304	Direct
2003-08-22	14-Common Stock	S	1100	$62.93	Disposed	155961204	Direct
2003-08-22	15-Common Stock	S	1200	$62.92	Disposed	155960004	Direct
2003-08-22	16-Common Stock	S	1700	$62.91	Disposed	155958304	Direct
2003-08-22	17-Common Stock	S	1100	$62.9	Disposed	155957204	Direct
2003-08-22	18-Common Stock	S	100	$62.89	Disposed	155957104	Direct
2003-08-22	19-Common Stock	S	1600	$62.88	Disposed	155955504	Direct
2003-08-22	20-Common Stock	S	3400	$62.87	Disposed	155952104	Direct
2003-08-22	21-Common Stock	S	800	$62.86	Disposed	155951304	Direct
2003-08-22	22-Common Stock	S	1200	$62.85	Disposed	155950104	Direct
2003-08-22	23-Common Stock	S	1400	$62.84	Disposed	155948704	Direct
2003-08-22	24-Common Stock	S	800	$62.83	Disposed	155947904	Direct
2003-08-22	25-Common Stock	S	1200	$62.82	Disposed	155946704	Direct
2003-08-22	26-Common Stock	S	3000	$62.81	Disposed	155943704	Direct
2003-08-22	27-Common Stock	S	3500	$62.8	Disposed	155940204	Direct
2003-08-22	28-Common Stock	S	2100	$62.79	Disposed	155938104	Direct
2003-08-22	29-Common Stock	S	3700	$62.78	Disposed	155934404	Direct
2003-08-22	30-Common Stock	S	2200	$62.77	Disposed	155932204	Direct