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	31-Common Stock	S	2300	$62.76	Disposed	155929904	Direct
2003-08-22	32-Common Stock	S	2900	$62.75	Disposed	155927004	Direct
2003-08-22	33-Common Stock	S	1100	$62.74	Disposed	155925904	Direct
2003-08-22	34-Common Stock	S	1200	$62.73	Disposed	155924704	Direct
2003-08-22	35-Common Stock	S	800	$62.72	Disposed	155923904	Direct
2003-08-22	36-Common Stock	S	800	$62.71	Disposed	155923104	Direct
2003-08-22	37-Common Stock	S	2800	$62.7	Disposed	155920304	Direct
2003-08-22	38-Common Stock	S	1100	$62.68	Disposed	155919204	Direct
2003-08-22	39-ommon Stock	S	2700	$62.66	Disposed	155916504	Direct
2003-08-22	40-Common Stock	S	700	$62.65	Disposed	155915804	Direct
2003-08-22	41-Common Stock	S	900	$62.64	Disposed	155914904	Direct
2003-08-22	42-Common Stock	S	1200	$62.62	Disposed	155913704	Direct
2003-08-22	43-Common Stock	S	1000	$62.61	Disposed	155912704	Direct
2003-08-22	44-Common Stock	S	2400	$62.6	Disposed	155910304	Direct
2003-08-22	45-Common Stock	S	600	$62.59	Disposed	155909704	Direct
2003-08-22	46-Common Stock	S	400	$62.58	Disposed	155909304	Direct
2003-08-22	47-Common Stock	S	2900	$62.57	Disposed	155906404	Direct
2003-08-22	48-Common Stock	S	600	$62.56	Disposed	155905804	Direct
2003-08-22	49-Common Stock	S	1000	$62.55	Disposed	155904804	Direct
2003-08-22	50-Common Stock	S	1800	$62.54	Disposed	155903004	Direct
2003-08-22	51-Common Stock	S	300	$62.5	Disposed	155902704	Direct
2003-08-22	52-Common Stock	S	500	$62.49	Disposed	155902204	Direct
2003-08-22	53-Common Stock	S	400	$62.47	Disposed	155901804	Direct
2003-08-22	54-Common Stock	S	1900	$62.45	Disposed	155899904	Direct
2003-08-22	55-Common Stock	S	800	$62.42	Disposed	155899104	Direct
2003-08-22	56-Common Stock	S	1300	$62.41	Disposed	155897804	Direct
2003-08-22	57-Common Stockl	S	1000	$62.35	Disposed	155896804	Direct
2003-08-22	58-Common Stock	S	1000	$62.32	Disposed	155895804	Direct