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: 2003-08-21

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-21	61-Common Stock	S	1600	$63.28	Disposed	155994004	Direct
2003-08-21	62-Common Stock	S	7200	$63.27	Disposed	155986804	Direct
2003-08-21	63-Common Stock	S	1600	$63.26	Disposed	155985204	Direct
2003-08-21	64-Common Stock	S	800	$63.25	Disposed	155984404	Direct
2003-08-21	65-Common Stock	S	800	$63.24	Disposed	155983604	Direct
2003-08-21	66-Common Stock	S	2400	$63.21	Disposed	155981204	Direct
2003-08-21	67-Common Stock	S	800	$63.18	Disposed	155980404	Direct
2003-08-21	68-Common Stock	S	800	$63.17	Disposed	155979604	Direct
2003-08-21	69-Common Stock	S	600	$63.16	Disposed	155979004	Direct
2003-08-21	70-Common Stock	S	1000	$63.15	Disposed	155978004	Direct
2003-08-21	71-Common Stock	S	800	$63.14	Disposed	155977204	Direct
2003-08-21	72-Common Stock	S	2400	$63.11	Disposed	155974804	Direct
2003-08-21	73-Common Stock	S	800	$63.09	Disposed	155974004	Direct
2003-08-21	74-Common Stock	S	400	$63.08	Disposed	155973604	Direct
2003-08-21	75-Common Stock	S	400	$63.06	Disposed	155973204	Direct
2003-08-21	76-Common Stock	S	800	$63.03	Disposed	155972404	Direct
2003-08-21	77-Common Stock	S	800	$63.02	Disposed	155971604	Direct
2003-08-21	78-Common Stock	S	800	$63	Disposed	155970804	Direct