ELI LILLY & Co — Director's Dealing 2003

Aug 22, 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)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-21	31-Common Stock	S	3800	$63.75	Disposed	156070104	Direct
2003-08-21	32-Common Stock	S	1000	$63.74	Disposed	156069104	Direct
2003-08-21	33-Common Stock	S	1000	$63.73	Disposed	156068104	Direct
2003-08-21	34-Common Stock	S	1000	$63.72	Disposed	156067104	Direct
2003-08-21	35-Common Stock	S	2400	$63.7	Disposed	156064704	Direct
2003-08-21	36-Common Stock	S	1400	$63.69	Disposed	156063304	Direct
2003-08-21	37-Common Stock	S	1600	$63.67	Disposed	156061704	Direct
2003-08-21	38-Common Stock	S	2000	$63.66	Disposed	156059704	Direct
2003-08-21	39-Common Stock	S	4400	$63.64	Disposed	156055304	Direct
2003-08-21	40-Common Stock	S	1800	$63.61	Disposed	156053504	Direct
2003-08-21	41-Common Stock	S	800	$63.6	Disposed	156052704	Direct
2003-08-21	42-Common Stock	S	10400	$63.56	Disposed	156042304	Direct
2003-08-21	43-Common Stock	S	800	$63.55	Disposed	156041504	Direct
2003-08-21	44-Common Stock	S	1200	$63.53	Disposed	156040304	Direct
2003-08-21	45-Common Stock	S	200	$63.52	Disposed	156040104	Direct
2003-08-21	46-Common Stock	S	1100	$63.51	Disposed	156039004	Direct
2003-08-21	47-Common Stock	S	1600	$63.5	Disposed	156037404	Direct
2003-08-21	48-Common Stock	S	1200	$63.48	Disposed	156036204	Direct
2003-08-21	49-Common Stock	S	800	$63.45	Disposed	156035404	Direct
2003-08-21	50-Common Stock	S	1600	$63.42	Disposed	156033804	Direct
2003-08-21	51-Common Stock	S	1200	$63.41	Disposed	156032604	Direct
2003-08-21	52-Common Stock	S	800	$63.4	Disposed	156031804	Direct
2003-08-21	53-Common Stock	S	2400	$63.38	Disposed	156029404	Direct
2003-08-21	54-Common Stock	S	6400	$63.35	Disposed	156023004	Direct
2003-08-21	55-Common Stock	S	3200	$63.34	Disposed	156019804	Direct
2003-08-21	56-Common Stock	S	5700	$63.33	Disposed	156014104	Direct
2003-08-21	57-Common Stock	S	9300	$63.32	Disposed	156004804	Direct
2003-08-21	58-Common Stock	S	2000	$63.31	Disposed	156002804	Direct
2003-08-21	59-Common Stock	S	6400	$63.3	Disposed	155996404	Direct
2003-08-21	60-Common Stock	S	800	$63.29	Disposed	155995604	Direct