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	1-Common Stock	S	800	$64.24	Disposed	156120004	Direct
2003-08-21	2-Common Stock	S	1000	$64.23	Disposed	156119004	Direct
2003-08-21	3-Common Stock	S	1800	$64.2	Disposed	156117204	Direct
2003-08-21	4-Common Stock	S	800	$64.16	Disposed	156116404	Direct
2003-08-21	5-Common Stock	S	2000	$64.15	Disposed	156114404	Direct
2003-08-21	6-Common Stock	S	1000	$64.11	Disposed	156113404	Direct
2003-08-21	7-Common Stock	S	2000	$64.1	Disposed	156111404	Direct
2003-08-21	8-Common Stock	S	1000	$64.09	Disposed	156110404	Direct
2003-08-21	9-Common Stock	S	1000	$64.08	Disposed	156109404	Direct
2003-08-21	10-Common Stock	S	1000	$64.07	Disposed	156108404	Direct
2003-08-21	11-Common Stock	S	2700	$64.06	Disposed	156105704	Direct
2003-08-21	12-Common Stock	S	3800	$64.05	Disposed	156101904	Direct
2003-08-21	13-Common Stock	S	1000	$64.04	Disposed	156100904	Direct
2003-08-21	14-Common Stock	S	1000	$64.03	Disposed	156099904	Direct
2003-08-21	15-Common Stock	S	1000	$64.01	Disposed	156098904	Direct
2003-08-21	16-Common Stock	S	2700	$64	Disposed	156096204	Direct
2003-08-21	17-Common Stock	S	1000	$63.98	Disposed	156095204	Direct
2003-08-21	18-Common Stock	S	1000	$63.97	Disposed	156094204	Direct
2003-08-21	19-Common Stock	S	3800	$63.95	Disposed	156090404	Direct
2003-08-21	20-Common Stock	S	1000	$63.94	Disposed	156089404	Direct
2003-08-21	21-Common Stock	S	1800	$63.89	Disposed	156087604	Direct
2003-08-21	22-Common Stock	S	1100	$63.88	Disposed	156086504	Direct
2003-08-21	23-Common Stock	S	1100	$63.85	Disposed	156085404	Direct
2003-08-21	24-Common Stock	S	2800	$63.84	Disposed	156082604	Direct
2003-08-21	25-Common Stock	S	800	$63.83	Disposed	156081804	Direct
2003-08-21	26-Common Stock	S	700	$63.81	Disposed	156081104	Direct
2003-08-21	27-Common Stock	S	3500	$63.8	Disposed	156077604	Direct
2003-08-21	28-Common Stock	S	900	$63.78	Disposed	156076704	Direct
2003-08-21	29-Common Stock	S	1800	$63.77	Disposed	156074904	Direct
2003-08-21	30-Common Stock	S	1000	$63.76	Disposed	156073904	Direct