ELI LILLY & Co — Director's Dealing 2003

Aug 20, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-19

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-19	1-Common Stock	S	600	$61.4	Disposed	156195204	Direct
2003-08-19	2-Common Stock	S	900	$61.38	Disposed	156194304	Direct
2003-08-19	3-Common Stock	S	800	$61.37	Disposed	156193504	Direct
2003-08-19	4-Common Stock	S	2500	$61.35	Disposed	156191004	Direct
2003-08-19	5-Common Stock	S	1500	$61.34	Disposed	156189504	Direct
2003-08-19	6-Common Stock	S	1000	$61.33	Disposed	156188504	Direct
2003-08-19	7-Common Stock	S	3200	$61.32	Disposed	156185304	Direct
2003-08-19	8-Common Stock	S	1100	$61.31	Disposed	156184204	Direct
2003-08-19	9-Common Stock	S	5600	$61.3	Disposed	156178604	Direct
2003-08-19	10-Common Stock	S	2600	$61.29	Disposed	156176004	Direct
2003-08-19	11-Common Stock	S	3900	$61.28	Disposed	156172104	Direct
2003-08-19	12-Common Stock	S	1400	$61.27	Disposed	156170704	Direct
2003-08-19	13-Common Stock	S	1600	$61.26	Disposed	156169104	Direct
2003-08-19	14-Common Stock	S	6900	$61.25	Disposed	156162204	Direct
2003-08-19	15-Common Stock	S	2300	$61.24	Disposed	156159904	Direct
2003-08-19	16-Common Stock	S	2500	$61.23	Disposed	156157404	Direct
2003-08-19	17-Common Stock	S	1400	$61.22	Disposed	156156004	Direct
2003-08-19	18-Common Stock	S	4100	$61.21	Disposed	156151904	Direct
2003-08-19	19-Common Stock	S	4000	$61.2	Disposed	156147904	Direct
2003-08-19	20-Common Stock	S	2400	$61.19	Disposed	156145504	Direct
2003-08-19	21-Common Stock	S	4000	$61.18	Disposed	156141504	Direct
2003-08-19	22-Common Stock	S	1400	$61.17	Disposed	156140104	Direct
2003-08-19	23-Common Stock	S	1200	$61.16	Disposed	156138904	Direct
2003-08-19	24-Common Stock	S	4500	$61.15	Disposed	156134404	Direct
2003-08-19	25-Common Stock	S	2300	$61.14	Disposed	156132104	Direct
2003-08-19	26-Common Stock	S	1200	$61.13	Disposed	156130904	Direct
2003-08-19	27-Common Stock	S	1400	$61.12	Disposed	156129504	Direct
2003-08-19	28-Common Stock	S	2700	$61.11	Disposed	156126804	Direct
2003-08-19	29-Common Stock	S	1000	$61.1	Disposed	156125804	Direct
2003-08-19	30-Common Stock	S	700	$61.09	Disposed	156125104	Direct