ELI LILLY & Co — Director's Dealing 2003

Aug 19, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-18

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-18	1-Common Stock	S	600	$61.91	Disposed	156295204	Direct
2003-08-18	2-Common Stock	S	600	$61.9	Disposed	156294604	Direct
2003-08-18	3-Common Stock	S	600	$61.89	Disposed	156294004	Direct
2003-08-18	4-Common Stock	S	600	$61.87	Disposed	156293404	Direct
2003-08-18	5-Common Stock	S	600	$61.86	Disposed	156292804	Direct
2003-08-18	6-Common Stock	S	1200	$61.85	Disposed	156291604	Direct
2003-08-18	7-Common Stock	S	600	$61.84	Disposed	156291004	Direct
2003-08-18	8-Common Stock	S	600	$61.83	Disposed	156290404	Direct
2003-08-18	9-Common Stock	S	1100	$61.82	Disposed	156289304	Direct
2003-08-18	10-Common Stock	S	1000	$61.81	Disposed	156288304	Direct
2003-08-18	11-Common Stock	S	1200	$61.8	Disposed	156287104	Direct
2003-08-18	12-Common Stock	S	4900	$61.79	Disposed	156282204	Direct
2003-08-18	13-Common Stock	S	3000	$61.78	Disposed	156279204	Direct
2003-08-18	14-Common Stock	S	3400	$61.77	Disposed	156275804	Direct
2003-08-18	15-Common Stock	S	4800	$61.76	Disposed	156271004	Direct
2003-08-18	16-Common Stock	S	7300	$61.75	Disposed	156263704	Direct
2003-08-18	17-Common Stock	S	6000	$61.74	Disposed	156257704	Direct
2003-08-18	18-Common Stock	S	9500	$61.73	Disposed	156248204	Direct
2003-08-18	19-Common Stock	S	2100	$61.72	Disposed	156246104	Direct
2003-08-18	20-Common Stock	S	4900	$61.7	Disposed	156241204	Direct
2003-08-18	21-Common Stock	S	1800	$61.69	Disposed	156239404	Direct
2003-08-18	22-Common Stock	S	6100	$61.68	Disposed	156233304	Direct
2003-08-18	23-Common Stock	S	2500	$61.67	Disposed	156230804	Direct
2003-08-18	24-Common Stock	S	4400	$61.66	Disposed	156226404	Direct
2003-08-18	25-Common Stock	S	2000	$61.65	Disposed	156224404	Direct
2003-08-18	26-Common Stock	S	1900	$61.64	Disposed	156222504	Direct
2003-08-18	27-Common Stock	S	2400	$61.63	Disposed	156220104	Direct
2003-08-18	28-Common Stock	S	1200	$61.61	Disposed	156218904	Direct
2003-08-18	29-Common Stock	S	1900	$61.6	Disposed	156217004	Direct
2003-08-18	30-Common Stock	S	800	$61.59	Disposed	156216204	Direct