ELI LILLY & Co — Director's Dealing 2003

Aug 13, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-12

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-12	1-Common Stock	S	1000	$63.22	Disposed	156474804	Direct
2003-08-12	2-Common Stock	S	2000	$63.19	Disposed	156472804	Direct
2003-08-12	3-Common Stock	S	700	$63.17	Disposed	156472104	Direct
2003-08-12	4-Common Stock	S	1300	$63.15	Disposed	156470804	Direct
2003-08-12	5-Common Stock	S	1400	$63.14	Disposed	156469404	Direct
2003-08-12	6-Common Stock	S	3000	$63.12	Disposed	156466404	Direct
2003-08-12	7-Common Stock	S	800	$63.11	Disposed	156465604	Direct
2003-08-12	8-Common Stock	S	700	$63.1	Disposed	156464904	Direct
2003-08-12	9-Common Stock	S	1700	$63.09	Disposed	156463204	Direct
2003-08-12	10-Common Stock	S	1800	$63.08	Disposed	156461404	Direct
2003-08-12	11-Common Stock	S	2500	$63.07	Disposed	156458904	Direct
2003-08-12	12-Common Stock	S	1600	$63.06	Disposed	156457304	Direct
2003-08-12	13-Common Stock	S	700	$63.05	Disposed	156456604	Direct
2003-08-12	14-Common Stock	S	1900	$63.04	Disposed	156454704	Direct
2003-08-12	15-Common Stock	S	1900	$63.03	Disposed	156452804	Direct
2003-08-12	16-Common Stock	S	2700	$63.02	Disposed	156450104	Direct
2003-08-12	17-Common Stock	S	1400	$63.01	Disposed	156448704	Direct
2003-08-12	18-Common Stock	S	600	$63	Disposed	156448104	Direct
2003-08-12	19-Common Stock	S	4000	$62.99	Disposed	156444104	Direct
2003-08-12	20-Common Stock	S	700	$62.97	Disposed	156443404	Direct
2003-08-12	21-Common Stock	S	2000	$62.96	Disposed	156441404	Direct
2003-08-12	22-Common Stock	S	1800	$62.95	Disposed	156439604	Direct
2003-08-12	23-Common Stock	S	1200	$62.94	Disposed	156438404	Direct
2003-08-12	24-Common Stock	S	1800	$62.93	Disposed	156436604	Direct
2003-08-12	25-Common Stock	S	1900	$62.92	Disposed	156434704	Direct
2003-08-12	26-Common Stock	S	1200	$62.91	Disposed	156433504	Direct
2003-08-12	27-Common Stock	S	3500	$62.9	Disposed	156430004	Direct
2003-08-12	28-Common Stock	S	3700	$62.89	Disposed	156426304	Direct
2003-08-12	29-Common Stock	S	6600	$62.88	Disposed	156419704	Direct
2003-08-12	30-Common Stock	S	2400	$62.87	Disposed	156417304	Direct