ELI LILLY & Co — Director's Dealing 2003

Aug 12, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-11

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-11	1-Common Stock	S	900	$63.24	Disposed	156574904	Direct
2003-08-11	2-Common Stock	S	500	$63.23	Disposed	156574404	Direct
2003-08-11	3-Common Stock	S	500	$63.2	Disposed	156573904	Direct
2003-08-11	4-Common Stock	S	3000	$63.18	Disposed	156570904	Direct
2003-08-11	5-Common Stock	S	100	$63.16	Disposed	156570804	Direct
2003-08-11	6-Common Stock	S	1000	$63.15	Disposed	156569804	Direct
2003-08-11	7-Common Stock	S	500	$63.14	Disposed	156569304	Direct
2003-08-11	8-Common Stock	S	500	$63.13	Disposed	156568804	Direct
2003-08-11	9-Common Stock	S	500	$63.12	Disposed	156568304	Direct
2003-08-11	10-Common Stock	S	1000	$63.11	Disposed	156567304	Direct
2003-08-11	11-Common Stock	S	3000	$63.1	Disposed	156564304	Direct
2003-08-11	12-Common Stock	S	3000	$63.09	Disposed	156561304	Direct
2003-08-11	13-Common Stock	S	2000	$63.08	Disposed	156559304	Direct
2003-08-11	14-Common Stock	S	4500	$63.07	Disposed	156554804	Direct
2003-08-11	15-Common Stock	S	500	$63.06	Disposed	156554304	Direct
2003-08-11	16-Common Stock	S	1300	$63.05	Disposed	156553004	Direct
2003-08-11	17-Common Stock	S	5000	$63.04	Disposed	156548004	Direct
2003-08-11	18-Common Stock	S	2400	$63.03	Disposed	156545604	Direct
2003-08-11	19-Common Stock	S	3200	$63.02	Disposed	156542404	Direct
2003-08-11	20-Common Stock	S	5400	$63.01	Disposed	156537004	Direct
2003-08-11	21-Common Stock	S	4000	$63	Disposed	156553004	Direct
2003-08-11	22-Common Stock	S	9500	$63	Disposed	156523504	Direct
2003-08-11	23-Common Stock	S	6200	$62.99	Disposed	156517304	Direct
2003-08-11	24-Common Stock	S	2500	$62.98	Disposed	156514804	Direct
2003-08-11	25-Common Stock	S	1000	$62.97	Disposed	156513804	Direct
2003-08-11	26-Common Stock	S	1500	$62.96	Disposed	156512304	Direct
2003-08-11	27-Common Stock	S	4000	$62.95	Disposed	156508304	Direct
2003-08-11	28-Common Stock	S	2600	$62.94	Disposed	156505704	Direct
2003-08-11	29-Common Stock	S	1500	$62.93	Disposed	156504204	Direct
2003-08-11	30-Common Stock	S	2000	$62.92	Disposed	156502204	Direct