ELI LILLY & Co — Director's Dealing 2003

Aug 7, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2003-08-05

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-05	Common Stock	S	1200	$64.55	Disposed	156613404	Direct
2003-08-05	Common Stock	S	700	$64.54	Disposed	156612704	Direct
2003-08-05	Common Stock	S	700	$64.52	Disposed	156612004	Direct
2003-08-05	Common Stock	S	700	$64.49	Disposed	156611304	Direct
2003-08-05	Common Stock	S	700	$64.47	Disposed	156610604	Direct
2003-08-05	Common Stock	S	1100	$64.46	Disposed	156609504	Direct
2003-08-05	Common Stock	S	700	$64.43	Disposed	156608804	Direct
2003-08-05	Common Stock	S	700	$64.39	Disposed	156608104	Direct
2003-08-05	Common Stock	S	700	$64.34	Disposed	156607404	Direct
2003-08-05	Common Stock	S	700	$64.33	Disposed	156606704	Direct
2003-08-05	Common Stock	S	700	$64.28	Disposed	156606004	Direct
2003-08-05	Common Stock	S	700	$64.27	Disposed	156605304	Direct
2003-08-05	Common Stock	S	700	$64.25	Disposed	156604604	Direct
2003-08-05	Common Stock	S	700	$64.24	Disposed	156603904	Direct
2003-08-05	Common Stock	S	4200	$64.21	Disposed	156599704	Direct
2003-08-05	Common Stock	S	800	$64.20	Disposed	156598904	Direct
2003-08-05	Common Stock	S	700	$64.16	Disposed	156598204	Direct
2003-08-05	Common Stock	S	1400	$64.12	Disposed	156596804	Direct
2003-08-05	Common Stock	S	700	$64.04	Disposed	156596104	Direct
2003-08-05	Common Stock	S	700	$64.03	Disposed	156595404	Direct
2003-08-05	Common Stock	S	5000	$63.95	Disposed	156590404	Direct
2003-08-05	Common Stock	S	2600	$63.90	Disposed	156587804	Direct
2003-08-05	Common Stock	S	800	$63.89	Disposed	156587004	Direct
2003-08-05	Common Stock	S	700	$63.84	Disposed	156586304	Direct
2003-08-05	Common Stock	S	4700	$63.81	Disposed	156581604	Direct
2003-08-05	Common Stock	S	800	$63.80	Disposed	156580804	Direct
2003-08-05	Common Stock	S	800	$63.78	Disposed	156580004	Direct
2003-08-05	Common Stock	S	900	$63.77	Disposed	156579104	Direct
2003-08-05	Common Stock	S	2300	$63.76	Disposed	156576804	Direct
2003-08-05	Common Stock	S	1000	$63.75	Disposed	156575804	Direct