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	4300	$64.90	Disposed	156652704	Direct
2003-08-05	Common Stock	S	700	$64.88	Disposed	156652004	Direct
2003-08-05	Common Stock	S	700	$64.87	Disposed	156651304	Direct
2003-08-05	Common Stock	S	1500	$64.86	Disposed	156649804	Direct
2003-08-05	Common Stock	S	1500	$64.85	Disposed	156648304	Direct
2003-08-05	Common Stock	S	700	$64.84	Disposed	156647604	Direct
2003-08-05	Common Stock	S	900	$64.83	Disposed	156646704	Direct
2003-08-05	Common Stock	S	100	$64.82	Disposed	156646604	Direct
2003-08-05	Common Stock	S	2100	$64.81	Disposed	156644504	Direct
2003-08-05	Common Stock	S	700	$64.80	Disposed	156643804	Direct
2003-08-05	Common Stock	S	1400	$64.79	Disposed	156642404	Direct
2003-08-05	Common Stock	S	1400	$64.78	Disposed	156641004	Direct
2003-08-05	Common Stock	S	700	$64.77	Disposed	156640304	Direct
2003-08-05	Common Stock	S	900	$64.76	Disposed	156639404	Direct
2003-08-05	Common Stock	S	2100	$64.75	Disposed	156637304	Direct
2003-08-05	Common Stock	S	700	$64.74	Disposed	156636604	Direct
2003-08-05	Common Stock	S	700	$64.73	Disposed	156635904	Direct
2003-08-05	Common Stock	S	700	$64.72	Disposed	156635204	Direct
2003-08-05	Common Stock	S	2100	$64.70	Disposed	156633104	Direct
2003-08-05	Common Stock	S	700	$64.68	Disposed	156632404	Direct
2003-08-05	Common Stock	S	700	$64.67	Disposed	156631704	Direct
2003-08-05	Common Stock	S	5100	$64.66	Disposed	156626604	Direct
2003-08-05	Common Stock	S	1500	$64.65	Disposed	156625104	Direct
2003-08-05	Common Stock	S	700	$64.64	Disposed	156624404	Direct
2003-08-05	Common Stock	S	700	$64.63	Disposed	156623704	Direct
2003-08-05	Common Stock	S	2300	$64.62	Disposed	156621404	Direct
2003-08-05	Common Stock	S	3800	$64.61	Disposed	156617604	Direct
2003-08-05	Common Stock	S	1100	$64.60	Disposed	156616504	Direct
2003-08-05	Common Stock	S	700	$64.58	Disposed	156615804	Direct
2003-08-05	Common Stock	S	1200	$64.57	Disposed	156614604	Direct