ELI LILLY & Co — Director's Dealing 2004

Aug 20, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-08-19

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-19	61-Common Stock	S	1100	$63.41	Disposed	151266804	Direct
2004-08-19	62-Common Stock	S	1100	$63.39	Disposed	151265704	Direct
2004-08-19	63-Common Stock	S	1100	$63.36	Disposed	151264604	Direct
2004-08-19	64-Common Stock	S	2200	$63.32	Disposed	151262404	Direct
2004-08-19	65-Common Stock	S	1100	$63.30	Disposed	151261304	Direct
2004-08-19	66-Common Stock	S	1100	$63.28	Disposed	151260204	Direct
2004-08-19	67-Common Stock	S	3300	$63.26	Disposed	151256904	Direct
2004-08-19	68-Common Stock	S	1100	$63.22	Disposed	151255804	Direct