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	31-Common Stock	S	1100	$63.96	Disposed	151301504	Direct
2004-08-19	32-Common Stock	S	1100	$63.95	Disposed	151300404	Direct
2004-08-19	33-Common Stock	S	2200	$63.93	Disposed	151298204	Direct
2004-08-19	34-Common Stock	S	600	$63.92	Disposed	151297604	Direct
2004-08-19	35-Common Stock	S	600	$63.90	Disposed	151297004	Direct
2004-08-19	36-Common Stock	S	600	$63.89	Disposed	151296404	Direct
2004-08-19	37-Common Stock	S	600	$63.86	Disposed	151295804	Direct
2004-08-19	38-Common Stock	S	1400	$63.85	Disposed	151294404	Direct
2004-08-19	39-Common Stock	S	800	$63.84	Disposed	151293604	Direct
2004-08-19	40-Common Stock	S	1700	$63.83	Disposed	151291904	Direct
2004-08-19	41-Common Stock	S	1000	$63.81	Disposed	151290904	Direct
2004-08-19	42-Common Stock	S	1100	$63.80	Disposed	151289804	Direct
2004-08-19	43-Common Stock	S	1000	$63.79	Disposed	151288804	Direct
2004-08-19	44-Common Stock	S	600	$63.78	Disposed	151288204	Direct
2004-08-19	45-Common Stock	S	1100	$63.76	Disposed	151287104	Direct
2004-08-19	46-Common Stock	S	1700	$63.74	Disposed	151285404	Direct
2004-08-19	47-Common Stock	S	1100	$63.72	Disposed	151284304	Direct
2004-08-19	48-Common Stock	S	1100	$63.71	Disposed	151283204	Direct
2004-08-19	49-Common Stock	S	2800	$63.70	Disposed	151280404	Direct
2004-08-19	50-Common Stock	S	900	$63.69	Disposed	151279504	Direct
2004-08-19	51-Common Stock	S	1100	$63.68	Disposed	151278404	Direct
2004-08-19	52-Common Stock	S	1700	$63.65	Disposed	151276704	Direct
2004-08-19	53-Common Stock	S	1100	$63.64	Disposed	151275604	Direct
2004-08-19	54-Common Stock	S	800	$63.61	Disposed	151274804	Direct
2004-08-19	55-Common Stock	S	1600	$63.60	Disposed	151273204	Direct
2004-08-19	56-Common Stock	S	1100	$63.57	Disposed	151272104	Direct
2004-08-19	57-Common Stock	S	800	$63.53	Disposed	151271304	Direct
2004-08-19	58-Common Stock	S	100	$63.50	Disposed	151271204	Direct
2004-08-19	59-Common Stock	S	1100	$63.49	Disposed	151270104	Direct
2004-08-19	60-Common Stock	S	2200	$63.45	Disposed	151267904	Direct