ELI LILLY & Co — Director's Dealing 2004

Aug 18, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-08-17

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-17	1-Common Stock	S	500	$63.37	Disposed	151465304	Direct
2004-08-17	2-Common Stock	S	600	$63.35	Disposed	151464704	Direct
2004-08-17	3-Common Stock	S	1600	$63.33	Disposed	151463104	Direct
2004-08-17	4-Common Stock	S	400	$63.31	Disposed	151462704	Direct
2004-08-17	5-Common Stock	S	600	$63.29	Disposed	151462104	Direct
2004-08-17	6-Common Stock	S	700	$63.27	Disposed	151461404	Direct
2004-08-17	7-Common Stock	S	600	$63.26	Disposed	151460804	Direct
2004-08-17	8-Common Stock	S	800	$63.25	Disposed	151460004	Direct
2004-08-17	9-Common Stock	S	1000	$63.24	Disposed	151459004	Direct
2004-08-17	10-Common Stock	S	800	$63.23	Disposed	151458204	Direct
2004-08-17	11-Common Stock	S	1500	$63.22	Disposed	151456704	Direct
2004-08-17	12-Common Stock	S	900	$63.21	Disposed	151455804	Direct
2004-08-17	13-Common Stock	S	1200	$63.20	Disposed	151454604	Direct
2004-08-17	14-Common Stock	S	1000	$63.19	Disposed	151453604	Direct
2004-08-17	15-Common Stock	S	1900	$63.18	Disposed	151451704	Direct
2004-08-17	16-Common Stock	S	2100	$63.17	Disposed	151449604	Direct
2004-08-17	17-Common Stock	S	1500	$63.16	Disposed	151448104	Direct
2004-08-17	18-Common Stock	S	3600	$63.15	Disposed	151444504	Direct
2004-08-17	19-Common Stock	S	5900	$63.13	Disposed	151438604	Direct
2004-08-17	20-Common Stock	S	1000	$63.12	Disposed	151437604	Direct
2004-08-17	21-Common Stock	S	1600	$63.10	Disposed	151436004	Direct
2004-08-17	22-Common Stock	S	1400	$63.09	Disposed	151434604	Direct
2004-08-17	23-Common Stock	S	500	$63.08	Disposed	151434104	Direct
2004-08-17	24-Common Stock	S	1700	$63.07	Disposed	151432404	Direct
2004-08-17	25-Common Stock	S	2400	$63.06	Disposed	151430004	Direct
2004-08-17	26-Common Stock	S	1200	$63.05	Disposed	151428804	Direct
2004-08-17	27-Common Stock	S	2000	$63.04	Disposed	151426804	Direct
2004-08-17	28-Common Stock	S	600	$63.03	Disposed	151426204	Direct
2004-08-17	29-Common Stock	S	1400	$63.02	Disposed	151424804	Direct
2004-08-17	30-Common Stock	S	3000	$63.00	Disposed	151421804	Direct