ELI LILLY & Co — Director's Dealing 2004

Aug 10, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-08-09

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-09	31-Common Stock	S	2800	$60.38	Disposed	151574204	Direct
2004-08-09	32-Common Stock	S	7500	$60.37	Disposed	151566704	Direct
2004-08-09	33-Common Stock	S	2900	$60.36	Disposed	151563804	Direct
2004-08-09	34-Common Stock	S	3000	$60.35	Disposed	151560804	Direct
2004-08-09	35-Common Stock	S	4000	$60.34	Disposed	151556804	Direct
2004-08-09	36-Common Stock	S	1000	$60.32	Disposed	151555804	Direct