ELI LILLY & Co — Director's Dealing 2004

Aug 9, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-08-06

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-06	1-Common Stock	S	300	$61.20	Disposed	151740504	Direct
2004-08-06	2-Common Stock	S	300	$61.18	Disposed	151740204	Direct
2004-08-06	3-Common Stock	S	600	$61.10	Disposed	151739604	Direct
2004-08-06	4-Common Stock	S	300	$61.08	Disposed	151739304	Direct
2004-08-06	5-Common Stock	S	500	$61.05	Disposed	151738804	Direct
2004-08-06	6-Common Stock	S	500	$61.04	Disposed	151738304	Direct
2004-08-06	7-Common Stock	S	800	$61.03	Disposed	151737504	Direct
2004-08-06	8-Common Stock	S	1500	$61.02	Disposed	151736004	Direct
2004-08-06	9-Common Stock	S	900	$61.01	Disposed	151735104	Direct
2004-08-06	10-Common Stock	S	5800	$61.00	Disposed	151729304	Direct
2004-08-06	11-Common Stock	S	2100	$60.99	Disposed	151727204	Direct
2004-08-06	12-Common Stock	S	900	$60.98	Disposed	151726304	Direct
2004-08-06	13-Common Stock	S	1200	$60.97	Disposed	151725104	Direct
2004-08-06	14-Common Stock	S	2500	$60.96	Disposed	151722604	Direct
2004-08-06	15-Common Stock	S	4200	$60.95	Disposed	151718404	Direct
2004-08-06	16-Common Stock	S	500	$60.94	Disposed	151717904	Direct
2004-08-06	17-Common Stock	S	1400	$60.93	Disposed	151716504	Direct
2004-08-06	18-Common Stock	S	3000	$60.92	Disposed	151713504	Direct
2004-08-06	19-Common Stock	S	1100	$60.91	Disposed	151712404	Direct
2004-08-06	20-Common Stock	S	3700	$60.90	Disposed	151708704	Direct
2004-08-06	21-Common Stock	S	400	$60.89	Disposed	151708304	Direct
2004-08-06	22-Common Stock	S	300	$60.88	Disposed	151708004	Direct
2004-08-06	23-Common Stock	S	500	$60.87	Disposed	151707504	Direct
2004-08-06	24-Common Stock	S	600	$60.86	Disposed	151706904	Direct
2004-08-06	25-Common Stock	S	300	$60.85	Disposed	151706604	Direct
2004-08-06	26-Common Stock	S	800	$60.82	Disposed	151705804	Direct
2004-08-06	27-Common Stock	S	2600	$60.80	Disposed	151703204	Direct
2004-08-06	28-Common Stock	S	300	$60.79	Disposed	151702904	Direct
2004-08-06	29-Common Stock	S	600	$60.78	Disposed	151702304	Direct
2004-08-06	30-Common Stock	S	300	$60.76	Disposed	151702004	Direct