ELI LILLY & Co — Director's Dealing 2004

Aug 4, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-08-03

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-03	61-Common Stock	S	1200	$63.35	Disposed	151752804	Direct
2004-08-03	62-Common Stock	S	400	$63.34	Disposed	151752404	Direct
2004-08-03	63-Common Stock	S	400	$63.32	Disposed	151752004	Direct
2004-08-03	64-Common Stock	S	400	$63.30	Disposed	151751604	Direct
2004-08-03	65-Common Stock	S	800	$63.26	Disposed	151750804	Direct
2004-08-03	66-Common Stock	S	3800	$63.22	Disposed	151747004	Direct
2004-08-03	67-Common Stock	S	6200	$63.19	Disposed	151740804	Direct