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	31-Common Stock	S	100	$63.72	Disposed	151788804	Direct
2004-08-03	32-Common Stock	S	800	$63.71	Disposed	151788004	Direct
2004-08-03	33-Common Stock	S	2400	$63.70	Disposed	151785604	Direct
2004-08-03	34-Common Stock	S	1500	$63.69	Disposed	151784104	Direct
2004-08-03	35-Common Stock	S	400	$63.68	Disposed	151783704	Direct
2004-08-03	36-Common Stock	S	900	$63.67	Disposed	151782804	Direct
2004-08-03	37-Common Stock	S	1000	$63.66	Disposed	151781804	Direct
2004-08-03	38-Common Stock	S	600	$63.65	Disposed	151781204	Direct
2004-08-03	39-Common Stock	S	400	$63.63	Disposed	151780804	Direct
2004-08-03	40-Common Stock	S	400	$63.62	Disposed	151780404	Direct
2004-08-03	41-Common Stock	S	2600	$63.61	Disposed	151777804	Direct
2004-08-03	42-Common Stock	S	1500	$63.60	Disposed	151776304	Direct
2004-08-03	43-Common Stock	S	800	$63.59	Disposed	151775504	Direct
2004-08-03	44-Common Stock	S	900	$63.58	Disposed	151774604	Direct
2004-08-03	45-Common Stock	S	2000	$63.56	Disposed	151772604	Direct
2004-08-03	46-Common Stock	S	1200	$63.55	Disposed	151771404	Direct
2004-08-03	47-Common Stock	S	900	$63.54	Disposed	151770504	Direct
2004-08-03	48-Common Stock	S	1300	$63.53	Disposed	151769204	Direct
2004-08-03	49-Common Stock	S	700	$63.52	Disposed	151768504	Direct
2004-08-03	50-Common Stock	S	400	$63.51	Disposed	151768104	Direct
2004-08-03	51-Common Stock	S	500	$63.50	Disposed	151767604	Direct
2004-08-03	52-Common Stock	S	1100	$63.49	Disposed	151766504	Direct
2004-08-03	53-Common Stock	S	2000	$63.48	Disposed	151764504	Direct
2004-08-03	54-Common Stock	S	2100	$63.46	Disposed	151762404	Direct
2004-08-03	55-Common Stock	S	3500	$63.44	Disposed	151758904	Direct
2004-08-03	56-Common Stock	S	2000	$63.43	Disposed	151756904	Direct
2004-08-03	57-Common Stock	S	400	$63.42	Disposed	151756504	Direct
2004-08-03	58-Common Stock	S	800	$63.41	Disposed	151755704	Direct
2004-08-03	59-Common Stock	S	500	$63.38	Disposed	151755204	Direct
2004-08-03	60-Common Stock	S	1200	$63.37	Disposed	151754004	Direct