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	1-Common Stock	S	500	$64.07	Disposed	151820304	Direct
2004-08-03	2-Common Stock	S	700	$64.06	Disposed	151819604	Direct
2004-08-03	3-Common Stock	S	400	$64.05	Disposed	151819204	Direct
2004-08-03	4-Common Stock	S	1200	$64.04	Disposed	151818004	Direct
2004-08-03	5-Common Stock	S	600	$64.03	Disposed	151817404	Direct
2004-08-03	6-Common Stock	S	500	$64.02	Disposed	151816904	Direct
2004-08-03	7-Common Stock	S	1500	$64.01	Disposed	151815404	Direct
2004-08-03	8-Common Stock	S	400	$64.00	Disposed	151815004	Direct
2004-08-03	9-Common Stock	S	600	$63.99	Disposed	151814404	Direct
2004-08-03	10-Common Stock	S	1400	$63.98	Disposed	151813004	Direct
2004-08-03	11-Common Stock	S	1700	$63.97	Disposed	151811304	Direct
2004-08-03	12-Common Stock	S	400	$63.96	Disposed	151810904	Direct
2004-08-03	13-Common Stock	S	400	$63.95	Disposed	151810504	Direct
2004-08-03	14-Common Stock	S	400	$63.94	Disposed	151810104	Direct
2004-08-03	15-Common Stock	S	400	$63.93	Disposed	151809704	Direct
2004-08-03	16-Common Stock	S	2300	$63.92	Disposed	151807404	Direct
2004-08-03	17-Common Stock	S	1600	$63.90	Disposed	151805804	Direct
2004-08-03	18-Common Stock	S	400	$63.89	Disposed	151805404	Direct
2004-08-03	19-Common Stock	S	900	$63.87	Disposed	151804504	Direct
2004-08-03	20-Common Stock	S	2100	$63.85	Disposed	151802404	Direct
2004-08-03	21-Common Stock	S	600	$63.83	Disposed	151801804	Direct
2004-08-03	22-Common Stock	S	400	$63.82	Disposed	151801404	Direct
2004-08-03	23-Common Stock	S	1800	$63.81	Disposed	151799604	Direct
2004-08-03	24-Common Stock	S	1500	$63.80	Disposed	151798104	Direct
2004-08-03	25-Common Stock	S	800	$63.79	Disposed	151797304	Direct
2004-08-03	26-Common Stock	S	1700	$63.78	Disposed	151795604	Direct
2004-08-03	27-Common Stock	S	2300	$63.77	Disposed	151793304	Direct
2004-08-03	28-Common Stock	S	1200	$63.76	Disposed	151792104	Direct
2004-08-03	29-Common Stock	S	2000	$63.75	Disposed	151790104	Direct
2004-08-03	30-Common Stock	S	1200	$63.73	Disposed	151788904	Direct