ELI LILLY & Co — Director's Dealing 2004

Jun 16, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-06-15

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-15	1-Common Stock	S	600.0000	$73.2900	Disposed	152100204.0000	Direct
2004-06-15	2-Common Stock	S	600.0000	$73.2800	Disposed	152099604.0000	Direct
2004-06-15	3-Common Stock	S	700.0000	$73.2600	Disposed	152098904.0000	Direct
2004-06-15	4-Common Stock	S	600.0000	$73.2500	Disposed	152098304.0000	Direct
2004-06-15	5-Common Stock	S	600.0000	$73.2300	Disposed	152097704.0000	Direct
2004-06-15	6-Common Stock	S	800.0000	$73.2100	Disposed	152096904.0000	Direct
2004-06-15	7-Common Stock	S	900.0000	$73.1800	Disposed	152096004.0000	Direct
2004-06-15	8-Common Stock	S	1400.0000	$73.1600	Disposed	152094604.0000	Direct
2004-06-15	9-Common Stock	S	2400.0000	$73.1500	Disposed	152092204.0000	Direct
2004-06-15	10-Common Stock	S	1200.0000	$73.1400	Disposed	152091004.0000	Direct
2004-06-15	11-Common Stock	S	2600.0000	$73.1300	Disposed	152088404.0000	Direct
2004-06-15	12-Common Stock	S	2500.0000	$73.1200	Disposed	152085904.0000	Direct
2004-06-15	13-Common Stock	S	1600.0000	$73.1000	Disposed	152084304.0000	Direct
2004-06-15	14-Common Stock	S	3400.0000	$73.0900	Disposed	152080904.0000	Direct
2004-06-15	15-Common Stock	S	800.0000	$73.0800	Disposed	152080104.0000	Direct
2004-06-15	16-Common Stock	S	1600.0000	$73.0700	Disposed	152078504.0000	Direct
2004-06-15	17-Common Stock	S	1800.0000	$73.0600	Disposed	152076704.0000	Direct
2004-06-15	18-Common Stock	S	2900.0000	$73.0400	Disposed	152073804.0000	Direct
2004-06-15	19-Common Stock	S	2000.0000	$73.0300	Disposed	152071804.0000	Direct
2004-06-15	20-Common Stock	S	3400.0000	$73.0200	Disposed	152068404.0000	Direct
2004-06-15	21-Common Stock	S	2800.0000	$73.0100	Disposed	152065604.0000	Direct
2004-06-15	22-Common Stock	S	4800.0000	$73.0000	Disposed	152060804.0000	Direct
2004-06-15	23-Common Stock	S	6100.0000	$72.9900	Disposed	152054704.0000	Direct
2004-06-15	24-Common Stock	S	2800.0000	$72.9800	Disposed	152051904.0000	Direct
2004-06-15	25-Common Stock	S	6400.0000	$72.9600	Disposed	152045504.0000	Direct
2004-06-15	26-Common Stock	S	600.0000	$72.9500	Disposed	152044904.0000	Direct
2004-06-15	27-Common Stock	S	600.0000	$72.9400	Disposed	152044304.0000	Direct
2004-06-15	28-Common Stock	S	900.0000	$72.9300	Disposed	152043404.0000	Direct
2004-06-15	29-Common Stock	S	2400.0000	$72.9200	Disposed	152041004.0000	Direct
2004-06-15	30-Common Stock	S	1400.0000	$72.9000	Disposed	152039604.0000	Direct