ELI LILLY & Co — Director's Dealing 2004

Jun 15, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-06-14

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-14	31-Common Stock	S	1000.0000	$73.4900	Disposed	152156004.0000	Direct
2004-06-14	32-Common Stock	S	2100.0000	$73.4800	Disposed	152153904.0000	Direct
2004-06-14	33-Common Stock	S	800.0000	$73.4700	Disposed	152153104.0000	Direct
2004-06-14	34-Common Stock	S	1000.0000	$73.4600	Disposed	152152104.0000	Direct
2004-06-14	35-Common Stock	S	3400.0000	$73.4500	Disposed	152148704.0000	Direct
2004-06-14	36-Common Stock	S	800.0000	$73.4400	Disposed	152147904.0000	Direct
2004-06-14	37-Common Stock	S	2600.0000	$73.4300	Disposed	152145304.0000	Direct
2004-06-14	38-Common Stock	S	100.0000	$73.4200	Disposed	152145204.0000	Direct
2004-06-14	39-Common Stock	S	1200.0000	$73.4100	Disposed	152144004.0000	Direct
2004-06-14	40-Common Stock	S	1600.0000	$73.3700	Disposed	152142404.0000	Direct
2004-06-14	41-Common Stock	S	1300.0000	$73.3600	Disposed	152141104.0000	Direct
2004-06-14	42-Common Stock	S	800.0000	$73.3400	Disposed	152140304.0000	Direct
2004-06-14	43-Common Stock	S	700.0000	$73.3100	Disposed	152139604.0000	Direct
2004-06-14	44-Common Stock	S	1600.0000	$73.3000	Disposed	152138004.0000	Direct
2004-06-14	45-Common Stock	S	800.0000	$73.2800	Disposed	152137204.0000	Direct
2004-06-14	46-Common Stock	S	1700.0000	$73.2600	Disposed	152135504.0000	Direct
2004-06-14	47-Common Stock	S	1600.0000	$73.2300	Disposed	152133904.0000	Direct
2004-06-14	48-Common Stock	S	100.0000	$73.1700	Disposed	152133804.0000	Direct
2004-06-14	49-Common Stock	S	900.0000	$73.1400	Disposed	152132904.0000	Direct
2004-06-14	50-Common Stock	S	900.0000	$72.9600	Disposed	152132004.0000	Direct
2004-06-14	51-Common Stock	S	400.0000	$72.9500	Disposed	152131604.0000	Direct
2004-06-14	52-Common Stock	S	800.0000	$72.9300	Disposed	152130804.0000	Direct
2004-06-14	53-Common Stock	S	900.0000	$72.9000	Disposed	152129904.0000	Direct
2004-06-14	54-Common Stock	S	800.0000	$72.8500	Disposed	152129104.0000	Direct
2004-06-14	55-Common Stock	S	1900.0000	$72.8300	Disposed	152127204.0000	Direct
2004-06-14	56-Common Stock	S	900.0000	$72.7900	Disposed	152126304.0000	Direct
2004-06-14	57-Common Stock	S	1000.0000	$72.7200	Disposed	152125304.0000	Direct
2004-06-14	58-Common Stock	S	4600.0000	$72.7000	Disposed	152120704.0000	Direct
2004-06-14	59-Common Stock	S	1800.0000	$72.6900	Disposed	152118904.0000	Direct
2004-06-14	60-Common Stock	S	600.0000	$72.6800	Disposed	152118304.0000	Direct