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	1-Common Stock	S	500.0000	$74.0300	Disposed	152190304.0000	Direct
2004-06-14	2-Common Stock	S	900.0000	$74.0000	Disposed	152189404.0000	Direct
2004-06-14	3-Common Stock	S	1000.0000	$73.9600	Disposed	152188404.0000	Direct
2004-06-14	4-Common Stock	S	1000.0000	$73.9400	Disposed	152187404.0000	Direct
2004-06-14	5-Common Stock	S	900.0000	$73.9200	Disposed	152186504.0000	Direct
2004-06-14	6-Common Stock	S	1000.0000	$73.9100	Disposed	152185504.0000	Direct
2004-06-14	7-Common Stock	S	1000.0000	$73.9000	Disposed	152184504.0000	Direct
2004-06-14	8-Common Stock	S	400.0000	$73.8900	Disposed	152184104.0000	Direct
2004-06-14	9-Common Stock	S	1400.0000	$73.8800	Disposed	152182704.0000	Direct
2004-06-14	10-Common Stock	S	1600.0000	$73.8700	Disposed	152181104.0000	Direct
2004-06-14	11-Common Stock	S	1700.0000	$73.8500	Disposed	152179404.0000	Direct
2004-06-14	12-Common Stock	S	800.0000	$73.8400	Disposed	152178604.0000	Direct
2004-06-14	13-Common Stock	S	1000.0000	$73.8300	Disposed	152177604.0000	Direct
2004-06-14	14-Common Stock	S	2000.0000	$73.8000	Disposed	152175604.0000	Direct
2004-06-14	15-Common Stock	S	1400.0000	$73.7400	Disposed	152174204.0000	Direct
2004-06-14	16-Common Stock	S	800.0000	$73.7100	Disposed	152173404.0000	Direct
2004-06-14	17-Common Stock	S	2500.0000	$73.6800	Disposed	152170904.0000	Direct
2004-06-14	18-Common Stock	S	1000.0000	$73.6700	Disposed	152169904.0000	Direct
2004-06-14	19-Common Stock	S	700.0000	$73.6500	Disposed	152169204.0000	Direct
2004-06-14	20-Common Stock	S	1600.0000	$73.6400	Disposed	152167604.0000	Direct
2004-06-14	21-Common Stock	S	700.0000	$73.6100	Disposed	152166904.0000	Direct
2004-06-14	22-Common Stock	S	500.0000	$73.6000	Disposed	152166404.0000	Direct
2004-06-14	23-Common Stock	S	500.0000	$73.5900	Disposed	152165904.0000	Direct
2004-06-14	24-Common Stock	S	2500.0000	$73.5800	Disposed	152163404.0000	Direct
2004-06-14	25-Common Stock	S	2300.0000	$73.5700	Disposed	152161104.0000	Direct
2004-06-14	26-Common Stock	S	800.0000	$73.5600	Disposed	152160304.0000	Direct
2004-06-14	27-Common Stock	S	500.0000	$73.5500	Disposed	152159804.0000	Direct
2004-06-14	28-Common Stock	S	800.0000	$73.5400	Disposed	152159004.0000	Direct
2004-06-14	29-Common Stock	S	1000.0000	$73.5200	Disposed	152158004.0000	Direct
2004-06-14	30-Common Stock	S	1000.0000	$73.5100	Disposed	152157004.0000	Direct