ELI LILLY & Co — Director's Dealing 2004

Jun 8, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-06-07

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-07	31-Common Stock	S	2000.0000	$75.2500	Disposed	152276704.0000	Direct
2004-06-07	32-Common Stock	S	1800.0000	$75.2400	Disposed	152274904.0000	Direct
2004-06-07	33-Common Stock	S	2000.0000	$75.2300	Disposed	152272904.0000	Direct
2004-06-07	34-Common Stock	S	3000.0000	$75.2200	Disposed	152269904.0000	Direct
2004-06-07	35-Common Stock	S	800.0000	$75.2100	Disposed	152269104.0000	Direct
2004-06-07	36-Common Stock	S	5000.0000	$75.2000	Disposed	152264104.0000	Direct
2004-06-07	37-Common Stock	S	3800.0000	$75.1900	Disposed	152260304.0000	Direct
2004-06-07	38-Common Stock	S	500.0000	$75.1800	Disposed	152259804.0000	Direct
2004-06-07	39-Common Stock	S	3000.0000	$75.1700	Disposed	152256804.0000	Direct
2004-06-07	40-Common Stock	S	6800.0000	$75.1600	Disposed	152250004.0000	Direct
2004-06-07	41-Common Stock	S	4000.0000	$75.1500	Disposed	152246004.0000	Direct
2004-06-07	42-Common Stock	S	2800.0000	$75.1400	Disposed	152243204.0000	Direct
2004-06-07	43-Common Stock	S	1000.0000	$75.1300	Disposed	152242204.0000	Direct
2004-06-07	44-Common Stock	S	2000.0000	$75.1200	Disposed	152240204.0000	Direct
2004-06-07	45-Common Stock	S	2600.0000	$75.1000	Disposed	152237604.0000	Direct
2004-06-07	46-Common Stock	S	4800.0000	$75.0900	Disposed	152232804.0000	Direct
2004-06-07	47-Common Stock	S	3800.0000	$75.0800	Disposed	152229004.0000	Direct
2004-06-07	48-Common Stock	S	1800.0000	$75.0700	Disposed	152227204.0000	Direct
2004-06-07	49-Common Stock	S	1000.0000	$75.0400	Disposed	152226204.0000	Direct
2004-06-07	50-Common Stock	S	1000.0000	$75.0300	Disposed	152225204.0000	Direct
2004-06-07	51-Common Stock	S	2000.0000	$75.0200	Disposed	152223204.0000	Direct
2004-06-07	52-Common Stock	S	2000.0000	$75.0100	Disposed	152221204.0000	Direct
2004-06-07	53-Common Stock	S	400.0000	$75.0000	Disposed	152220804.0000	Direct
2004-06-07	54-Common Stock	S	5600.0000	$74.9800	Disposed	152215204.0000	Direct
2004-06-07	55-Common Stock	S	2000.0000	$74.9700	Disposed	152213204.0000	Direct
2004-06-07	56-Common Stock	S	1400.0000	$74.9600	Disposed	152211804.0000	Direct
2004-06-07	57-Common Stock	S	2600.0000	$74.9500	Disposed	152209204.0000	Direct
2004-06-07	58-Common Stock	S	6400.0000	$74.9400	Disposed	152202804.0000	Direct
2004-06-07	59-Common Stock	S	1000.0000	$74.9300	Disposed	152201804.0000	Direct
2004-06-07	60-Common Stock	S	3000.0000	$74.9100	Disposed	152198804.0000	Direct