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	1-Common Stock	S	1000.0000	$75.6700	Disposed	152329804.0000	Direct
2004-06-07	2-Common Stock	S	4800.0000	$75.6600	Disposed	152325004.0000	Direct
2004-06-07	3-Common Stock	S	2900.0000	$75.6300	Disposed	152322104.0000	Direct
2004-06-07	4-Common Stock	S	3500.0000	$75.6200	Disposed	152318604.0000	Direct
2004-06-07	5-Common Stock	S	2400.0000	$75.6100	Disposed	152316204.0000	Direct
2004-06-07	6-Common Stock	S	2200.0000	$75.6000	Disposed	152314004.0000	Direct
2004-06-07	7-Common Stock	S	2000.0000	$75.5900	Disposed	152312004.0000	Direct
2004-06-07	8-Common Stock	S	600.0000	$75.5800	Disposed	152311404.0000	Direct
2004-06-07	9-Common Stock	S	1800.0000	$75.5700	Disposed	152309604.0000	Direct
2004-06-07	10-Common Stock	S	3600.0000	$75.5600	Disposed	152306004.0000	Direct
2004-06-07	11-Common Stock	S	4400.0000	$75.5500	Disposed	152301604.0000	Direct
2004-06-07	12-Common Stock	S	1100.0000	$75.5400	Disposed	152300504.0000	Direct
2004-06-07	13-Common Stock	S	1000.0000	$75.5300	Disposed	152299504.0000	Direct
2004-06-07	14-Common Stock	S	1600.0000	$75.5200	Disposed	152297904.0000	Direct
2004-06-07	15-Common Stock	S	1000.0000	$75.5100	Disposed	152296904.0000	Direct
2004-06-07	16-Common Stock	S	2200.0000	$75.5000	Disposed	152294704.0000	Direct
2004-06-07	17-Common Stock	S	1200.0000	$75.4500	Disposed	152293504.0000	Direct
2004-06-07	18-Common Stock	S	2700.0000	$75.4400	Disposed	152290804.0000	Direct
2004-06-07	19-Common Stock	S	800.0000	$75.4100	Disposed	152290004.0000	Direct
2004-06-07	20-Common Stock	S	100.0000	$75.4000	Disposed	152289904.0000	Direct
2004-06-07	21-Common Stock	S	800.0000	$75.3800	Disposed	152289104.0000	Direct
2004-06-07	22-Common Stock	S	800.0000	$75.3600	Disposed	152288304.0000	Direct
2004-06-07	23-Common Stock	S	1000.0000	$75.3500	Disposed	152287304.0000	Direct
2004-06-07	24-Common Stock	S	600.0000	$75.3400	Disposed	152286704.0000	Direct
2004-06-07	25-Common Stock	S	1000.0000	$75.3200	Disposed	152285704.0000	Direct
2004-06-07	26-Common Stock	S	1000.0000	$75.3100	Disposed	152284704.0000	Direct
2004-06-07	27-Common Stock	S	1000.0000	$75.3000	Disposed	152283704.0000	Direct
2004-06-07	28-Common Stock	S	2000.0000	$75.2900	Disposed	152281704.0000	Direct
2004-06-07	29-Common Stock	S	1000.0000	$75.2700	Disposed	152280704.0000	Direct
2004-06-07	30-Common Stock	S	2000.0000	$75.2600	Disposed	152278704.0000	Direct