ELI LILLY & Co — Director's Dealing 2004

Jun 4, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-06-03

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-03	61-Common Stock	S	1600.0000	$74.4600	Disposed	152341204.0000	Direct
2004-06-03	62-Common Stock	S	1500.0000	$74.4400	Disposed	152339704.0000	Direct
2004-06-03	63-Common Stock	S	3700.0000	$74.4200	Disposed	152336004.0000	Direct
2004-06-03	64-Common Stock	S	5200.0000	$74.3600	Disposed	152330804.0000	Direct