ELI LILLY & Co — Director's Dealing 2004

Jun 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2004-06-01

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-01	31-Common Stock	S	6300.0000	$74.3200	Disposed	152565704.0000	Direct
2004-06-01	32-Common Stock	S	3300.0000	$74.3100	Disposed	152562404.0000	Direct
2004-06-01	33-Common Stock	S	5500.0000	$74.3000	Disposed	152556904.0000	Direct
2004-06-01	34-Common Stock	S	9600.0000	$74.2900	Disposed	152547304.0000	Direct
2004-06-01	35-Common Stock	S	13100.0000	$74.2800	Disposed	152534204.0000	Direct
2004-06-01	36-Common Stock	S	5500.0000	$74.2700	Disposed	152528704.0000	Direct
2004-06-01	37-Common Stock	S	5500.0000	$74.2600	Disposed	152523204.0000	Direct
2004-06-01	38-Common Stock	S	9600.0000	$74.2500	Disposed	152513604.0000	Direct
2004-06-01	39-Common Stock	S	2300.0000	$74.2400	Disposed	152511304.0000	Direct
2004-06-01	40-Common Stock	S	3500.0000	$74.2300	Disposed	152507804.0000	Direct
2004-06-01	41-Common Stock	S	6300.0000	$74.2200	Disposed	152501504.0000	Direct
2004-06-01	42-Common Stock	S	1100.0000	$74.2100	Disposed	152500404.0000	Direct
2004-06-01	43-Common Stock	S	8200.0000	$74.2000	Disposed	152492204.0000	Direct
2004-06-01	44-Common Stock	S	3000.0000	$74.1900	Disposed	152489204.0000	Direct
2004-06-01	45-Common Stock	S	3300.0000	$74.1700	Disposed	152485904.0000	Direct
2004-06-01	46-Common Stock	S	5500.0000	$74.1600	Disposed	152480404.0000	Direct
2004-06-01	47-Common Stock	S	2200.0000	$74.1500	Disposed	152478204.0000	Direct
2004-06-01	48-Common Stock	S	1900.0000	$74.1400	Disposed	152476304.0000	Direct
2004-06-01	49-Common Stock	S	1100.0000	$74.1300	Disposed	152475204.0000	Direct
2004-06-01	50-Common Stock	S	2200.0000	$74.0900	Disposed	152473004.0000	Direct
2004-06-01	51-Common Stock	S	2200.0000	$74.0800	Disposed	152470804.0000	Direct