Date: January 7, 2004                                                          

For Release: Immediately

Refer to: (317) 276-5795 - Terra L. Fox

   Lilly Sets Date and Conference Call for Fourth-Quarter and Full-Year 2003   
                             Earnings Announcement                             

Eli Lilly and Company (NYSE: LLY) will announce its financial results for the
fourth quarter and full year of 2003 on Thursday, January 29, 2004. Lilly will
also conduct a conference call on that day with the investment community and
media to further detail the company's financial performance.

The conference call will be held from 9:30 a.m. to 10:30 a.m. EST. Investors
and the general public can access a live webcast of the conference call through
a link that will be posted on Lilly's website at www.lilly.com. The webcast of
the conference call will be available for replay through March 1, 2004.

Lilly, a leading innovation-driven corporation, is developing a growing
portfolio of first-in-class and best-in-class pharmaceutical products by
applying the latest research from its own worldwide laboratories and from
collaborations with eminent scientific organizations. Headquartered in
Indianapolis, Ind., Lilly provides answers - through medicines and information
- for some of the world's most urgent medical needs. Additional information
about Lilly is available at www.lilly.com.

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Eli Lilly and Company

Lilly Corporate Center

Indianapolis, Indiana 46285

U.S.A.

www.lilly.com







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