Lilly To Announce 2004 Financial Guidance on January 5; Company To Webcast Its Conference Call

    Eli Lilly and Company

Eli Lilly and Company (NYSE:LLY) will announce its financial expectations for
the first quarter and full year 2004 on Monday, January 5, ahead of Lilly's
participation at upcoming healthcare investor conferences in the early part of
January. Lilly will also conduct a conference call on January 5 with the
investment community and media to further detail the company's financial
guidance.

The conference call will be held from 8:30 a.m. to 9:15 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 January 19, 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.