ELI LILLY & Co — Director's Dealing 2007

Sep 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2007-09-04

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-09-04	1-Common Stock	S	500	$57.48	Disposed	137800304	Direct
2007-09-04	2-Common Stock	S	400	$57.49	Disposed	137799904	Direct
2007-09-04	3-Common Stock	S	1100	$57.51	Disposed	137798804	Direct
2007-09-04	4-Common Stock	S	1200	$57.52	Disposed	137797604	Direct
2007-09-04	5-Common Stock	S	1200	$57.53	Disposed	137796404	Direct
2007-09-04	6-Common Stock	S	800	$57.55	Disposed	137795604	Direct
2007-09-04	7-Common Stock	S	2500	$57.56	Disposed	137793104	Direct
2007-09-04	8-Common Stock	S	2600	$57.57	Disposed	137790504	Direct
2007-09-04	9-Common Stock	S	1000	$57.58	Disposed	137789504	Direct
2007-09-04	10-Common Stock	S	500	$57.59	Disposed	137789004	Direct
2007-09-04	11-Common Stock	S	900	$57.60	Disposed	137788104	Direct
2007-09-04	12-Common Stock	S	400	$57.61	Disposed	137787704	Direct
2007-09-04	13-Common Stock	S	800	$57.62	Disposed	137786904	Direct
2007-09-04	14-Common Stock	S	500	$57.64	Disposed	137786404	Direct
2007-09-04	15-Common Stock	S	400	$57.66	Disposed	137786004	Direct
2007-09-04	16-Common Stock	S	500	$57.69	Disposed	137785504	Direct
2007-09-04	17-Common Stock	S	1200	$57.70	Disposed	137784304	Direct
2007-09-04	18-Common Stock	S	1000	$57.71	Disposed	137783304	Direct
2007-09-04	19-Common Stock	S	2200	$57.72	Disposed	137781104	Direct
2007-09-04	20-Common Stock	S	600	$57.73	Disposed	137780504	Direct
2007-09-04	21-Common Stock	S	3400	$57.74	Disposed	137777104	Direct
2007-09-04	22-Common Stock	S	900	$57.75	Disposed	137776204	Direct
2007-09-04	23-Common Stock	S	900	$57.76	Disposed	137775304	Direct
2007-09-04	24-Common Stock	S	1200	$57.77	Disposed	137774104	Direct
2007-09-04	25-Common Stock	S	100	$57.78	Disposed	137774004	Direct
2007-09-04	26-Common Stock	S	2900	$57.79	Disposed	137771104	Direct
2007-09-04	27-Common Stock	S	1900	$57.80	Disposed	137769204	Direct
2007-09-04	28-Common Stock	S	1300	$57.81	Disposed	137767904	Direct
2007-09-04	29-Common Stock	S	500	$57.82	Disposed	137767404	Direct
2007-09-04	30-Common Stock	S	400	$57.83	Disposed	137767004	Direct