ELI LILLY & Co — Director's Dealing 2007

Sep 4, 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: TALLARIGO LORENZO (President, Internat'l Opers.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-09-04	Common Stock	S	1000	$57.71	Disposed	74058	Direct
2007-09-04	Common Stock	S	133	$57.72	Disposed	73925	Direct
2007-09-04	Common Stock	S	1000	$57.73	Disposed	72925	Direct
2007-09-04	Common Stock	S	1000	$57.74	Disposed	71925	Direct
2007-09-04	Common Stock	S	1400	$57.75	Disposed	70525	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1815	Indirect

Footnotes

F1: The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 2, 2007.