ELI LILLY & Co — Director's Dealing 2007

Aug 1, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2007-07-31

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-31	31-Common Stock	S	3400	$54.33	Disposed	137861804	Direct
2007-07-31	32-Common Stock	S	3200	$54.34	Disposed	137858604	Direct
2007-07-31	33-Common Stock	S	4700	$54.35	Disposed	137853904	Direct
2007-07-31	34-Common Stock	S	2900	$54.36	Disposed	137851004	Direct
2007-07-31	35-Common Stock	S	3800	$54.37	Disposed	137847204	Direct
2007-07-31	36-Common Stock	S	2700	$54.38	Disposed	137844504	Direct
2007-07-31	37-Common Stock	S	5500	$54.39	Disposed	137839004	Direct
2007-07-31	38-Common Stock	S	6300	$54.40	Disposed	137832704	Direct
2007-07-31	39-Common Stock	S	4700	$54.41	Disposed	137828004	Direct
2007-07-31	40-Common Stock	S	2800	$54.42	Disposed	137825204	Direct
2007-07-31	41-Common Stock	S	2700	$54.43	Disposed	137822504	Direct
2007-07-31	42-Common Stock	S	3300	$54.44	Disposed	137819204	Direct
2007-07-31	43-Common Stock	S	4100	$54.45	Disposed	137815104	Direct
2007-07-31	44-Common Stock	S	1000	$54.46	Disposed	137814104	Direct
2007-07-31	45-Common Stock	S	1100	$54.47	Disposed	137813004	Direct
2007-07-31	46-Common Stock	S	500	$54.48	Disposed	137812504	Direct
2007-07-31	47-Common Stock	S	3200	$54.49	Disposed	137809304	Direct
2007-07-31	48-Common Stock	S	600	$54.50	Disposed	137808704	Direct
2007-07-31	49-Common Stock	S	1000	$54.51	Disposed	137807704	Direct
2007-07-31	50-Common Stock	S	1100	$54.52	Disposed	137806604	Direct
2007-07-31	51-Common Stock	S	400	$54.55	Disposed	137806204	Direct
2007-07-31	52-Common Stock	S	100	$54.57	Disposed	137806104	Direct
2007-07-31	53-Common Stock	S	900	$54.58	Disposed	137805204	Direct
2007-07-31	54-Common Stock	S	300	$54.59	Disposed	137804904	Direct
2007-07-31	55-Common Stock	S	200	$54.60	Disposed	137804704	Direct
2007-07-31	56-Common Stock	S	1200	$54.61	Disposed	137803504	Direct
2007-07-31	57-Common Stock	S	500	$54.62	Disposed	137803004	Direct
2007-07-31	58-Common Stock	S	600	$54.63	Disposed	137802404	Direct
2007-07-31	59-Common Stock	S	400	$54.64	Disposed	137802004	Direct
2007-07-31	60-Common Stock	S	600	$54.65	Disposed	137801404	Direct