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	1-Common Stock	S	1000	$53.99	Disposed	137924804	Direct
2007-07-31	2-Common Stock	S	100	$54.04	Disposed	137924704	Direct
2007-07-31	3-Common Stock	S	400	$54.05	Disposed	137924304	Direct
2007-07-31	4-Common Stock	S	500	$54.06	Disposed	137923804	Direct
2007-07-31	5-Common Stock	S	1200	$54.07	Disposed	137922604	Direct
2007-07-31	6-Common Stock	S	1700	$54.08	Disposed	137920904	Direct
2007-07-31	7-Common Stock	S	7700	$54.09	Disposed	137913204	Direct
2007-07-31	8-Common Stock	S	1700	$54.10	Disposed	137911504	Direct
2007-07-31	9-Common Stock	S	1000	$54.11	Disposed	137910504	Direct
2007-07-31	10-Common Stock	S	700	$54.12	Disposed	137909804	Direct
2007-07-31	11-Common Stock	S	1800	$54.13	Disposed	137908004	Direct
2007-07-31	12-Common Stock	S	1000	$54.14	Disposed	137907004	Direct
2007-07-31	13-Common Stock	S	2400	$54.15	Disposed	137904604	Direct
2007-07-31	14-Common Stock	S	800	$54.16	Disposed	137903804	Direct
2007-07-31	15-Common Stock	S	1300	$54.17	Disposed	137902504	Direct
2007-07-31	16-Common Stock	S	1700	$54.18	Disposed	137900804	Direct
2007-07-31	17-Common Stock	S	1000	$54.19	Disposed	137899804	Direct
2007-07-31	18-Common Stock	S	1300	$54.20	Disposed	137898504	Direct
2007-07-31	19-Common Stock	S	4300	$54.21	Disposed	137894204	Direct
2007-07-31	20-Common Stock	S	3700	$54.22	Disposed	137890504	Direct
2007-07-31	21-Common Stock	S	1900	$54.23	Disposed	137888604	Direct
2007-07-31	22-Common Stock	S	1600	$54.24	Disposed	137887004	Direct
2007-07-31	23-Common Stock	S	1100	$54.25	Disposed	137885904	Direct
2007-07-31	24-Common Stock	S	1500	$54.26	Disposed	137884404	Direct
2007-07-31	25-Common Stock	S	3400	$54.27	Disposed	137881004	Direct
2007-07-31	26-Common Stock	S	2000	$54.28	Disposed	137879004	Direct
2007-07-31	27-Common Stock	S	2900	$54.29	Disposed	137876104	Direct
2007-07-31	28-Common Stock	S	3900	$54.30	Disposed	137872204	Direct
2007-07-31	29-Common Stock	S	3500	$54.31	Disposed	137868704	Direct
2007-07-31	30-Common Stock	S	3500	$54.32	Disposed	137865204	Direct