ELI LILLY & Co — Director's Dealing 2007

May 10, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2007-05-09

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-09	31-Common Stock	S	5000	$59.74	Disposed	138853404	Direct
2007-05-09	32-Common Stock	S	7200	$59.75	Disposed	138846204	Direct
2007-05-09	33-Common Stock	S	400	$59.76	Disposed	138845804	Direct