ELI LILLY & Co — Director's Dealing 2007

May 2, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2007-05-01

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-01	31-Common Stock	S	1500	$59.12	Disposed	139364304	Direct
2007-05-01	32-Common Stock	S	1500	$59.13	Disposed	139362804	Direct
2007-05-01	33-Common Stock	S	1400	$59.14	Disposed	139361404	Direct
2007-05-01	34-Common Stock	S	200	$59.15	Disposed	139361204	Direct
2007-05-01	35-Common Stock	S	200	$59.16	Disposed	139361004	Direct
2007-05-01	36-Common Stock	S	900	$59.19	Disposed	139360104	Direct
2007-05-01	37-Common Stock	S	700	$59.20	Disposed	139359404	Direct
2007-05-01	38-Common Stock	S	2100	$59.21	Disposed	139357304	Direct
2007-05-01	39-Common Stock	S	800	$59.25	Disposed	139356504	Direct
2007-05-01	40-Common Stock	S	700	$59.31	Disposed	139355804	Direct