ELI LILLY & Co — Director's Dealing 2007

May 1, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2007-04-30

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-04-30	31-Common Stock	S	1700	$59.27	Disposed	139666404	Direct
2007-04-30	32-Common Stock	S	1400	$59.28	Disposed	139665004	Direct
2007-04-30	33-Common Stock	S	500	$59.29	Disposed	139664504	Direct
2007-04-30	34-Common Stock	S	1700	$59.30	Disposed	139662804	Direct
2007-04-30	35-Common Stock	S	800	$59.31	Disposed	139662004	Direct
2007-04-30	36-Common Stock	S	1100	$59.32	Disposed	139660904	Direct
2007-04-30	37-Common Stock	S	1800	$59.33	Disposed	139659104	Direct
2007-04-30	38-Common Stock	S	500	$59.34	Disposed	139658604	Direct
2007-04-30	39-Common Stock	S	900	$59.35	Disposed	139657704	Direct
2007-04-30	40-Common Stock	S	500	$59.36	Disposed	139657204	Direct
2007-04-30	41-Common Stock	S	300	$59.37	Disposed	139656904	Direct
2007-04-30	42-Common Stock	S	400	$59.38	Disposed	139656504	Direct
2007-04-30	43-Common Stock	S	300	$59.39	Disposed	139656204	Direct
2007-04-30	44-Common Stock	S	400	$59.40	Disposed	139655804	Direct