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	1-Common Stock	S	500	$58.95	Disposed	139765304	Direct
2007-04-30	2-Common Stock	S	1700	$58.96	Disposed	139763604	Direct
2007-04-30	3-Common Stock	S	1200	$58.98	Disposed	139762404	Direct
2007-04-30	4-Common Stock	S	700	$58.99	Disposed	139761704	Direct
2007-04-30	5-Common Stock	S	900	$59.00	Disposed	139760804	Direct
2007-04-30	6-Common Stock	S	1900	$59.01	Disposed	139758904	Direct
2007-04-30	7-Common Stock	S	1700	$59.02	Disposed	139757204	Direct
2007-04-30	8-Common Stock	S	300	$59.03	Disposed	139756904	Direct
2007-04-30	9-Common Stock	S	2100	$59.04	Disposed	139754804	Direct
2007-04-30	10-Common Stock	S	700	$59.06	Disposed	139754104	Direct
2007-04-30	11-Common Stock	S	700	$59.07	Disposed	139753404	Direct
2007-04-30	12-Common Stock	S	3700	$59.08	Disposed	139749704	Direct
2007-04-30	13-Common Stock	S	3200	$59.09	Disposed	139746504	Direct
2007-04-30	14-Common Stock	S	10100	$59.10	Disposed	139736404	Direct
2007-04-30	15-Common Stock	S	10700	$59.11	Disposed	139725704	Direct
2007-04-30	16-Common Stock	S	10000	$59.12	Disposed	139715704	Direct
2007-04-30	17-Common Stock	S	11700	$59.13	Disposed	139704004	Direct
2007-04-30	18-Common Stock	S	5100	$59.14	Disposed	139698904	Direct
2007-04-30	19-Common Stock	S	4300	$59.15	Disposed	139694604	Direct
2007-04-30	20-Common Stock	S	3700	$59.16	Disposed	139690904	Direct
2007-04-30	21-Common Stock	S	2200	$59.17	Disposed	139688704	Direct
2007-04-30	22-Common Stock	S	3600	$59.18	Disposed	139685104	Direct
2007-04-30	23-Common Stock	S	4600	$59.19	Disposed	139680504	Direct
2007-04-30	24-Common Stock	S	1800	$59.20	Disposed	139678704	Direct
2007-04-30	25-Common Stock	S	2600	$59.21	Disposed	139676104	Direct
2007-04-30	26-Common Stock	S	600	$59.22	Disposed	139675504	Direct
2007-04-30	27-Common Stock	S	1600	$59.23	Disposed	139673904	Direct
2007-04-30	28-Common Stock	S	800	$59.24	Disposed	139673104	Direct
2007-04-30	29-Common Stock	S	1500	$59.25	Disposed	139671604	Direct
2007-04-30	30-Common Stock	S	3500	$59.26	Disposed	139668104	Direct