ELI LILLY & Co - Director's Dealing 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-09-09

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-09	151-Common Stock	S	900	$47.57	Disposed	135678104	Direct
2008-09-09	152-Common Stock	S	800	$47.57	Disposed	135677304	Direct
2008-09-09	153-Common Stock	S	200	$47.58	Disposed	135677104	Direct
2008-09-09	154-Common Stock	S	700	$47.58	Disposed	135676404	Direct
2008-09-09	155-Common Stock	S	600	$47.59	Disposed	135675804	Direct
2008-09-09	156-Common Stock	S	300	$47.59	Disposed	135675504	Direct
2008-09-09	157-Common Stock	S	300	$47.61	Disposed	135675204	Direct
2008-09-09	158-Common Stock	S	1000	$47.62	Disposed	135674204	Direct
2008-09-09	159-Common Stock	S	300	$47.62	Disposed	135673904	Direct
2008-09-09	160-Common Stock	S	300	$47.63	Disposed	135673604	Direct
2008-09-09	161-Common Stock	S	1000	$47.63	Disposed	135672604	Direct
2008-09-09	162-Common Stock	S	200	$47.64	Disposed	135672404	Direct
2008-09-09	163-Common Stock	S	200	$47.64	Disposed	135672204	Direct
2008-09-09	164-Common Stock	S	200	$47.65	Disposed	135672004	Direct
2008-09-09	165-Common Stock	S	400	$47.66	Disposed	135671604	Direct
2008-09-09	166-Common Stock	S	500	$47.69	Disposed	135671104	Direct
2008-09-09	167-Common Stock	S	300	$47.71	Disposed	135670804	Direct