ELI LILLY & Co — Director's Dealing 2008

Sep 10, 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)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-09	121-Common Stock	S	100	$47.36	Disposed	135693904	Direct
2008-09-09	122-Common Stock	S	200	$47.38	Disposed	135693704	Direct
2008-09-09	123-Common Stock	S	890	$47.38	Disposed	135692814	Direct
2008-09-09	124-Common Stock	S	1000	$47.39	Disposed	135691814	Direct
2008-09-09	125-Common Stock	S	1200	$47.39	Disposed	135690614	Direct
2008-09-09	126-Common Stock	S	1000	$47.40	Disposed	135689614	Direct
2008-09-09	127-Common Stock	S	500	$47.40	Disposed	135689114	Direct
2008-09-09	128-Common Stock	S	1800	$47.41	Disposed	135687314	Direct
2008-09-09	129-Common Stock	S	300	$47.41	Disposed	135687014	Direct
2008-09-09	130-Common Stock	S	600	$47.42	Disposed	135686414	Direct
2008-09-09	131-Common Stock	S	200	$47.43	Disposed	135686214	Direct
2008-09-09	132-Common Stock	S	210	$47.43	Disposed	135686004	Direct
2008-09-09	133-Common Stock	S	300	$47.44	Disposed	135685704	Direct
2008-09-09	134-Common Stock	S	300	$47.44	Disposed	135685404	Direct
2008-09-09	135-Common Stock	S	500	$47.45	Disposed	135684904	Direct
2008-09-09	136-Common Stock	S	100	$47.45	Disposed	135684804	Direct
2008-09-09	137-Common Stock	S	200	$47.46	Disposed	135684604	Direct
2008-09-09	138-Common Stock	S	300	$47.47	Disposed	135684304	Direct
2008-09-09	139-Common Stock	S	700	$47.47	Disposed	135683604	Direct
2008-09-09	140-Common Stock	S	200	$47.48	Disposed	135683404	Direct
2008-09-09	141-Common Stock	S	600	$47.49	Disposed	135682804	Direct
2008-09-09	142-Common Stock	S	400	$47.50	Disposed	135682404	Direct
2008-09-09	143-Common Stock	S	400	$47.50	Disposed	135682004	Direct
2008-09-09	144-Common Stock	S	100	$47.52	Disposed	135681904	Direct
2008-09-09	145-Common Stock	S	300	$47.53	Disposed	135681604	Direct
2008-09-09	146-Common Stock	S	800	$47.54	Disposed	135680804	Direct
2008-09-09	147-Common Stock	S	200	$47.55	Disposed	135680604	Direct
2008-09-09	148-Common Stock	S	300	$47.55	Disposed	135680304	Direct
2008-09-09	149-Common Stock	S	200	$47.56	Disposed	135680104	Direct
2008-09-09	150-Common Stock	S	1100	$47.56	Disposed	135679004	Direct