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	91-Common Stock	S	400	$46.95	Disposed	135705404	Direct
2008-09-09	92-Common Stock	S	1200	$46.96	Disposed	135704204	Direct
2008-09-09	93-Common Stock	S	500	$46.96	Disposed	135703704	Direct
2008-09-09	94-Common Stock	S	100	$46.97	Disposed	135703604	Direct
2008-09-09	95-Common Stock	S	200	$46.98	Disposed	135703404	Direct
2008-09-09	96-Common Stock	S	100	$47.00	Disposed	135703304	Direct
2008-09-09	97-Common Stock	S	100	$47.01	Disposed	135703204	Direct
2008-09-09	98-Common Stock	S	100	$47.02	Disposed	135703104	Direct
2008-09-09	99-Common Stock	S	400	$47.02	Disposed	135702704	Direct
2008-09-09	100-Common Stock	S	200	$47.03	Disposed	135702504	Direct
2008-09-09	101-Common Stock	S	600	$47.04	Disposed	135701904	Direct
2008-09-09	102-Common Stock	S	1000	$47.05	Disposed	135700904	Direct
2008-09-09	103-Common Stock	S	500	$47.05	Disposed	135700404	Direct
2008-09-09	104-Common Stock	S	200	$47.06	Disposed	135700204	Direct
2008-09-09	105-Common Stock	S	800	$47.07	Disposed	135699404	Direct
2008-09-09	106-Common Stock	S	300	$47.08	Disposed	135699104	Direct
2008-09-09	107-Common Stock	S	100	$47.09	Disposed	135699004	Direct
2008-09-09	108-Common Stock	S	200	$47.09	Disposed	135698804	Direct
2008-09-09	109-Common Stock	S	300	$47.11	Disposed	135698504	Direct
2008-09-09	110-Common Stock	S	300	$47.12	Disposed	135698204	Direct
2008-09-09	111-Common Stock	S	500	$47.13	Disposed	135697704	Direct
2008-09-09	112-Common Stock	S	300	$47.13	Disposed	135697404	Direct
2008-09-09	113-Common Stock	S	200	$47.14	Disposed	135697204	Direct
2008-09-09	114-Common Stock	S	700	$47.15	Disposed	135696504	Direct
2008-09-09	115-Common Stock	S	300	$47.16	Disposed	135696204	Direct
2008-09-09	116-Common Stock	S	300	$47.19	Disposed	135695904	Direct
2008-09-09	117-Common Stock	S	300	$47.20	Disposed	135695604	Direct
2008-09-09	118-Common Stock	S	300	$47.26	Disposed	135695304	Direct
2008-09-09	119-Common Stock	S	500	$47.27	Disposed	135694804	Direct
2008-09-09	120-Common Stock	S	800	$47.34	Disposed	135694004	Direct