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	61-Common Stock	S	500	$46.80	Disposed	135728204	Direct
2008-09-09	62-Common Stock	S	1000	$46.81	Disposed	135727204	Direct
2008-09-09	63-Common Stock	S	400	$46.81	Disposed	135726804	Direct
2008-09-09	64-Common Stock	S	600	$46.82	Disposed	135726204	Direct
2008-09-09	65-Common Stock	S	700	$46.82	Disposed	135725504	Direct
2008-09-09	66-Common Stock	S	900	$46.83	Disposed	135724604	Direct
2008-09-09	67-Common Stock	S	1300	$46.83	Disposed	135723304	Direct
2008-09-09	68-Common Stock	S	400	$46.84	Disposed	135722904	Direct
2008-09-09	69-Common Stock	S	300	$46.84	Disposed	135722604	Direct
2008-09-09	70-Common Stock	S	100	$46.85	Disposed	135722504	Direct
2008-09-09	71-Common Stock	S	300	$46.85	Disposed	135722204	Direct
2008-09-09	72-Common Stock	S	900	$46.86	Disposed	135721304	Direct
2008-09-09	73-Common Stock	S	1100	$46.86	Disposed	135720204	Direct
2008-09-09	74-Common Stock	S	1700	$46.87	Disposed	135718504	Direct
2008-09-09	75-Common Stock	S	1800	$46.87	Disposed	135716704	Direct
2008-09-09	76-Common Stock	S	1800	$46.88	Disposed	135714904	Direct
2008-09-09	77-Common Stock	S	1100	$46.88	Disposed	135713804	Direct
2008-09-09	78-Common Stock	S	1600	$46.89	Disposed	135712204	Direct
2008-09-09	79-Common Stock	S	700	$46.89	Disposed	135711504	Direct
2008-09-09	80-Common Stock	S	400	$46.90	Disposed	135711104	Direct
2008-09-09	81-Common Stock	S	200	$46.90	Disposed	135710904	Direct
2008-09-09	82-Common Stock	S	400	$46.91	Disposed	135710504	Direct
2008-09-09	83-Common Stock	S	400	$46.91	Disposed	135710104	Direct
2008-09-09	84-Common Stock	S	1000	$46.92	Disposed	135709104	Direct
2008-09-09	85-Common Stock	S	200	$46.92	Disposed	135708904	Direct
2008-09-09	86-Common Stock	S	900	$46.93	Disposed	135708004	Direct
2008-09-09	87-Common Stock	S	800	$46.93	Disposed	135707204	Direct
2008-09-09	88-Common Stock	S	200	$46.94	Disposed	135707004	Direct
2008-09-09	89-Common Stock	S	1100	$46.94	Disposed	135705904	Direct
2008-09-09	90-Common Stock	S	100	$46.95	Disposed	135705804	Direct