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: 2008-09-02

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-02	151-Common Stock	S	400	$47.48	Disposed	135810004	Direct
2008-09-02	152-Common Stock	S	200	$47.49	Disposed	135809804	Direct
2008-09-02	153-Common Stock	S	900	$47.49	Disposed	135808904	Direct
2008-09-02	154-Common Stock	S	500	$47.50	Disposed	135808404	Direct
2008-09-02	155-Common Stock	S	100	$47.51	Disposed	135808304	Direct
2008-09-02	156-Common Stock	S	900	$47.51	Disposed	135807404	Direct
2008-09-02	157-Common Stock	S	300	$47.52	Disposed	135807104	Direct
2008-09-02	158-Common Stock	S	1700	$47.52	Disposed	135805404	Direct
2008-09-02	159-Common Stock	S	300	$47.53	Disposed	135805104	Direct
2008-09-02	160-Common Stock	S	200	$47.54	Disposed	135804904	Direct
2008-09-02	161-Common Stock	S	1800	$47.54	Disposed	135803104	Direct
2008-09-02	162-Common Stock	S	700	$47.55	Disposed	135802404	Direct
2008-09-02	163-Common Stock	S	400	$47.56	Disposed	135802004	Direct
2008-09-02	164-Common Stock	S	1200	$47.59	Disposed	135800804	Direct