ELI LILLY & Co — Director's Dealing 2008

Sep 3, 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)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-02	61-Common Stock	S	300	$46.84	Disposed	135867969	Direct
2008-09-02	62-Common Stock	S	200	$46.85	Disposed	135867769	Direct
2008-09-02	63-Common Stock	S	100	$46.87	Disposed	135867669	Direct
2008-09-02	64-Common Stock	S	765	$46.87	Disposed	135866904	Direct
2008-09-02	65-Common Stock	S	100	$46.88	Disposed	135866804	Direct
2008-09-02	66-Common Stock	S	200	$46.91	Disposed	135866604	Direct
2008-09-02	67-Common Stock	S	400	$46.92	Disposed	135866204	Direct
2008-09-02	68-Common Stock	S	200	$46.93	Disposed	135866004	Direct
2008-09-02	69-Common Stock	S	400	$46.94	Disposed	135865604	Direct
2008-09-02	70-Common Stock	S	100	$46.96	Disposed	135865504	Direct
2008-09-02	71-Common Stock	S	700	$46.97	Disposed	135864804	Direct
2008-09-02	72-Common Stock	S	200	$46.98	Disposed	135864604	Direct
2008-09-02	73-Common Stock	S	200	$46.99	Disposed	135864404	Direct
2008-09-02	74-Common Stock	S	100	$47.00	Disposed	135864304	Direct
2008-09-02	75-Common Stock	S	200	$47.00	Disposed	135864104	Direct
2008-09-02	76-Common Stock	S	100	$47.01	Disposed	135864004	Direct
2008-09-02	77-Common Stock	S	1000	$47.01	Disposed	135863004	Direct
2008-09-02	78-Common Stock	S	100	$47.02	Disposed	135862904	Direct
2008-09-02	79-Common Stock	S	200	$47.02	Disposed	135862704	Direct
2008-09-02	80-Common Stock	S	200	$47.03	Disposed	135862504	Direct
2008-09-02	81-Common Stock	S	300	$47.04	Disposed	135862204	Direct
2008-09-02	82-Common Stock	S	100	$47.05	Disposed	135862104	Direct
2008-09-02	83-Common Stock	S	500	$47.05	Disposed	135861604	Direct
2008-09-02	84-Common Stock	S	200	$47.06	Disposed	135861404	Direct
2008-09-02	85-Common Stock	S	100	$47.07	Disposed	135861304	Direct
2008-09-02	86-Common Stock	S	900	$47.07	Disposed	135860404	Direct
2008-09-02	87-Common Stock	S	100	$47.08	Disposed	135860304	Direct
2008-09-02	88-Common Stock	S	700	$47.08	Disposed	135859604	Direct
2008-09-02	89-Common Stock	S	1100	$47.09	Disposed	135858504	Direct
2008-09-02	90-Common Stock	S	500	$47.10	Disposed	135858004	Direct