ELI LILLY & Co — Director's Dealing 2008

Aug 29, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-08-28

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-28	1-Common Stock	S	100	$46.68	Disposed	136125704	Direct
2008-08-28	2-Common Stock	S	400	$46.68	Disposed	136125304	Direct
2008-08-28	3-Common Stock	S	100	$46.69	Disposed	136125204	Direct
2008-08-28	4-Common Stock	S	100	$46.71	Disposed	136125104	Direct
2008-08-28	5-Common Stock	S	200	$46.73	Disposed	136124904	Direct
2008-08-28	6-Common Stock	S	100	$46.74	Disposed	136124804	Direct
2008-08-28	7-Common Stock	S	2200	$46.74	Disposed	136122604	Direct
2008-08-28	8-Common Stock	S	400	$46.75	Disposed	136122204	Direct
2008-08-28	9-Common Stock	S	400	$46.75	Disposed	136121804	Direct
2008-08-28	10-Common Stock	S	400	$46.76	Disposed	136121404	Direct
2008-08-28	11-Common Stock	S	2000	$46.76	Disposed	136119404	Direct
2008-08-28	12-Common Stock	S	200	$46.77	Disposed	136119204	Direct
2008-08-28	13-Common Stock	S	2500	$46.77	Disposed	136116704	Direct
2008-08-28	14-Common Stock	S	400	$46.78	Disposed	136116304	Direct
2008-08-28	15-Common Stock	S	6039	$46.78	Disposed	136110265	Direct
2008-08-28	16-Common Stock	S	2200	$46.79	Disposed	136108065	Direct
2008-08-28	17-Common Stock	S	2461	$46.79	Disposed	136105604	Direct
2008-08-28	18-Common Stock	S	300	$46.80	Disposed	136105304	Direct
2008-08-28	19-Common Stock	S	1900	$46.80	Disposed	136103404	Direct
2008-08-28	20-Common Stock	S	1000	$46.81	Disposed	136102404	Direct
2008-08-28	21-Common Stock	S	4200	$46.81	Disposed	136098204	Direct
2008-08-28	22-Common Stock	S	800	$46.82	Disposed	136097404	Direct
2008-08-28	23-Common Stock	S	2100	$46.82	Disposed	136095304	Direct
2008-08-28	24-Common Stock	S	1600	$46.83	Disposed	136093704	Direct
2008-08-28	25-Common Stock	S	4600	$46.83	Disposed	136089104	Direct
2008-08-28	26-Common Stock	S	2200	$46.84	Disposed	136086904	Direct
2008-08-28	27-Common Stock	S	5500	$46.84	Disposed	136081404	Direct
2008-08-28	28-Common Stock	S	3200	$46.85	Disposed	136078204	Direct
2008-08-28	29-Common Stock	S	7500	$46.85	Disposed	136070704	Direct
2008-08-28	30-Common Stock	S	1200	$46.86	Disposed	136069504	Direct