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: 2008-08-25

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-25	91-Common Stock	S	2930	$48.00	Disposed	136139174	Direct
2008-08-25	92-Common Stock	S	570	$48.01	Disposed	136138604	Direct
2008-08-25	93-Common Stock	S	300	$48.02	Disposed	136138304	Direct
2008-08-25	94-Common Stock	S	500	$48.03	Disposed	136137804	Direct
2008-08-25	95-Common Stock	S	300	$48.05	Disposed	136137504	Direct
2008-08-25	96-Common Stock	S	900	$48.10	Disposed	136136604	Direct
2008-08-25	97-Common Stock	S	100	$48.11	Disposed	136136504	Direct
2008-08-25	98-Common Stock	S	1000	$48.13	Disposed	136135504	Direct
2008-08-25	99-Common Stock	S	1400	$48.14	Disposed	136134104	Direct
2008-08-25	100-Common Stock	S	2700	$48.15	Disposed	136131404	Direct
2008-08-25	101-Common Stock	S	500	$48.16	Disposed	136130904	Direct
2008-08-25	102-Common Stock	S	1800	$48.17	Disposed	136129104	Direct
2008-08-25	103-Common Stock	S	700	$48.18	Disposed	136128404	Direct
2008-08-25	104-Common Stock	S	300	$48.19	Disposed	136128104	Direct
2008-08-25	105-Common Stock	S	400	$48.20	Disposed	136127704	Direct
2008-08-25	106-Common Stock	S	1000	$48.22	Disposed	136126704	Direct
2008-08-25	107-Common Stock	S	400	$48.23	Disposed	136126304	Direct
2008-08-25	108-Common Stock	S	500	$48.24	Disposed	136125804	Direct