ELI LILLY & Co — Director's Dealing 2008

Aug 26, 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)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-25	31-Common Stock	S	800	$47.51	Disposed	136215804	Direct
2008-08-25	32-Common Stock	S	800	$47.51	Disposed	136215004	Direct
2008-08-25	33-Common Stock	S	2400	$47.52	Disposed	136212604	Direct
2008-08-25	34-Common Stock	S	8400	$47.52	Disposed	136204204	Direct
2008-08-25	35-Common Stock	S	1700	$47.53	Disposed	136202504	Direct
2008-08-25	36-Common Stock	S	4200	$47.53	Disposed	136198304	Direct
2008-08-25	37-Common Stock	S	3300	$47.54	Disposed	136195004	Direct
2008-08-25	38-Common Stock	S	2470	$47.54	Disposed	136192534	Direct
2008-08-25	39-Common Stock	S	1500	$47.55	Disposed	136191034	Direct
2008-08-25	40-Common Stock	S	3900	$47.55	Disposed	136187134	Direct
2008-08-25	41-Common Stock	S	900	$47.56	Disposed	136186234	Direct
2008-08-25	42-Common Stock	S	2400	$47.56	Disposed	136183834	Direct
2008-08-25	43-Common Stock	S	600	$47.57	Disposed	136183234	Direct
2008-08-25	44-Common Stock	S	2930	$47.57	Disposed	136180304	Direct
2008-08-25	45-Common Stock	S	1100	$47.58	Disposed	136179204	Direct
2008-08-25	46-Common Stock	S	1100	$47.58	Disposed	136178104	Direct
2008-08-25	47-Common Stock	S	300	$47.59	Disposed	136177804	Direct
2008-08-25	48-Common Stock	S	200	$47.59	Disposed	136177604	Direct
2008-08-25	49-Common Stock	S	2200	$47.60	Disposed	136175404	Direct
2008-08-25	50-Common Stock	S	2000	$47.60	Disposed	136173404	Direct
2008-08-25	51-Common Stock	S	600	$47.61	Disposed	136172804	Direct
2008-08-25	52-Common Stock	S	1400	$47.61	Disposed	136171404	Direct
2008-08-25	53-Common Stock	S	2100	$47.62	Disposed	136169304	Direct
2008-08-25	54-Common Stock	S	2000	$47.62	Disposed	136167304	Direct
2008-08-25	55-Common Stock	S	500	$47.63	Disposed	136166804	Direct
2008-08-25	56-Common Stock	S	200	$47.63	Disposed	136166604	Direct
2008-08-25	57-Common Stock	S	1600	$47.64	Disposed	136165004	Direct
2008-08-25	58-Common Stock	S	700	$47.65	Disposed	136164304	Direct
2008-08-25	59-Common Stock	S	400	$47.65	Disposed	136163904	Direct
2008-08-25	60-Common Stock	S	200	$47.66	Disposed	136163704	Direct