ELI LILLY & Co — Director's Dealing 2008

Aug 25, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-08-22

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-22	31-Common Stock	S	2322	$47.63	Disposed	136328590	Direct
2008-08-22	32-Common Stock	S	400	$47.65	Disposed	136328190	Direct
2008-08-22	33-Common Stock	S	200	$47.66	Disposed	136327990	Direct
2008-08-22	34-Common Stock	S	1886	$47.67	Disposed	136326104	Direct
2008-08-22	35-Common Stock	S	300	$47.69	Disposed	136325804	Direct
2008-08-22	36-Common Stock	S	400	$47.70	Disposed	136325404	Direct
2008-08-22	37-Common Stock	S	200	$47.71	Disposed	136325204	Direct
2008-08-22	38-Common Stock	S	1770	$47.72	Disposed	136323434	Direct
2008-08-22	39-Common Stock	S	1900	$47.73	Disposed	136321534	Direct
2008-08-22	40-Common Stock	S	300	$47.74	Disposed	136321234	Direct
2008-08-22	41-Common Stock	S	800	$47.75	Disposed	136320434	Direct
2008-08-22	42-Common Stock	S	330	$47.76	Disposed	136320104	Direct
2008-08-22	43-Common Stock	S	300	$47.78	Disposed	136319804	Direct
2008-08-22	44-Common Stock	S	200	$47.79	Disposed	136319604	Direct
2008-08-22	45-Common Stock	S	100	$47.81	Disposed	136319504	Direct
2008-08-22	46-Common Stock	S	100	$47.82	Disposed	136319404	Direct
2008-08-22	47-Common Stock	S	400	$47.83	Disposed	136319004	Direct
2008-08-22	48-Common Stock	S	500	$47.83	Disposed	136318504	Direct
2008-08-22	49-Common Stock	S	1300	$47.84	Disposed	136317204	Direct
2008-08-22	50-Common Stock	S	1000	$47.85	Disposed	136316204	Direct
2008-08-22	51-Common Stock	S	600	$47.86	Disposed	136315604	Direct
2008-08-22	52-Common Stock	S	500	$47.87	Disposed	136315104	Direct
2008-08-22	53-Common Stock	S	200	$47.88	Disposed	136314904	Direct
2008-08-22	54-Common Stock	S	200	$47.89	Disposed	136314704	Direct
2008-08-22	55-Common Stock	S	100	$47.89	Disposed	136314604	Direct
2008-08-22	56-Common Stock	S	300	$47.90	Disposed	136314304	Direct
2008-08-22	57-Common Stock	S	200	$47.91	Disposed	136314104	Direct
2008-08-22	58-Common Stock	S	200	$47.92	Disposed	136313904	Direct
2008-08-22	59-Common Stock	S	800	$47.93	Disposed	136313104	Direct
2008-08-22	60-Common Stock	S	200	$47.94	Disposed	136312904	Direct