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: 2008-08-15

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-15	31-Common Stock	S	3500	$48.89	Disposed	136423404	Direct
2008-08-15	32-Common Stock	S	6550	$48.90	Disposed	136416854	Direct
2008-08-15	33-Common Stock	S	2020	$48.91	Disposed	136414834	Direct
2008-08-15	34-Common Stock	S	800	$48.92	Disposed	136414034	Direct
2008-08-15	35-Common Stock	S	1300	$48.93	Disposed	136412734	Direct
2008-08-15	36-Common Stock	S	1700	$48.94	Disposed	136411034	Direct
2008-08-15	37-Common Stock	S	4430	$48.95	Disposed	136406604	Direct
2008-08-15	38-Common Stock	S	2800	$48.96	Disposed	136403804	Direct
2008-08-15	39-Common Stock	S	2415	$48.97	Disposed	136401389	Direct
2008-08-15	40-Common Stock	S	1585	$48.98	Disposed	136399804	Direct
2008-08-15	41-Common Stock	S	1100	$48.99	Disposed	136398704	Direct
2008-08-15	42-Common Stock	S	200	$49.00	Disposed	136398504	Direct
2008-08-15	43-Common Stock	S	800	$49.05	Disposed	136397704	Direct
2008-08-15	44-Common Stock	S	600	$49.06	Disposed	136397104	Direct
2008-08-15	45-Common Stock	S	400	$49.07	Disposed	136396704	Direct
2008-08-15	46-Common Stock	S	300	$49.08	Disposed	136396404	Direct
2008-08-15	47-Common Stock	S	600	$49.10	Disposed	136395804	Direct