ELI LILLY & Co — Director's Dealing 2008

Aug 13, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-08-12

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-12	31-Common Stock	S	1000	$49.36	Disposed	136605804	Direct
2008-08-12	32-Common Stock	S	100	$49.37	Disposed	136605704	Direct
2008-08-12	33-Common Stock	S	2300	$49.37	Disposed	136603404	Direct
2008-08-12	34-Common Stock	S	800	$49.38	Disposed	136602604	Direct
2008-08-12	35-Common Stock	S	1500	$49.39	Disposed	136601104	Direct
2008-08-12	36-Common Stock	S	200	$49.40	Disposed	136600904	Direct
2008-08-12	37-Common Stock	S	1500	$49.40	Disposed	136599404	Direct
2008-08-12	38-Common Stock	S	1700	$49.41	Disposed	136597704	Direct
2008-08-12	39-Common Stock	S	3100	$49.42	Disposed	136594604	Direct
2008-08-12	40-Common Stock	S	2300	$49.43	Disposed	136592304	Direct
2008-08-12	41-Common Stock	S	3100	$49.44	Disposed	136589204	Direct
2008-08-12	42-Common Stock	S	2600	$49.45	Disposed	136586604	Direct
2008-08-12	43-Common Stock	S	2900	$49.46	Disposed	136583704	Direct
2008-08-12	44-Common Stock	S	2500	$49.47	Disposed	136581204	Direct
2008-08-12	45-Common Stock	S	100	$49.48	Disposed	136581104	Direct
2008-08-12	46-Common Stock	S	1100	$49.48	Disposed	136580004	Direct
2008-08-12	47-Common Stock	S	1100	$49.49	Disposed	136578904	Direct
2008-08-12	48-Common Stock	S	300	$49.50	Disposed	136578604	Direct
2008-08-12	49-Common Stock	S	500	$49.51	Disposed	136578104	Direct
2008-08-12	50-Common Stock	S	500	$49.51	Disposed	136577604	Direct
2008-08-12	51-Common Stock	S	700	$49.52	Disposed	136576904	Direct
2008-08-12	52-Common Stock	S	1199	$49.53	Disposed	136575705	Direct
2008-08-12	53-Common Stock	S	200	$49.54	Disposed	136575505	Direct
2008-08-12	54-Common Stock	S	300	$49.54	Disposed	136575205	Direct
2008-08-12	55-Common Stock	S	200	$49.55	Disposed	136575005	Direct
2008-08-12	56-Common Stock	S	1201	$49.55	Disposed	136573804	Direct
2008-08-12	57-Common Stock	S	1500	$49.56	Disposed	136572304	Direct
2008-08-12	58-Common Stock	S	100	$49.57	Disposed	136572204	Direct
2008-08-12	59-Common Stock	S	1000	$49.57	Disposed	136571204	Direct
2008-08-12	60-Common Stock	S	2600	$49.58	Disposed	136568604	Direct