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	1-Common Stock	S	3700	$49.11	Disposed	136657104	Direct
2008-08-12	2-Common Stock	S	100	$49.12	Disposed	136657004	Direct
2008-08-12	3-Common Stock	S	1600	$49.12	Disposed	136655404	Direct
2008-08-12	4-Common Stock	S	1300	$49.13	Disposed	136654104	Direct
2008-08-12	5-Common Stock	S	4600	$49.14	Disposed	136649504	Direct
2008-08-12	6-Common Stock	S	2800	$49.15	Disposed	136646704	Direct
2008-08-12	7-Common Stock	S	1600	$49.16	Disposed	136645104	Direct
2008-08-12	8-Common Stock	S	700	$49.17	Disposed	136644404	Direct
2008-08-12	9-Common Stock	S	2100	$49.18	Disposed	136642304	Direct
2008-08-12	10-Common Stock	S	1600	$49.19	Disposed	136640704	Direct
2008-08-12	11-Common Stock	S	1100	$49.20	Disposed	136639604	Direct
2008-08-12	12-Common Stock	S	3912	$49.21	Disposed	136635692	Direct
2008-08-12	13-Common Stock	S	2588	$49.22	Disposed	136633104	Direct
2008-08-12	14-Common Stock	S	300	$49.23	Disposed	136632804	Direct
2008-08-12	15-Common Stock	S	1300	$49.23	Disposed	136631504	Direct
2008-08-12	16-Common Stock	S	1800	$49.24	Disposed	136629704	Direct
2008-08-12	17-Common Stock	S	900	$49.25	Disposed	136628804	Direct
2008-08-12	18-Common Stock	S	6900	$49.25	Disposed	136621904	Direct
2008-08-12	19-Common Stock	S	2600	$49.26	Disposed	136619304	Direct
2008-08-12	20-Common Stock	S	3200	$49.27	Disposed	136616104	Direct
2008-08-12	21-Common Stock	S	1500	$49.28	Disposed	136614604	Direct
2008-08-12	22-Common Stock	S	1500	$49.29	Disposed	136613104	Direct
2008-08-12	23-Common Stock	S	300	$49.30	Disposed	136612804	Direct
2008-08-12	24-Common Stock	S	600	$49.30	Disposed	136612204	Direct
2008-08-12	25-Common Stock	S	700	$49.31	Disposed	136611504	Direct
2008-08-12	26-Common Stock	S	1200	$49.32	Disposed	136610304	Direct
2008-08-12	27-Common Stock	S	200	$49.33	Disposed	136610104	Direct
2008-08-12	28-Common Stock	S	200	$49.33	Disposed	136609904	Direct
2008-08-12	29-Common Stock	S	1500	$49.34	Disposed	136608404	Direct
2008-08-12	30-Common Stock	S	1600	$49.35	Disposed	136606804	Direct