ELI LILLY & Co — Director's Dealing 2008

Aug 12, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-08-11

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-11	61-Common Stock	S	2600	$49.07	Disposed	136696504	Direct
2008-08-11	62-Common Stock	S	2700	$49.08	Disposed	136693804	Direct
2008-08-11	63-Common Stock	S	300	$49.09	Disposed	136693504	Direct
2008-08-11	64-Common Stock	S	2200	$49.09	Disposed	136691304	Direct
2008-08-11	65-Common Stock	S	100	$49.10	Disposed	136691204	Direct
2008-08-11	66-Common Stock	S	800	$49.10	Disposed	136690404	Direct
2008-08-11	67-Common Stock	S	400	$49.11	Disposed	136690004	Direct
2008-08-11	68-Common Stock	S	300	$49.12	Disposed	136689704	Direct
2008-08-11	69-Common Stock	S	1100	$49.12	Disposed	136688604	Direct
2008-08-11	70-Common Stock	S	900	$49.13	Disposed	136687704	Direct
2008-08-11	71-Common Stock	S	900	$49.14	Disposed	136686804	Direct
2008-08-11	72-Common Stock	S	600	$49.15	Disposed	136686204	Direct
2008-08-11	73-Common Stock	S	300	$49.16	Disposed	136685904	Direct
2008-08-11	74-Common Stock	S	200	$49.17	Disposed	136685704	Direct
2008-08-11	75-Common Stock	S	100	$49.19	Disposed	136685604	Direct
2008-08-11	76-Common Stock	S	400	$49.20	Disposed	136685204	Direct
2008-08-11	77-Common Stock	S	1400	$49.22	Disposed	136683804	Direct
2008-08-11	78-Common Stock	S	400	$49.23	Disposed	136683404	Direct
2008-08-11	79-Common Stock	S	1300	$49.23	Disposed	136682104	Direct
2008-08-11	80-Common Stock	S	300	$49.24	Disposed	136681804	Direct
2008-08-11	81-Common Stock	S	800	$49.24	Disposed	136681004	Direct
2008-08-11	82-Common Stock	S	100	$49.25	Disposed	136680904	Direct
2008-08-11	83-Common Stock	S	1300	$49.25	Disposed	136679604	Direct
2008-08-11	84-Common Stock	S	200	$49.26	Disposed	136679404	Direct
2008-08-11	85-Common Stock	S	500	$49.26	Disposed	136678904	Direct
2008-08-11	86-Common Stock	S	300	$49.27	Disposed	136678604	Direct
2008-08-11	87-Common Stock	S	1600	$49.27	Disposed	136677004	Direct
2008-08-11	88-Common Stock	S	700	$49.28	Disposed	136676304	Direct
2008-08-11	89-Common Stock	S	100	$49.29	Disposed	136676204	Direct
2008-08-11	90-Common Stock	S	1000	$49.29	Disposed	136675204	Direct