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	1-Common Stock	S	500	$48.34	Disposed	136740304	Direct
2008-08-11	2-Common Stock	S	46	$48.43	Disposed	136740258	Direct
2008-08-11	3-Common Stock	S	154	$48.44	Disposed	136740104	Direct
2008-08-11	4-Common Stock	S	400	$48.47	Disposed	136739704	Direct
2008-08-11	5-Common Stock	S	300	$48.48	Disposed	136739404	Direct
2008-08-11	6-Common Stock	S	500	$48.51	Disposed	136738904	Direct
2008-08-11	7-Common Stock	S	400	$48.51	Disposed	136738504	Direct
2008-08-11	8-Common Stock	S	100	$48.53	Disposed	136738404	Direct
2008-08-11	9-Common Stock	S	300	$48.57	Disposed	136738104	Direct
2008-08-11	10-Common Stock	S	400	$48.58	Disposed	136737704	Direct
2008-08-11	11-Common Stock	S	300	$48.59	Disposed	136737404	Direct
2008-08-11	12-Common Stock	S	200	$48.60	Disposed	136737204	Direct
2008-08-11	13-Common Stock	S	300	$48.61	Disposed	136736904	Direct
2008-08-11	14-Common Stock	S	100	$48.62	Disposed	136736804	Direct
2008-08-11	15-Common Stock	S	100	$48.64	Disposed	136736704	Direct
2008-08-11	16-Common Stock	S	200	$48.65	Disposed	136736504	Direct
2008-08-11	17-Common Stock	S	500	$48.65	Disposed	136736004	Direct
2008-08-11	18-Common Stock	S	300	$48.66	Disposed	136735704	Direct
2008-08-11	19-Common Stock	S	200	$48.66	Disposed	136735504	Direct
2008-08-11	20-Common Stock	S	1300	$48.67	Disposed	136734204	Direct
2008-08-11	21-Common Stock	S	500	$48.68	Disposed	136733704	Direct
2008-08-11	22-Common Stock	S	200	$48.69	Disposed	136733504	Direct
2008-08-11	23-Common Stock	S	100	$48.69	Disposed	136733404	Direct
2008-08-11	24-Common Stock	S	100	$48.70	Disposed	136733304	Direct
2008-08-11	25-Common Stock	S	800	$48.70	Disposed	136732504	Direct
2008-08-11	26-Common Stock	S	200	$48.71	Disposed	136732304	Direct
2008-08-11	27-Common Stock	S	400	$48.72	Disposed	136731904	Direct
2008-08-11	28-Common Stock	S	100	$48.74	Disposed	136731804	Direct
2008-08-11	29-Common Stock	S	400	$48.77	Disposed	136731404	Direct
2008-08-11	30-Common Stock	S	600	$48.80	Disposed	136730804	Direct