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	31-Common Stock	S	200	$48.84	Disposed	136730604	Direct
2008-08-11	32-Common Stock	S	200	$48.85	Disposed	136730404	Direct
2008-08-11	33-Common Stock	S	300	$48.86	Disposed	136730104	Direct
2008-08-11	34-Common Stock	S	200	$48.87	Disposed	136729904	Direct
2008-08-11	35-Common Stock	S	1000	$48.88	Disposed	136728904	Direct
2008-08-11	36-Common Stock	S	700	$48.89	Disposed	136728204	Direct
2008-08-11	37-Common Stock	S	500	$48.90	Disposed	136727704	Direct
2008-08-11	38-Common Stock	S	1900	$48.90	Disposed	136725804	Direct
2008-08-11	39-Common Stock	S	200	$48.91	Disposed	136725604	Direct
2008-08-11	40-Common Stock	S	500	$48.92	Disposed	136725104	Direct
2008-08-11	41-Common Stock	S	600	$48.93	Disposed	136724504	Direct
2008-08-11	42-Common Stock	S	400	$48.94	Disposed	136724104	Direct
2008-08-11	43-Common Stock	S	1800	$48.95	Disposed	136722304	Direct
2008-08-11	44-Common Stock	S	900	$48.96	Disposed	136721404	Direct
2008-08-11	45-Common Stock	S	300	$48.97	Disposed	136721104	Direct
2008-08-11	46-Common Stock	S	1666	$48.97	Disposed	136719438	Direct
2008-08-11	47-Common Stock	S	300	$48.98	Disposed	136719138	Direct
2008-08-11	48-Common Stock	S	4334	$48.98	Disposed	136714804	Direct
2008-08-11	49-Common Stock	S	1800	$48.99	Disposed	136713004	Direct
2008-08-11	50-Common Stock	S	100	$49.00	Disposed	136712904	Direct
2008-08-11	51-Common Stock	S	1300	$49.00	Disposed	136711604	Direct
2008-08-11	52-Common Stock	S	100	$49.01	Disposed	136711504	Direct
2008-08-11	53-Common Stock	S	2600	$49.01	Disposed	136708904	Direct
2008-08-11	54-Common Stock	S	100	$49.02	Disposed	136708804	Direct
2008-08-11	55-Common Stock	S	900	$49.02	Disposed	136707904	Direct
2008-08-11	56-Common Stock	S	1800	$49.03	Disposed	136706104	Direct
2008-08-11	57-Common Stock	S	100	$49.04	Disposed	136706004	Direct
2008-08-11	58-Common Stock	S	1400	$49.04	Disposed	136704604	Direct
2008-08-11	59-Common Stock	S	4600	$49.05	Disposed	136700004	Direct
2008-08-11	60-Common Stock	S	900	$49.06	Disposed	136699104	Direct