ELI LILLY & Co — Director's Dealing 2008

Aug 11, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-08	31-Common Stock	S	2900	$48.29	Disposed	136833304	Direct
2008-08-08	32-Common Stock	S	3000	$48.30	Disposed	136830304	Direct
2008-08-08	33-Common Stock	S	1600	$48.31	Disposed	136828704	Direct
2008-08-08	34-Common Stock	S	1000	$48.32	Disposed	136827704	Direct
2008-08-08	35-Common Stock	S	2100	$48.33	Disposed	136825604	Direct
2008-08-08	36-Common Stock	S	100	$48.34	Disposed	136825504	Direct
2008-08-08	37-Common Stock	S	3700	$48.34	Disposed	136821804	Direct
2008-08-08	38-Common Stock	S	100	$48.35	Disposed	136821704	Direct
2008-08-08	39-Common Stock	S	3800	$48.35	Disposed	136817904	Direct
2008-08-08	40-Common Stock	S	200	$48.36	Disposed	136817704	Direct
2008-08-08	41-Common Stock	S	3433	$48.36	Disposed	136814271	Direct
2008-08-08	42-Common Stock	S	4567	$48.37	Disposed	136809704	Direct
2008-08-08	43-Common Stock	S	200	$48.38	Disposed	136809504	Direct
2008-08-08	44-Common Stock	S	3700	$48.38	Disposed	136805804	Direct
2008-08-08	45-Common Stock	S	5600	$48.39	Disposed	136800204	Direct
2008-08-08	46-Common Stock	S	300	$48.40	Disposed	136799904	Direct
2008-08-08	47-Common Stock	S	3902	$48.40	Disposed	136796002	Direct
2008-08-08	48-Common Stock	S	600	$48.41	Disposed	136795402	Direct
2008-08-08	49-Common Stock	S	3098	$48.41	Disposed	136792304	Direct
2008-08-08	50-Common Stock	S	5142	$48.42	Disposed	136787162	Direct
2008-08-08	51-Common Stock	S	5900	$48.43	Disposed	136781262	Direct
2008-08-08	52-Common Stock	S	100	$48.44	Disposed	136781162	Direct
2008-08-08	53-Common Stock	S	4279	$48.44	Disposed	136776883	Direct
2008-08-08	54-Common Stock	S	300	$48.45	Disposed	136776583	Direct
2008-08-08	55-Common Stock	S	5158	$48.45	Disposed	136771425	Direct
2008-08-08	56-Common Stock	S	400	$48.46	Disposed	136771025	Direct
2008-08-08	57-Common Stock	S	3991	$48.46	Disposed	136767034	Direct
2008-08-08	58-Common Stock	S	100	$48.47	Disposed	136766934	Direct
2008-08-08	59-Common Stock	S	5330	$48.47	Disposed	136761604	Direct
2008-08-08	60-Common Stock	S	2100	$48.48	Disposed	136759504	Direct