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	1-Common Stock	S	100	$47.96	Disposed	136855704	Direct
2008-08-08	2-Common Stock	S	100	$48.01	Disposed	136855604	Direct
2008-08-08	3-Common Stock	S	300	$48.02	Disposed	136855304	Direct
2008-08-08	4-Common Stock	S	400	$48.03	Disposed	136854904	Direct
2008-08-08	5-Common Stock	S	300	$48.06	Disposed	136854604	Direct
2008-08-08	6-Common Stock	S	100	$48.08	Disposed	136854504	Direct
2008-08-08	7-Common Stock	S	500	$48.09	Disposed	136854004	Direct
2008-08-08	8-Common Stock	S	300	$48.10	Disposed	136853704	Direct
2008-08-08	9-Common Stock	S	200	$48.11	Disposed	136853504	Direct
2008-08-08	10-Common Stock	S	400	$48.12	Disposed	136853104	Direct
2008-08-08	11-Common Stock	S	200	$48.14	Disposed	136852904	Direct
2008-08-08	12-Common Stock	S	300	$48.15	Disposed	136852604	Direct
2008-08-08	13-Common Stock	S	400	$48.17	Disposed	136852204	Direct
2008-08-08	14-Common Stock	S	500	$48.17	Disposed	136851704	Direct
2008-08-08	15-Common Stock	S	3700	$48.18	Disposed	136848004	Direct
2008-08-08	16-Common Stock	S	100	$48.20	Disposed	136847904	Direct
2008-08-08	17-Common Stock	S	1800	$48.20	Disposed	136846104	Direct
2008-08-08	18-Common Stock	S	1100	$48.21	Disposed	136845004	Direct
2008-08-08	19-Common Stock	S	100	$48.22	Disposed	136844904	Direct
2008-08-08	20-Common Stock	S	700	$48.22	Disposed	136844204	Direct
2008-08-08	21-Common Stock	S	100	$48.23	Disposed	136844104	Direct
2008-08-08	22-Common Stock	S	600	$48.23	Disposed	136843504	Direct
2008-08-08	23-Common Stock	S	100	$48.24	Disposed	136843404	Direct
2008-08-08	24-Common Stock	S	500	$48.24	Disposed	136842904	Direct
2008-08-08	25-Common Stock	S	1800	$48.25	Disposed	136841104	Direct
2008-08-08	26-Common Stock	S	100	$48.26	Disposed	136841004	Direct
2008-08-08	27-Common Stock	S	1100	$48.26	Disposed	136839904	Direct
2008-08-08	28-Common Stock	S	2049	$48.27	Disposed	136837855	Direct
2008-08-08	29-Common Stock	S	100	$48.28	Disposed	136837755	Direct
2008-08-08	30-Common Stock	S	1551	$48.28	Disposed	136836204	Direct