ELI LILLY & Co — Director's Dealing 2008

Aug 7, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-08-06

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-06	31-Common Stock	S	100	$47.67	Disposed	136918221	Direct
2008-08-06	32-Common Stock	S	700	$47.67	Disposed	136917521	Direct
2008-08-06	33-Common Stock	S	200	$47.68	Disposed	136917321	Direct
2008-08-06	34-Common Stock	S	817	$47.68	Disposed	136916504	Direct
2008-08-06	35-Common Stock	S	1300	$47.69	Disposed	136915204	Direct
2008-08-06	36-Common Stock	S	200	$47.70	Disposed	136915004	Direct
2008-08-06	37-Common Stock	S	500	$47.70	Disposed	136914504	Direct
2008-08-06	38-Common Stock	S	900	$47.71	Disposed	136913604	Direct
2008-08-06	39-Common Stock	S	600	$47.72	Disposed	136913004	Direct
2008-08-06	40-Common Stock	S	200	$47.73	Disposed	136912804	Direct
2008-08-06	41-Common Stock	S	900	$47.74	Disposed	136911904	Direct
2008-08-06	42-Common Stock	S	1200	$47.75	Disposed	136910704	Direct
2008-08-06	43-Common Stock	S	100	$47.76	Disposed	136910604	Direct
2008-08-06	44-Common Stock	S	700	$47.76	Disposed	136909904	Direct
2008-08-06	45-Common Stock	S	1532	$47.77	Disposed	136908372	Direct
2008-08-06	46-Common Stock	S	768	$47.78	Disposed	136907604	Direct
2008-08-06	47-Common Stock	S	800	$47.79	Disposed	136906804	Direct
2008-08-06	48-Common Stock	S	900	$47.80	Disposed	136905904	Direct
2008-08-06	49-Common Stock	S	100	$47.81	Disposed	136905804	Direct
2008-08-06	50-Common Stock	S	200	$47.81	Disposed	136905604	Direct
2008-08-06	51-Common Stock	S	800	$47.83	Disposed	136904804	Direct
2008-08-06	52-Common Stock	S	200	$47.84	Disposed	136904604	Direct
2008-08-06	53-Common Stock	S	500	$47.86	Disposed	136904104	Direct
2008-08-06	54-Common Stock	S	100	$47.87	Disposed	136904004	Direct
2008-08-06	55-Common Stock	S	200	$47.87	Disposed	136903804	Direct
2008-08-06	56-Common Stock	S	500	$47.88	Disposed	136903304	Direct
2008-08-06	57-Common Stock	S	300	$47.89	Disposed	136903004	Direct
2008-08-06	58-Common Stock	S	100	$47.90	Disposed	136902904	Direct
2008-08-06	59-Common Stock	S	400	$47.91	Disposed	136902504	Direct
2008-08-06	60-Common Stock	S	300	$47.95	Disposed	136902204	Direct