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	1-Common Stock	S	200	$47.29	Disposed	136945604	Direct
2008-08-06	2-Common Stock	S	500	$47.30	Disposed	136945104	Direct
2008-08-06	3-Common Stock	S	1000	$47.32	Disposed	136944104	Direct
2008-08-06	4-Common Stock	S	300	$47.35	Disposed	136943804	Direct
2008-08-06	5-Common Stock	S	300	$47.36	Disposed	136943504	Direct
2008-08-06	6-Common Stock	S	200	$47.39	Disposed	136943304	Direct
2008-08-06	7-Common Stock	S	200	$47.40	Disposed	136943104	Direct
2008-08-06	8-Common Stock	S	800	$47.41	Disposed	136942304	Direct
2008-08-06	9-Common Stock	S	200	$47.42	Disposed	136942104	Direct
2008-08-06	10-Common Stock	S	300	$47.43	Disposed	136941804	Direct
2008-08-06	11-Common Stock	S	200	$47.44	Disposed	136941604	Direct
2008-08-06	12-Common Stock	S	500	$47.45	Disposed	136941104	Direct
2008-08-06	13-Common Stock	S	200	$47.49	Disposed	136940904	Direct
2008-08-06	14-Common Stock	S	900	$47.50	Disposed	136940004	Direct
2008-08-06	15-Common Stock	S	200	$47.51	Disposed	136939804	Direct
2008-08-06	16-Common Stock	S	391	$47.52	Disposed	136939413	Direct
2008-08-06	17-Common Stock	S	800	$47.53	Disposed	136938613	Direct
2008-08-06	18-Common Stock	S	600	$47.54	Disposed	136938013	Direct
2008-08-06	19-Common Stock	S	2700	$47.55	Disposed	136935313	Direct
2008-08-06	20-Common Stock	S	2400	$47.56	Disposed	136932913	Direct
2008-08-06	21-Common Stock	S	2509	$47.57	Disposed	136930404	Direct
2008-08-06	22-Common Stock	S	1200	$47.58	Disposed	136929204	Direct
2008-08-06	23-Common Stock	S	1332	$47.59	Disposed	136927872	Direct
2008-08-06	24-Common Stock	S	700	$47.60	Disposed	136927172	Direct
2008-08-06	25-Common Stock	S	200	$47.61	Disposed	136926972	Direct
2008-08-06	26-Common Stock	S	1473	$47.62	Disposed	136925499	Direct
2008-08-06	27-Common Stock	S	1544	$47.63	Disposed	136923955	Direct
2008-08-06	28-Common Stock	S	2117	$47.64	Disposed	136921838	Direct
2008-08-06	29-Common Stock	S	2117	$47.65	Disposed	136919721	Direct
2008-08-06	30-Common Stock	S	1400	$47.66	Disposed	136918321	Direct