ELI LILLY & Co — Director's Dealing 2008

Aug 6, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-08-05

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-05	31-Common Stock	S	300	$47.47	Disposed	137053204	Direct
2008-08-05	32-Common Stock	S	1600	$47.47	Disposed	137051604	Direct
2008-08-05	33-Common Stock	S	100	$47.48	Disposed	137051504	Direct
2008-08-05	34-Common Stock	S	3757	$47.48	Disposed	137047747	Direct
2008-08-05	35-Common Stock	S	243	$47.49	Disposed	137047504	Direct
2008-08-05	36-Common Stock	S	2800	$47.49	Disposed	137044704	Direct
2008-08-05	37-Common Stock	S	300	$47.50	Disposed	137044404	Direct
2008-08-05	38-Common Stock	S	2900	$47.50	Disposed	137041504	Direct
2008-08-05	39-Common Stock	S	200	$47.51	Disposed	137041304	Direct
2008-08-05	40-Common Stock	S	900	$47.51	Disposed	137040404	Direct
2008-08-05	41-Common Stock	S	1200	$47.52	Disposed	137039204	Direct
2008-08-05	42-Common Stock	S	1400	$47.53	Disposed	137037804	Direct
2008-08-05	43-Common Stock	S	1400	$47.54	Disposed	137036404	Direct
2008-08-05	44-Common Stock	S	1100	$47.55	Disposed	137035304	Direct
2008-08-05	45-Common Stock	S	2300	$47.56	Disposed	137033004	Direct
2008-08-05	46-Common Stock	S	400	$47.57	Disposed	137032604	Direct
2008-08-05	47-Common Stock	S	1600	$47.57	Disposed	137031004	Direct
2008-08-05	48-Common Stock	S	100	$47.58	Disposed	137030904	Direct
2008-08-05	49-Common Stock	S	2700	$47.58	Disposed	137028204	Direct
2008-08-05	50-Common Stock	S	1800	$47.59	Disposed	137026404	Direct
2008-08-05	51-Common Stock	S	100	$47.60	Disposed	137026304	Direct
2008-08-05	52-Common Stock	S	1000	$47.60	Disposed	137025304	Direct
2008-08-05	53-Common Stock	S	1000	$47.61	Disposed	137024304	Direct
2008-08-05	54-Common Stock	S	600	$47.62	Disposed	137023704	Direct
2008-08-05	55-Common Stock	S	500	$47.64	Disposed	137023204	Direct
2008-08-05	56-Common Stock	S	300	$47.64	Disposed	137022904	Direct
2008-08-05	57-Common Stock	S	700	$47.65	Disposed	137022204	Direct
2008-08-05	58-Common Stock	S	4400	$47.66	Disposed	137017804	Direct
2008-08-05	59-Common Stock	S	500	$47.67	Disposed	137017304	Direct
2008-08-05	60-Common Stock	S	3200	$47.67	Disposed	137014104	Direct