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	61-Common Stock	S	600	$47.68	Disposed	137013504	Direct
2008-08-05	62-Common Stock	S	1200	$47.68	Disposed	137012304	Direct
2008-08-05	63-Common Stock	S	300	$47.69	Disposed	137012004	Direct
2008-08-05	64-Common Stock	S	5000	$47.69	Disposed	137007004	Direct
2008-08-05	65-Common Stock	S	400	$47.70	Disposed	137006604	Direct
2008-08-05	66-Common Stock	S	700	$47.70	Disposed	137005904	Direct
2008-08-05	67-Common Stock	S	200	$47.71	Disposed	137005704	Direct
2008-08-05	68-Common Stock	S	3342	$47.71	Disposed	137002362	Direct
2008-08-05	69-Common Stock	S	800	$47.72	Disposed	137001562	Direct
2008-08-05	70-Common Stock	S	1458	$47.72	Disposed	137000104	Direct
2008-08-05	71-Common Stock	S	900	$47.73	Disposed	136999204	Direct
2008-08-05	72-Common Stock	S	3600	$47.73	Disposed	136995604	Direct
2008-08-05	73-Common Stock	S	3700	$47.74	Disposed	136991904	Direct
2008-08-05	74-Common Stock	S	1000	$47.75	Disposed	136990904	Direct
2008-08-05	75-Common Stock	S	3300	$47.75	Disposed	136987604	Direct
2008-08-05	76-Common Stock	S	700	$47.76	Disposed	136986904	Direct
2008-08-05	77-Common Stock	S	4000	$47.76	Disposed	136982904	Direct
2008-08-05	78-Common Stock	S	600	$47.77	Disposed	136982304	Direct
2008-08-05	79-Common Stock	S	3100	$47.77	Disposed	136979204	Direct
2008-08-05	80-Common Stock	S	200	$47.78	Disposed	136979004	Direct
2008-08-05	81-Common Stock	S	2700	$47.78	Disposed	136976304	Direct
2008-08-05	82-Common Stock	S	6400	$47.79	Disposed	136969904	Direct
2008-08-05	83-Common Stock	S	2100	$47.80	Disposed	136967804	Direct
2008-08-05	84-Common Stock	S	1300	$47.81	Disposed	136966504	Direct
2008-08-05	85-Common Stock	S	100	$47.82	Disposed	136966404	Direct
2008-08-05	86-Common Stock	S	400	$47.82	Disposed	136966004	Direct
2008-08-05	87-Common Stock	S	100	$47.83	Disposed	136965904	Direct
2008-08-05	88-Common Stock	S	2000	$47.83	Disposed	136963904	Direct
2008-08-05	89-Common Stock	S	400	$47.84	Disposed	136963504	Direct
2008-08-05	90-Common Stock	S	2700	$47.84	Disposed	136960804	Direct