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	1-Common Stock	S	500	$47.24	Disposed	137085304	Direct
2008-08-05	2-Common Stock	S	100	$47.25	Disposed	137085204	Direct
2008-08-05	3-Common Stock	S	200	$47.25	Disposed	137085004	Direct
2008-08-05	4-Common Stock	S	200	$47.27	Disposed	137084804	Direct
2008-08-05	5-Common Stock	S	1100	$47.27	Disposed	137083704	Direct
2008-08-05	6-Common Stock	S	900	$47.28	Disposed	137082804	Direct
2008-08-05	7-Common Stock	S	1200	$47.29	Disposed	137081604	Direct
2008-08-05	8-Common Stock	S	1700	$47.30	Disposed	137079904	Direct
2008-08-05	9-Common Stock	S	500	$47.31	Disposed	137079404	Direct
2008-08-05	10-Common Stock	S	1900	$47.31	Disposed	137077504	Direct
2008-08-05	11-Common Stock	S	1200	$47.32	Disposed	137076304	Direct
2008-08-05	12-Common Stock	S	800	$47.33	Disposed	137075504	Direct
2008-08-05	13-Common Stock	S	1000	$47.34	Disposed	137074504	Direct
2008-08-05	14-Common Stock	S	1600	$47.35	Disposed	137072904	Direct
2008-08-05	15-Common Stock	S	1400	$47.36	Disposed	137071504	Direct
2008-08-05	16-Common Stock	S	100	$47.37	Disposed	137071404	Direct
2008-08-05	17-Common Stock	S	800	$47.37	Disposed	137070604	Direct
2008-08-05	18-Common Stock	S	100	$47.38	Disposed	137070504	Direct
2008-08-05	19-Common Stock	S	1600	$47.38	Disposed	137068904	Direct
2008-08-05	20-Common Stock	S	200	$47.39	Disposed	137068704	Direct
2008-08-05	21-Common Stock	S	2100	$47.39	Disposed	137066604	Direct
2008-08-05	22-Common Stock	S	100	$47.40	Disposed	137066504	Direct
2008-08-05	23-Common Stock	S	2600	$47.40	Disposed	137063904	Direct
2008-08-05	24-Common Stock	S	700	$47.41	Disposed	137063204	Direct
2008-08-05	25-Common Stock	S	400	$47.42	Disposed	137062804	Direct
2008-08-05	26-Common Stock	S	2000	$47.42	Disposed	137060804	Direct
2008-08-05	27-Common Stock	S	2000	$47.43	Disposed	137058804	Direct
2008-08-05	28-Common Stock	S	700	$47.44	Disposed	137058104	Direct
2008-08-05	29-Common Stock	S	2000	$47.45	Disposed	137056104	Direct
2008-08-05	30-Common Stock	S	2600	$47.46	Disposed	137053504	Direct