ELI LILLY & Co — Director's Dealing 2008

Aug 5, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-08-04

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-04	31-Common Stock	S	1918	$47.38	Disposed	137146386	Direct
2008-08-04	32-Common Stock	S	1000	$47.39	Disposed	137145386	Direct
2008-08-04	33-Common Stock	S	5300	$47.39	Disposed	137140086	Direct
2008-08-04	34-Common Stock	S	300	$47.40	Disposed	137139786	Direct
2008-08-04	35-Common Stock	S	2912	$47.40	Disposed	137136874	Direct
2008-08-04	36-Common Stock	S	400	$47.41	Disposed	137136474	Direct
2008-08-04	37-Common Stock	S	2770	$47.41	Disposed	137133704	Direct
2008-08-04	38-Common Stock	S	200	$47.42	Disposed	137133504	Direct
2008-08-04	39-Common Stock	S	900	$47.42	Disposed	137132604	Direct
2008-08-04	40-Common Stock	S	3089	$47.43	Disposed	137129515	Direct
2008-08-04	41-Common Stock	S	100	$47.44	Disposed	137129415	Direct
2008-08-04	42-Common Stock	S	711	$47.44	Disposed	137128704	Direct
2008-08-04	43-Common Stock	S	3700	$47.45	Disposed	137125004	Direct
2008-08-04	44-Common Stock	S	500	$47.46	Disposed	137124504	Direct
2008-08-04	45-Common Stock	S	4400	$47.46	Disposed	137120104	Direct
2008-08-04	46-Common Stock	S	400	$47.47	Disposed	137119704	Direct
2008-08-04	47-Common Stock	S	2300	$47.47	Disposed	137117404	Direct
2008-08-04	48-Common Stock	S	100	$47.48	Disposed	137117304	Direct
2008-08-04	49-Common Stock	S	4300	$47.48	Disposed	137113004	Direct
2008-08-04	50-Common Stock	S	400	$47.49	Disposed	137112604	Direct
2008-08-04	51-Common Stock	S	5077	$47.49	Disposed	137107527	Direct
2008-08-04	52-Common Stock	S	200	$47.50	Disposed	137107327	Direct
2008-08-04	53-Common Stock	S	4123	$47.50	Disposed	137103204	Direct
2008-08-04	54-Common Stock	S	300	$47.51	Disposed	137102904	Direct
2008-08-04	55-Common Stock	S	4800	$47.51	Disposed	137098104	Direct
2008-08-04	56-Common Stock	S	100	$47.52	Disposed	137098004	Direct
2008-08-04	57-Common Stock	S	1300	$47.52	Disposed	137096704	Direct
2008-08-04	58-Common Stock	S	100	$47.53	Disposed	137096604	Direct
2008-08-04	59-Common Stock	S	700	$47.53	Disposed	137095904	Direct
2008-08-04	60-Common Stock	S	2500	$47.54	Disposed	137093404	Direct