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	1-Common Stock	S	500	$47.19	Disposed	137205304	Direct
2008-08-04	2-Common Stock	S	900	$47.20	Disposed	137204404	Direct
2008-08-04	3-Common Stock	S	500	$47.21	Disposed	137203904	Direct
2008-08-04	4-Common Stock	S	300	$47.22	Disposed	137203604	Direct
2008-08-04	5-Common Stock	S	200	$47.23	Disposed	137203404	Direct
2008-08-04	6-Common Stock	S	4100	$47.23	Disposed	137199304	Direct
2008-08-04	7-Common Stock	S	3410	$47.24	Disposed	137195894	Direct
2008-08-04	8-Common Stock	S	100	$47.25	Disposed	137195794	Direct
2008-08-04	9-Common Stock	S	5190	$47.25	Disposed	137190604	Direct
2008-08-04	10-Common Stock	S	1400	$47.26	Disposed	137189204	Direct
2008-08-04	11-Common Stock	S	100	$47.27	Disposed	137189104	Direct
2008-08-04	12-Common Stock	S	3000	$47.27	Disposed	137186104	Direct
2008-08-04	13-Common Stock	S	300	$47.28	Disposed	137185804	Direct
2008-08-04	14-Common Stock	S	1900	$47.28	Disposed	137183904	Direct
2008-08-04	15-Common Stock	S	100	$47.29	Disposed	137183804	Direct
2008-08-04	16-Common Stock	S	3500	$47.29	Disposed	137180304	Direct
2008-08-04	17-Common Stock	S	400	$47.30	Disposed	137179904	Direct
2008-08-04	18-Common Stock	S	5580	$47.30	Disposed	137174324	Direct
2008-08-04	19-Common Stock	S	100	$47.31	Disposed	137174224	Direct
2008-08-04	20-Common Stock	S	5998	$47.31	Disposed	137168226	Direct
2008-08-04	21-Common Stock	S	5122	$47.32	Disposed	137163104	Direct
2008-08-04	22-Common Stock	S	100	$47.33	Disposed	137163004	Direct
2008-08-04	23-Common Stock	S	2800	$47.33	Disposed	137160204	Direct
2008-08-04	24-Common Stock	S	300	$47.34	Disposed	137159904	Direct
2008-08-04	25-Common Stock	S	1400	$47.34	Disposed	137158504	Direct
2008-08-04	26-Common Stock	S	700	$47.35	Disposed	137157804	Direct
2008-08-04	27-Common Stock	S	1700	$47.36	Disposed	137156104	Direct
2008-08-04	28-Common Stock	S	100	$47.37	Disposed	137156004	Direct
2008-08-04	29-Common Stock	S	7200	$47.37	Disposed	137148804	Direct
2008-08-04	30-Common Stock	S	500	$47.38	Disposed	137148304	Direct