ELI LILLY & Co — Director's Dealing 2008

Jul 31, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-07-30

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-07-30	211-Common Stock	S	200	$48.99	Disposed	137208304	Direct
2008-07-30	212-Common Stock	S	500	$48.99	Disposed	137207804	Direct
2008-07-30	213-Common Stock	S	200	$49.01	Disposed	137207604	Direct
2008-07-30	214-Common Stock	S	200	$49.03	Disposed	137207404	Direct
2008-07-30	215-Common Stock	S	300	$49.04	Disposed	137207104	Direct
2008-07-30	216-Common Stock	S	200	$49.05	Disposed	137206904	Direct
2008-07-30	217-Common Stock	S	300	$49.05	Disposed	137206604	Direct
2008-07-30	218-Common Stock	S	200	$49.06	Disposed	137206404	Direct
2008-07-30	219-Common Stock	S	200	$49.06	Disposed	137206204	Direct
2008-07-30	220-Common Stock	S	200	$49.07	Disposed	137206004	Direct
2008-07-30	221-Common Stock	S	100	$49.08	Disposed	137205904	Direct
2008-07-30	222-Common Stock	S	100	$49.10	Disposed	137205804	Direct