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	181-Common Stock	S	300	$48.67	Disposed	137214504	Direct
2008-07-30	182-Common Stock	S	200	$48.68	Disposed	137214304	Direct
2008-07-30	183-Common Stock	S	300	$48.68	Disposed	137214004	Direct
2008-07-30	184-Common Stock	S	200	$48.69	Disposed	137213804	Direct
2008-07-30	185-Common Stock	S	200	$48.69	Disposed	137213604	Direct
2008-07-30	186-Common Stock	S	300	$48.72	Disposed	137213304	Direct
2008-07-30	187-Common Stock	S	100	$48.72	Disposed	137213204	Direct
2008-07-30	188-Common Stock	S	100	$48.75	Disposed	137213104	Direct
2008-07-30	189-Common Stock	S	100	$48.76	Disposed	137213004	Direct
2008-07-30	190-Common Stock	S	100	$48.78	Disposed	137212904	Direct
2008-07-30	191-Common Stock	S	200	$48.79	Disposed	137212704	Direct
2008-07-30	192-Common Stock	S	300	$48.79	Disposed	137212404	Direct
2008-07-30	193-Common Stock	S	500	$48.80	Disposed	137211904	Direct
2008-07-30	194-Common Stock	S	100	$48.81	Disposed	137211804	Direct
2008-07-30	195-Common Stock	S	500	$48.81	Disposed	137211304	Direct
2008-07-30	196-Common Stock	S	200	$48.82	Disposed	137211104	Direct
2008-07-30	197-Common Stock	S	100	$48.83	Disposed	137211004	Direct
2008-07-30	198-Common Stock	S	100	$48.84	Disposed	137210904	Direct
2008-07-30	199-Common Stock	S	100	$48.84	Disposed	137210804	Direct
2008-07-30	200-Common Stock	S	100	$48.86	Disposed	137210704	Direct
2008-07-30	201-Common Stock	S	600	$48.87	Disposed	137210104	Direct
2008-07-30	202-Common Stock	S	100	$48.88	Disposed	137210004	Direct
2008-07-30	203-Common Stock	S	200	$48.89	Disposed	137209804	Direct
2008-07-30	204-Common Stock	S	100	$48.89	Disposed	137209704	Direct
2008-07-30	205-Common Stock	S	200	$48.90	Disposed	137209504	Direct
2008-07-30	206-Common Stock	S	100	$48.92	Disposed	137209404	Direct
2008-07-30	207-Common Stock	S	100	$48.93	Disposed	137209304	Direct
2008-07-30	208-Common Stock	S	200	$48.96	Disposed	137209104	Direct
2008-07-30	209-Common Stock	S	500	$48.96	Disposed	137208604	Direct
2008-07-30	210-Common Stock	S	100	$48.97	Disposed	137208504	Direct