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	151-Common Stock	S	500	$48.41	Disposed	137224504	Direct
2008-07-30	152-Common Stock	S	100	$48.42	Disposed	137224404	Direct
2008-07-30	153-Common Stock	S	200	$48.43	Disposed	137224204	Direct
2008-07-30	154-Common Stock	S	100	$48.44	Disposed	137224104	Direct
2008-07-30	155-Common Stock	S	100	$48.44	Disposed	137224004	Direct
2008-07-30	156-Common Stock	S	400	$48.46	Disposed	137223604	Direct
2008-07-30	157-Common Stock	S	400	$48.46	Disposed	137223204	Direct
2008-07-30	158-Common Stock	S	300	$48.47	Disposed	137222904	Direct
2008-07-30	159-Common Stock	S	100	$48.48	Disposed	137222804	Direct
2008-07-30	160-Common Stock	S	700	$48.48	Disposed	137222104	Direct
2008-07-30	161-Common Stock	S	600	$48.49	Disposed	137221504	Direct
2008-07-30	162-Common Stock	S	500	$48.49	Disposed	137221004	Direct
2008-07-30	163-Common Stock	S	100	$48.50	Disposed	137220904	Direct
2008-07-30	164-Common Stock	S	300	$48.51	Disposed	137220604	Direct
2008-07-30	165-Common Stock	S	500	$48.51	Disposed	137220104	Direct
2008-07-30	166-Common Stock	S	200	$48.53	Disposed	137219904	Direct
2008-07-30	167-Common Stock	S	100	$48.54	Disposed	137219804	Direct
2008-07-30	168-Common Stock	S	340	$48.56	Disposed	137219464	Direct
2008-07-30	169-Common Stock	S	300	$48.59	Disposed	137219164	Direct
2008-07-30	170-Common Stock	S	800	$48.59	Disposed	137218364	Direct
2008-07-30	171-Common Stock	S	200	$48.60	Disposed	137218164	Direct
2008-07-30	172-Common Stock	S	100	$48.60	Disposed	137218064	Direct
2008-07-30	173-Common Stock	S	400	$48.61	Disposed	137217664	Direct
2008-07-30	174-Common Stock	S	500	$48.61	Disposed	137217164	Direct
2008-07-30	175-Common Stock	S	100	$48.62	Disposed	137217064	Direct
2008-07-30	176-Common Stock	S	400	$48.62	Disposed	137216664	Direct
2008-07-30	177-Common Stock	S	400	$48.63	Disposed	137216264	Direct
2008-07-30	178-Common Stock	S	760	$48.64	Disposed	137215504	Direct
2008-07-30	179-Common Stock	S	600	$48.65	Disposed	137214904	Direct
2008-07-30	180-Common Stock	S	100	$48.66	Disposed	137214804	Direct