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	91-Common Stock	S	300	$47.49	Disposed	137237604	Direct
2008-07-30	92-Common Stock	S	100	$47.50	Disposed	137237504	Direct
2008-07-30	93-Common Stock	S	200	$47.50	Disposed	137237304	Direct
2008-07-30	94-Common Stock	S	100	$47.54	Disposed	137237204	Direct
2008-07-30	95-Common Stock	S	100	$47.55	Disposed	137237104	Direct
2008-07-30	96-Common Stock	S	200	$47.58	Disposed	137236904	Direct
2008-07-30	97-Common Stock	S	200	$47.59	Disposed	137236704	Direct
2008-07-30	98-Common Stock	S	200	$47.60	Disposed	137236504	Direct
2008-07-30	99-Common Stock	S	200	$47.63	Disposed	137236304	Direct
2008-07-30	100-Common Stock	S	100	$47.65	Disposed	137236204	Direct
2008-07-30	101-Common Stock	S	100	$47.65	Disposed	137236104	Direct
2008-07-30	102-Common Stock	S	100	$47.66	Disposed	137236004	Direct
2008-07-30	103-Common Stock	S	100	$47.66	Disposed	137235904	Direct
2008-07-30	104-Common Stock	S	100	$47.75	Disposed	137235804	Direct
2008-07-30	105-Common Stock	S	100	$47.77	Disposed	137235704	Direct
2008-07-30	106-Common Stock	S	100	$47.81	Disposed	137235604	Direct
2008-07-30	107-Common Stock	S	100	$47.86	Disposed	137235504	Direct
2008-07-30	108-Common Stock	S	200	$47.86	Disposed	137235304	Direct
2008-07-30	109-Common Stock	S	100	$47.88	Disposed	137235204	Direct
2008-07-30	110-Common Stock	S	200	$47.89	Disposed	137235004	Direct
2008-07-30	111-Common Stock	S	200	$47.91	Disposed	137234804	Direct
2008-07-30	112-Common Stock	S	100	$47.92	Disposed	137234704	Direct
2008-07-30	113-Common Stock	S	500	$47.92	Disposed	137234204	Direct
2008-07-30	114-Common Stock	S	200	$47.93	Disposed	137234004	Direct
2008-07-30	115-Common Stock	S	200	$47.94	Disposed	137233804	Direct
2008-07-30	116-Common Stock	S	800	$47.95	Disposed	137233004	Direct
2008-07-30	117-Common Stock	S	200	$47.95	Disposed	137232804	Direct
2008-07-30	118-Common Stock	S	300	$47.97	Disposed	137232504	Direct
2008-07-30	119-Common Stock	S	200	$47.99	Disposed	137232304	Direct
2008-07-30	120-Common Stock	S	100	$48.01	Disposed	137232204	Direct