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	61-Common Stock	S	700	$47.32	Disposed	137265704	Direct
2008-07-30	62-Common Stock	S	200	$47.32	Disposed	137265504	Direct
2008-07-30	63-Common Stock	S	100	$47.33	Disposed	137265404	Direct
2008-07-30	64-Common Stock	S	600	$47.33	Disposed	137264804	Direct
2008-07-30	65-Common Stock	S	100	$47.34	Disposed	137264704	Direct
2008-07-30	66-Common Stock	S	1900	$47.34	Disposed	137262804	Direct
2008-07-30	67-Common Stock	S	1200	$47.35	Disposed	137261604	Direct
2008-07-30	68-Common Stock	S	1100	$47.35	Disposed	137260504	Direct
2008-07-30	69-Common Stock	S	200	$47.36	Disposed	137260304	Direct
2008-07-30	70-Common Stock	S	300	$47.37	Disposed	137260004	Direct
2008-07-30	71-Common Stock	S	1500	$47.37	Disposed	137258504	Direct
2008-07-30	72-Common Stock	S	500	$47.38	Disposed	137258004	Direct
2008-07-30	73-Common Stock	S	2100	$47.38	Disposed	137255904	Direct
2008-07-30	74-Common Stock	S	1100	$47.39	Disposed	137254804	Direct
2008-07-30	75-Common Stock	S	1500	$47.39	Disposed	137253304	Direct
2008-07-30	76-Common Stock	S	200	$47.40	Disposed	137253104	Direct
2008-07-30	77-Common Stock	S	1500	$47.40	Disposed	137251604	Direct
2008-07-30	78-Common Stock	S	1000	$47.41	Disposed	137250604	Direct
2008-07-30	79-Common Stock	S	7600	$47.41	Disposed	137243004	Direct
2008-07-30	80-Common Stock	S	1000	$47.42	Disposed	137242004	Direct
2008-07-30	81-Common Stock	S	1600	$47.42	Disposed	137240404	Direct
2008-07-30	82-Common Stock	S	300	$47.43	Disposed	137240104	Direct
2008-07-30	83-Common Stock	S	200	$47.43	Disposed	137239904	Direct
2008-07-30	84-Common Stock	S	400	$47.44	Disposed	137239504	Direct
2008-07-30	85-Common Stock	S	300	$47.44	Disposed	137239204	Direct
2008-07-30	86-Common Stock	S	500	$47.45	Disposed	137238704	Direct
2008-07-30	87-Common Stock	S	100	$47.46	Disposed	137238604	Direct
2008-07-30	88-Common Stock	S	400	$47.46	Disposed	137238204	Direct
2008-07-30	89-Common Stock	S	100	$47.48	Disposed	137238104	Direct
2008-07-30	90-Common Stock	S	200	$47.49	Disposed	137237904	Direct