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	31-Common Stock	S	400	$47.15	Disposed	137277504	Direct
2008-07-30	32-Common Stock	S	100	$47.16	Disposed	137277404	Direct
2008-07-30	33-Common Stock	S	700	$47.16	Disposed	137276704	Direct
2008-07-30	34-Common Stock	S	300	$47.17	Disposed	137276404	Direct
2008-07-30	35-Common Stock	S	1300	$47.17	Disposed	137275104	Direct
2008-07-30	36-Common Stock	S	600	$47.18	Disposed	137274504	Direct
2008-07-30	37-Common Stock	S	200	$47.18	Disposed	137274304	Direct
2008-07-30	38-Common Stock	S	500	$47.19	Disposed	137273804	Direct
2008-07-30	39-Common Stock	S	400	$47.19	Disposed	137273404	Direct
2008-07-30	40-Common Stock	S	200	$47.20	Disposed	137273204	Direct
2008-07-30	41-Common Stock	S	700	$47.20	Disposed	137272504	Direct
2008-07-30	42-Common Stock	S	100	$47.21	Disposed	137272404	Direct
2008-07-30	43-Common Stock	S	200	$47.22	Disposed	137272204	Direct
2008-07-30	44-Common Stock	S	600	$47.22	Disposed	137271604	Direct
2008-07-30	45-Common Stock	S	100	$47.23	Disposed	137271504	Direct
2008-07-30	46-Common Stock	S	200	$47.23	Disposed	137271304	Direct
2008-07-30	47-Common Stock	S	100	$47.24	Disposed	137271204	Direct
2008-07-30	48-Common Stock	S	300	$47.24	Disposed	137270904	Direct
2008-07-30	49-Common Stock	S	300	$47.25	Disposed	137270604	Direct
2008-07-30	50-Common Stock	S	200	$47.26	Disposed	137270404	Direct
2008-07-30	51-Common Stock	S	300	$47.26	Disposed	137270104	Direct
2008-07-30	52-Common Stock	S	300	$47.27	Disposed	137269804	Direct
2008-07-30	53-Common Stock	S	400	$47.28	Disposed	137269404	Direct
2008-07-30	54-Common Stock	S	400	$47.28	Disposed	137269004	Direct
2008-07-30	55-Common Stock	S	300	$47.29	Disposed	137268704	Direct
2008-07-30	56-Common Stock	S	600	$47.29	Disposed	137268104	Direct
2008-07-30	57-Common Stock	S	300	$47.30	Disposed	137267804	Direct
2008-07-30	58-Common Stock	S	200	$47.30	Disposed	137267604	Direct
2008-07-30	59-Common Stock	S	1000	$47.31	Disposed	137266604	Direct
2008-07-30	60-Common Stock	S	200	$47.31	Disposed	137266404	Direct