ELI LILLY & Co — Director's Dealing 2008

Jul 30, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-07-29

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-07-29	61-Common Stock	S	1200	$48.42	Disposed	137315904	Direct
2008-07-29	62-Common Stock	S	1200	$48.42	Disposed	137314704	Direct
2008-07-29	63-Common Stock	S	300	$48.43	Disposed	137314404	Direct
2008-07-29	64-Common Stock	S	700	$48.43	Disposed	137313704	Direct
2008-07-29	65-Common Stock	S	700	$48.44	Disposed	137313004	Direct
2008-07-29	66-Common Stock	S	1200	$48.45	Disposed	137311804	Direct
2008-07-29	67-Common Stock	S	200	$48.45	Disposed	137311604	Direct
2008-07-29	68-Common Stock	S	1000	$48.46	Disposed	137310604	Direct
2008-07-29	69-Common Stock	S	2000	$48.47	Disposed	137308604	Direct
2008-07-29	70-Common Stock	S	1000	$48.48	Disposed	137307604	Direct
2008-07-29	71-Common Stock	S	1100	$48.49	Disposed	137306504	Direct
2008-07-29	72-Common Stock	S	400	$48.50	Disposed	137306104	Direct
2008-07-29	73-Common Stock	S	600	$48.51	Disposed	137305504	Direct
2008-07-29	74-Common Stock	S	200	$48.51	Disposed	137305304	Direct
2008-07-29	75-Common Stock	S	800	$48.52	Disposed	137304504	Direct
2008-07-29	76-Common Stock	S	100	$48.52	Disposed	137304404	Direct
2008-07-29	77-Common Stock	S	700	$48.53	Disposed	137303704	Direct
2008-07-29	78-Common Stock	S	600	$48.53	Disposed	137303104	Direct
2008-07-29	79-Common Stock	S	700	$48.54	Disposed	137302404	Direct
2008-07-29	80-Common Stock	S	500	$48.55	Disposed	137301904	Direct
2008-07-29	81-Common Stock	S	400	$48.56	Disposed	137301504	Direct
2008-07-29	82-Common Stock	S	200	$48.57	Disposed	137301304	Direct
2008-07-29	83-Common Stock	S	500	$48.57	Disposed	137300804	Direct
2008-07-29	84-Common Stock	S	1000	$48.58	Disposed	137299804	Direct
2008-07-29	85-Common Stock	S	700	$48.58	Disposed	137299104	Direct
2008-07-29	86-Common Stock	S	400	$48.59	Disposed	137298704	Direct
2008-07-29	87-Common Stock	S	500	$48.59	Disposed	137298204	Direct
2008-07-29	88-Common Stock	S	400	$48.60	Disposed	137297804	Direct
2008-07-29	89-Common Stock	S	700	$48.62	Disposed	137297104	Direct
2008-07-29	90-Common Stock	S	200	$48.63	Disposed	137296904	Direct