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	31-Common Stock	S	500	$48.27	Disposed	137363904	Direct
2008-07-29	32-Common Stock	S	3100	$48.27	Disposed	137360804	Direct
2008-07-29	33-Common Stock	S	600	$48.28	Disposed	137360204	Direct
2008-07-29	34-Common Stock	S	6074	$48.28	Disposed	137354130	Direct
2008-07-29	35-Common Stock	S	100	$48.29	Disposed	137354030	Direct
2008-07-29	36-Common Stock	S	4602	$48.29	Disposed	137349428	Direct
2008-07-29	37-Common Stock	S	700	$48.30	Disposed	137348728	Direct
2008-07-29	38-Common Stock	S	6956	$48.30	Disposed	137341772	Direct
2008-07-29	39-Common Stock	S	1500	$48.31	Disposed	137340272	Direct
2008-07-29	40-Common Stock	S	1698	$48.31	Disposed	137338574	Direct
2008-07-29	41-Common Stock	S	500	$48.32	Disposed	137338074	Direct
2008-07-29	42-Common Stock	S	2800	$48.32	Disposed	137335274	Direct
2008-07-29	43-Common Stock	S	500	$48.33	Disposed	137334774	Direct
2008-07-29	44-Common Stock	S	1770	$48.33	Disposed	137333004	Direct
2008-07-29	45-Common Stock	S	800	$48.34	Disposed	137332204	Direct
2008-07-29	46-Common Stock	S	1700	$48.34	Disposed	137330504	Direct
2008-07-29	47-Common Stock	S	900	$48.35	Disposed	137329604	Direct
2008-07-29	48-Common Stock	S	1500	$48.35	Disposed	137328104	Direct
2008-07-29	49-Common Stock	S	600	$48.36	Disposed	137327504	Direct
2008-07-29	50-Common Stock	S	400	$48.36	Disposed	137327104	Direct
2008-07-29	51-Common Stock	S	1300	$48.37	Disposed	137325804	Direct
2008-07-29	52-Common Stock	S	900	$48.37	Disposed	137324904	Direct
2008-07-29	53-Common Stock	S	1400	$48.38	Disposed	137323504	Direct
2008-07-29	54-Common Stock	S	1400	$48.38	Disposed	137322104	Direct
2008-07-29	55-Common Stock	S	900	$48.39	Disposed	137321204	Direct
2008-07-29	56-Common Stock	S	1400	$48.39	Disposed	137319804	Direct
2008-07-29	57-Common Stock	S	600	$48.40	Disposed	137319204	Direct
2008-07-29	58-Common Stock	S	400	$48.40	Disposed	137318804	Direct
2008-07-29	59-Common Stock	S	1300	$48.41	Disposed	137317504	Direct
2008-07-29	60-Common Stock	S	400	$48.41	Disposed	137317104	Direct