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	1-Common Stock	S	100	$48.04	Disposed	137405704	Direct
2008-07-29	2-Common Stock	S	400	$48.04	Disposed	137405304	Direct
2008-07-29	3-Common Stock	S	500	$48.06	Disposed	137404804	Direct
2008-07-29	4-Common Stock	S	500	$48.07	Disposed	137404304	Direct
2008-07-29	5-Common Stock	S	500	$48.08	Disposed	137403804	Direct
2008-07-29	6-Common Stock	S	1100	$48.08	Disposed	137402704	Direct
2008-07-29	7-Common Stock	S	100	$48.09	Disposed	137402604	Direct
2008-07-29	8-Common Stock	S	900	$48.10	Disposed	137401704	Direct
2008-07-29	9-Common Stock	S	1300	$48.11	Disposed	137400404	Direct
2008-07-29	10-Common Stock	S	705	$48.12	Disposed	137399699	Direct
2008-07-29	11-Common Stock	S	700	$48.13	Disposed	137398999	Direct
2008-07-29	12-Common Stock	S	2700	$48.13	Disposed	137396299	Direct
2008-07-29	13-Common Stock	S	1600	$48.14	Disposed	137394699	Direct
2008-07-29	14-Common Stock	S	1695	$48.15	Disposed	137393004	Direct
2008-07-29	15-Common Stock	S	1500	$48.16	Disposed	137391504	Direct
2008-07-29	16-Common Stock	S	900	$48.17	Disposed	137390604	Direct
2008-07-29	17-Common Stock	S	1400	$48.18	Disposed	137389204	Direct
2008-07-29	18-Common Stock	S	1586	$48.19	Disposed	137387618	Direct
2008-07-29	19-Common Stock	S	200	$48.20	Disposed	137387418	Direct
2008-07-29	20-Common Stock	S	2400	$48.20	Disposed	137385018	Direct
2008-07-29	21-Common Stock	S	2714	$48.21	Disposed	137382304	Direct
2008-07-29	22-Common Stock	S	200	$48.22	Disposed	137382104	Direct
2008-07-29	23-Common Stock	S	1085	$48.22	Disposed	137381019	Direct
2008-07-29	24-Common Stock	S	300	$48.23	Disposed	137380719	Direct
2008-07-29	25-Common Stock	S	1815	$48.23	Disposed	137378904	Direct
2008-07-29	26-Common Stock	S	200	$48.24	Disposed	137378704	Direct
2008-07-29	27-Common Stock	S	2600	$48.24	Disposed	137376104	Direct
2008-07-29	28-Common Stock	S	1600	$48.25	Disposed	137374504	Direct
2008-07-29	29-Common Stock	S	200	$48.26	Disposed	137374304	Direct
2008-07-29	30-Common Stock	S	9900	$48.26	Disposed	137364404	Direct