ELI LILLY & Co — Director's Dealing 2008

Jul 29, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2008-07-28

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-07-28	1-Common Stock	S	1550	$47.54	Disposed	137504254	Direct
2008-07-28	2-Common Stock	S	1950	$47.58	Disposed	137502304	Direct
2008-07-28	3-Common Stock	S	100	$47.61	Disposed	137502204	Direct
2008-07-28	4-Common Stock	S	9600	$47.62	Disposed	137492604	Direct
2008-07-28	5-Common Stock	S	100	$47.63	Disposed	137492504	Direct
2008-07-28	6-Common Stock	S	200	$47.65	Disposed	137492304	Direct
2008-07-28	7-Common Stock	S	1000	$47.66	Disposed	137491304	Direct
2008-07-28	8-Common Stock	S	400	$47.67	Disposed	137490904	Direct
2008-07-28	9-Common Stock	S	5000	$47.68	Disposed	137485904	Direct
2008-07-28	10-Common Stock	S	100	$47.69	Disposed	137485804	Direct
2008-07-28	11-Common Stock	S	3086	$47.69	Disposed	137482718	Direct
2008-07-28	12-Common Stock	S	400	$47.70	Disposed	137482318	Direct
2008-07-28	13-Common Stock	S	2300	$47.70	Disposed	137480018	Direct
2008-07-28	14-Common Stock	S	1880	$47.71	Disposed	137478138	Direct
2008-07-28	15-Common Stock	S	4500	$47.72	Disposed	137473638	Direct
2008-07-28	16-Common Stock	S	100	$47.73	Disposed	137473538	Direct
2008-07-28	17-Common Stock	S	5900	$47.73	Disposed	137467638	Direct
2008-07-28	18-Common Stock	S	2200	$47.74	Disposed	137465438	Direct
2008-07-28	19-Common Stock	S	2300	$47.75	Disposed	137463138	Direct
2008-07-28	20-Common Stock	S	5434	$47.76	Disposed	137457704	Direct
2008-07-28	21-Common Stock	S	4500	$47.77	Disposed	137453204	Direct
2008-07-28	22-Common Stock	S	3100	$47.78	Disposed	137450104	Direct
2008-07-28	23-Common Stock	S	4000	$47.79	Disposed	137446104	Direct
2008-07-28	24-Common Stock	S	100	$47.80	Disposed	137446004	Direct
2008-07-28	25-Common Stock	S	700	$47.80	Disposed	137445304	Direct
2008-07-28	26-Common Stock	S	1400	$47.81	Disposed	137443904	Direct
2008-07-28	27-Common Stock	S	1100	$47.82	Disposed	137442804	Direct
2008-07-28	28-Common Stock	S	1157	$47.83	Disposed	137441647	Direct
2008-07-28	29-Common Stock	S	1843	$47.84	Disposed	137439804	Direct
2008-07-28	30-Common Stock	S	1100	$47.85	Disposed	137438704	Direct