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Lilly Announces Completion of SGX Acquisition
Date:8/20/2008

bilities and seek out innovative therapies for patients."

The impact of the acquisition, including a one-time charge to earnings for acquired in-process research and development, will be reflected in Lilly's third quarter 2008 financial results.

About Eli Lilly and Company

Lilly, a leading innovation-driven corporation, is developing a growing portfolio of first-in-class and best-in-class pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers - through medicines and information - for some of the world's most urgent medical needs. Additional information about Lilly is available at http://www.lilly.com. C-LLY

This press release contains forward-looking statements that are based on management's current expectations; however, they are subject to significant risks and uncertainties. Actual results may differ materially and will depend on, among other things, realization of anticipated operational efficiencies following the merger with SGX. There is no guarantee Lilly will realize the expected benefits, or that SGX's technology or pipeline will yield commercially successful pharmaceutical products. For additional information about the factors that affect the company's business, please see the company's latest Form 10-K filed February 2008. The company undertakes no duty to update forward-looking statements.


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