ELI LILLY & Co — Director's Dealing 2006

Dec 6, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-12-05

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-05	31-Common Stock	S	2000	$54.44	Disposed	140395104	Direct
2006-12-05	32-Common Stock	S	2000	$54.43	Disposed	140393104	Direct
2006-12-05	33-Common Stock	S	1800	$54.42	Disposed	140391304	Direct
2006-12-05	34-Common Stock	S	900	$54.41	Disposed	140390404	Direct
2006-12-05	35-Common Stock	S	3400	$54.40	Disposed	140387004	Direct
2006-12-05	36-Common Stock	S	3700	$54.39	Disposed	140383304	Direct
2006-12-05	37-Common Stock	S	4300	$54.38	Disposed	140379004	Direct
2006-12-05	38-Common Stock	S	4400	$54.37	Disposed	140374604	Direct
2006-12-05	39-Common Stock	S	1400	$54.36	Disposed	140373204	Direct
2006-12-05	40-Common Stock	S	400	$54.35	Disposed	140372804	Direct
2006-12-05	41-Common Stock	S	1400	$54.34	Disposed	140371404	Direct
2006-12-05	42-Common Stock	S	2400	$54.33	Disposed	140369004	Direct
2006-12-05	43-Common Stock	S	2700	$54.32	Disposed	140366304	Direct
2006-12-05	44-Common Stock	S	1800	$54.31	Disposed	140364504	Direct
2006-12-05	45-Common Stock	S	2400	$54.30	Disposed	140362104	Direct
2006-12-05	46-Common Stock	S	600	$54.29	Disposed	140361504	Direct
2006-12-05	47-Common Stock	S	1200	$54.28	Disposed	140360304	Direct
2006-12-05	48-Common Stock	S	600	$54.25	Disposed	140359704	Direct
2006-12-05	49-Common Stock	S	1600	$54.22	Disposed	140358104	Direct
2006-12-05	50-Common Stock	S	600	$54.21	Disposed	140357504	Direct
2006-12-05	51-Common Stock	S	1300	$54.20	Disposed	140356204	Direct
2006-12-05	52-Common Stock	S	600	$54.18	Disposed	140355604	Direct
2006-12-05	53-Common Stock	S	1200	$54.17	Disposed	140354404	Direct
2006-12-05	54-Common Stock	S	1200	$54.16	Disposed	140353204	Direct
2006-12-05	55-Common Stock	S	600	$54.15	Disposed	140352604	Direct
2006-12-05	56-Common Stock	S	1200	$54.14	Disposed	140351404	Direct
2006-12-05	57-Common Stock	S	600	$54.13	Disposed	140350804	Direct