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	1-Common Stock	S	300	$54.78	Disposed	140450504	Direct
2006-12-05	2-Common Stock	S	600	$54.77	Disposed	140449904	Direct
2006-12-05	3-Common Stock	S	600	$54.76	Disposed	140449304	Direct
2006-12-05	4-Common Stock	S	1300	$54.75	Disposed	140448004	Direct
2006-12-05	5-Common Stock	S	1600	$54.74	Disposed	140446404	Direct
2006-12-05	6-Common Stock	S	200	$54.73	Disposed	140446204	Direct
2006-12-05	7-Common Stock	S	2400	$54.72	Disposed	140443804	Direct
2006-12-05	8-Common Stock	S	4400	$54.71	Disposed	140439404	Direct
2006-12-05	9-Common Stock	S	2700	$54.70	Disposed	140436704	Direct
2006-12-05	10-Common Stock	S	800	$54.69	Disposed	140435904	Direct
2006-12-05	11-Common Stock	S	1200	$54.68	Disposed	140434704	Direct
2006-12-05	12-Common Stock	S	600	$54.67	Disposed	140434104	Direct
2006-12-05	13-Common Stock	S	3300	$54.66	Disposed	140430804	Direct
2006-12-05	14-Common Stock	S	3500	$54.65	Disposed	140427304	Direct
2006-12-05	15-Common Stock	S	5200	$54.64	Disposed	140422104	Direct
2006-12-05	16-Common Stock	S	4200	$54.63	Disposed	140417904	Direct
2006-12-05	17-Common Stock	S	2100	$54.62	Disposed	140415804	Direct
2006-12-05	18-Common Stock	S	3500	$54.61	Disposed	140412304	Direct
2006-12-05	19-Common Stock	S	3600	$54.60	Disposed	140408704	Direct
2006-12-05	20-Common Stock	S	2000	$54.59	Disposed	140406704	Direct
2006-12-05	21-Common Stock	S	1200	$54.58	Disposed	140405504	Direct
2006-12-05	22-Common Stock	S	600	$54.57	Disposed	140404904	Direct
2006-12-05	23-Common Stock	S	600	$54.56	Disposed	140404304	Direct
2006-12-05	24-Common Stock	S	600	$54.54	Disposed	140403704	Direct
2006-12-05	25-Common Stock	S	600	$54.52	Disposed	140403104	Direct
2006-12-05	26-Common Stock	S	600	$54.51	Disposed	140402504	Direct
2006-12-05	27-Common Stock	S	800	$54.49	Disposed	140401704	Direct
2006-12-05	28-Common Stock	S	1400	$54.47	Disposed	140400304	Direct
2006-12-05	29-Common Stock	S	2000	$54.46	Disposed	140398304	Direct
2006-12-05	30-Common Stock	S	1200	$54.45	Disposed	140397104	Direct