ELI LILLY & Co — Director's Dealing 2006

Dec 1, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-11-30

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-30	31-Common Stock	S	5600	$53.71	Disposed	140536304	Direct
2006-11-30	32-Common Stock	S	6800	$53.70	Disposed	140529504	Direct
2006-11-30	33-Common Stock	S	8000	$53.69	Disposed	140521504	Direct
2006-11-30	34-Common Stock	S	6900	$53.68	Disposed	140514604	Direct
2006-11-30	35-Common Stock	S	5800	$53.67	Disposed	140508804	Direct
2006-11-30	36-Common Stock	S	3700	$53.66	Disposed	140505104	Direct
2006-11-30	37-Common Stock	S	2900	$53.65	Disposed	140502204	Direct
2006-11-30	38-Common Stock	S	5000	$53.64	Disposed	140497204	Direct
2006-11-30	39-Common Stock	S	4000	$53.63	Disposed	140493204	Direct
2006-11-30	40-Common Stock	S	2300	$53.62	Disposed	140490904	Direct
2006-11-30	41-Common Stock	S	4100	$53.61	Disposed	140486804	Direct
2006-11-30	42-Common Stock	S	2300	$53.60	Disposed	140484504	Direct
2006-11-30	43-Common Stock	S	5700	$53.59	Disposed	140478804	Direct
2006-11-30	44-Common Stock	S	6100	$53.58	Disposed	140472704	Direct
2006-11-30	45-Common Stock	S	2400	$53.57	Disposed	140470304	Direct
2006-11-30	46-Common Stock	S	1800	$53.56	Disposed	140468504	Direct
2006-11-30	47-Common Stock	S	5400	$53.55	Disposed	140463104	Direct
2006-11-30	48-Common Stock	S	3200	$53.54	Disposed	140459904	Direct
2006-11-30	49-Common Stock	S	300	$53.53	Disposed	140459604	Direct
2006-11-30	50-Common Stock	S	500	$53.52	Disposed	140459104	Direct
2006-11-30	51-Common Stock	S	2800	$53.51	Disposed	140456304	Direct
2006-11-30	52-Common Stock	S	1400	$53.50	Disposed	140454904	Direct
2006-11-30	53-Common Stock	S	800	$53.49	Disposed	140454104	Direct
2006-11-30	54-Common Stock	S	300	$53.48	Disposed	140453804	Direct
2006-11-30	55-Common Stock	S	3000	$53.47	Disposed	140450804	Direct