ELI LILLY & Co — Director's Dealing 2006

Nov 8, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-11-07

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-07	31-Common Stock	S	1400	$57.12	Disposed	140988204	Direct
2006-11-07	32-Common Stock	S	1500	$57.11	Disposed	140986704	Direct
2006-11-07	33-Common Stock	S	700	$57.09	Disposed	140986004	Direct
2006-11-07	34-Common Stock	S	700	$57.08	Disposed	140985304	Direct
2006-11-07	35-Common Stock	S	4400	$57.07	Disposed	140980904	Direct
2006-11-07	36-Common Stock	S	600	$57.06	Disposed	140980304	Direct
2006-11-07	37-Common Stock	S	800	$57.05	Disposed	140979504	Direct
2006-11-07	38-Common Stock	S	1800	$57.04	Disposed	140977704	Direct
2006-11-07	39-Common Stock	S	3300	$57.03	Disposed	140974404	Direct
2006-11-07	40-Common Stock	S	2600	$57.02	Disposed	140971804	Direct
2006-11-07	41-Common Stock	S	9500	$57.01	Disposed	140962304	Direct
2006-11-07	42-Common Stock	S	2100	$57.00	Disposed	140960204	Direct
2006-11-07	43-Common Stock	S	2100	$56.99	Disposed	140958104	Direct
2006-11-07	44-Common Stock	S	1900	$56.98	Disposed	140956204	Direct
2006-11-07	45-Common Stock	S	2200	$56.97	Disposed	140954004	Direct
2006-11-07	46-Common Stock	S	2500	$56.96	Disposed	140951504	Direct
2006-11-07	47-Common Stock	S	2800	$56.95	Disposed	140948704	Direct
2006-11-07	48-Common Stock	S	1600	$56.94	Disposed	140947104	Direct
2006-11-07	49-Common Stock	S	2100	$56.93	Disposed	140945004	Direct
2006-11-07	50-Common Stock	S	800	$56.92	Disposed	140944204	Direct
2006-11-07	51-Common Stock	S	700	$56.91	Disposed	140943504	Direct
2006-11-07	52-Common Stock	S	700	$56.90	Disposed	140942804	Direct
2006-11-07	53-Common Stock	S	700	$56.89	Disposed	140942104	Direct
2006-11-07	54-Common Stock	S	1100	$56.88	Disposed	140941004	Direct
2006-11-07	55-Common Stock	S	700	$56.87	Disposed	140940304	Direct
2006-11-07	56-Common Stock	S	200	$56.86	Disposed	140940104	Direct
2006-11-07	57-Common Stock	S	1400	$56.85	Disposed	140938704	Direct
2006-11-07	58-Common Stock	S	2800	$56.84	Disposed	140935904	Direct
2006-11-07	59-Common Stock	S	2800	$56.83	Disposed	140933104	Direct
2006-11-07	60-Common Stock	S	2700	$56.82	Disposed	140930404	Direct