ELI LILLY & Co — Director's Dealing 2006

Nov 3, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-11-02

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-02	1-Common Stock	S	400	$56.63	Disposed	141185404	Direct
2006-11-02	2-Common Stock	S	300	$56.62	Disposed	141185104	Direct
2006-11-02	3-Common Stock	S	400	$56.61	Disposed	141184704	Direct
2006-11-02	4-Common Stock	S	1800	$56.60	Disposed	141182904	Direct
2006-11-02	5-Common Stock	S	1500	$56.59	Disposed	141181404	Direct
2006-11-02	6-Common Stock	S	1000	$56.58	Disposed	141180404	Direct
2006-11-02	7-Common Stock	S	300	$56.57	Disposed	141180104	Direct
2006-11-02	8-Common Stock	S	2400	$56.56	Disposed	141177704	Direct
2006-11-02	9-Common Stock	S	1000	$56.55	Disposed	141176704	Direct
2006-11-02	10-Common Stock	S	1200	$56.54	Disposed	141175504	Direct
2006-11-02	11-Common Stock	S	600	$56.53	Disposed	141174904	Direct
2006-11-02	12-Common Stock	S	1200	$56.52	Disposed	141173704	Direct
2006-11-02	13-Common Stock	S	900	$56.51	Disposed	141172804	Direct
2006-11-02	14-Common Stock	S	2500	$56.50	Disposed	141170304	Direct
2006-11-02	15-Common Stock	S	4200	$56.49	Disposed	141166104	Direct
2006-11-02	16-Common Stock	S	1700	$56.48	Disposed	141164404	Direct
2006-11-02	17-Common Stock	S	3500	$56.47	Disposed	141160904	Direct
2006-11-02	18-Common Stock	S	3400	$56.46	Disposed	141157504	Direct
2006-11-02	19-Common Stock	S	2900	$56.45	Disposed	141154604	Direct
2006-11-02	20-Common Stock	S	4600	$56.44	Disposed	141150004	Direct
2006-11-02	21-Common Stock	S	5900	$56.43	Disposed	141144104	Direct
2006-11-02	22-Common Stock	S	7200	$56.42	Disposed	141136904	Direct
2006-11-02	23-Common Stock	S	9000	$56.41	Disposed	141127904	Direct
2006-11-02	24-Common Stock	S	11100	$56.40	Disposed	141116804	Direct
2006-11-02	25-Common Stock	S	5900	$56.39	Disposed	141110904	Direct
2006-11-02	26-Common Stock	S	9100	$56.38	Disposed	141101804	Direct
2006-11-02	27-Common Stock	S	8600	$56.37	Disposed	141093204	Direct
2006-11-02	28-Common Stock	S	4300	$56.36	Disposed	141088904	Direct
2006-11-02	29-Common Stock	S	4600	$56.35	Disposed	141084304	Direct
2006-11-02	30-Common Stock	S	6200	$56.34	Disposed	141078104	Direct