ELI LILLY & Co — Director's Dealing 2006

Nov 2, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-11-01

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-01	1-Common Stock	S	300	$56.29	Disposed	141355504	Direct
2006-11-01	2-Common Stock	S	700	$56.28	Disposed	141354804	Direct
2006-11-01	3-Common Stock	S	600	$56.27	Disposed	141354204	Direct
2006-11-01	4-Common Stock	S	800	$56.26	Disposed	141353404	Direct
2006-11-01	5-Common Stock	S	4300	$56.25	Disposed	141349104	Direct
2006-11-01	6-Common Stock	S	1600	$56.24	Disposed	141347504	Direct
2006-11-01	7-Common Stock	S	1200	$56.23	Disposed	141346304	Direct
2006-11-01	8-Common Stock	S	700	$56.19	Disposed	141345604	Direct
2006-11-01	9-Common Stock	S	600	$56.17	Disposed	141345004	Direct
2006-11-01	10-Common Stock	S	600	$56.15	Disposed	141344404	Direct
2006-11-01	11-Common Stock	S	1800	$56.13	Disposed	141342604	Direct
2006-11-01	12-Common Stock	S	100	$56.12	Disposed	141342504	Direct
2006-11-01	13-Common Stock	S	1200	$56.11	Disposed	141341304	Direct
2006-11-01	14-Common Stock	S	600	$56.10	Disposed	141340704	Direct
2006-11-01	15-Common Stock	S	2000	$56.05	Disposed	141338704	Direct
2006-11-01	16-Common Stock	S	600	$56.04	Disposed	141338104	Direct
2006-11-01	17-Common Stock	S	600	$56.03	Disposed	141337504	Direct
2006-11-01	18-Common Stock	S	1800	$56.02	Disposed	141335704	Direct
2006-11-01	19-Common Stock	S	2400	$56.01	Disposed	141333304	Direct
2006-11-01	20-Common Stock	S	4200	$56.00	Disposed	141329104	Direct
2006-11-01	21-Common Stock	S	2300	$55.99	Disposed	141326804	Direct
2006-11-01	22-Common Stock	S	13700	$55.98	Disposed	141313104	Direct
2006-11-01	23-Common Stock	S	10800	$55.97	Disposed	141302304	Direct
2006-11-01	24-Common Stock	S	23400	$55.96	Disposed	141278904	Direct
2006-11-01	25-Common Stock	S	19400	$55.95	Disposed	141259504	Direct
2006-11-01	26-Common Stock	S	7800	$55.94	Disposed	141251704	Direct
2006-11-01	27-Common Stock	S	7800	$55.93	Disposed	141243904	Direct
2006-11-01	28-Common Stock	S	6600	$55.92	Disposed	141237304	Direct
2006-11-01	29-Common Stock	S	10200	$55.91	Disposed	141227104	Direct
2006-11-01	30-Common Stock	S	2800	$55.90	Disposed	141224304	Direct