ELI LILLY & Co — Director's Dealing 2006

Oct 27, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-10-26

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-26	31-Common Stock	S	300	$57.14	Disposed	141434504	Direct
2006-10-26	32-Common Stock	S	2900	$57.13	Disposed	141431604	Direct
2006-10-26	33-Common Stock	S	2700	$57.12	Disposed	141428904	Direct
2006-10-26	34-Common Stock	S	3900	$57.11	Disposed	141425004	Direct
2006-10-26	35-Common Stock	S	3900	$57.10	Disposed	141421104	Direct
2006-10-26	36-Common Stock	S	2500	$57.09	Disposed	141418604	Direct
2006-10-26	37-Common Stock	S	800	$57.08	Disposed	141417804	Direct
2006-10-26	38-Common Stock	S	1000	$57.06	Disposed	141416804	Direct
2006-10-26	39-Common Stock	S	800	$57.05	Disposed	141416004	Direct
2006-10-26	40-Common Stock	S	1500	$57.04	Disposed	141414504	Direct
2006-10-26	41-Common Stock	S	2800	$57.03	Disposed	141411704	Direct
2006-10-26	42-Common Stock	S	2000	$57.02	Disposed	141409704	Direct
2006-10-26	43-Common Stock	S	800	$57.01	Disposed	141408904	Direct
2006-10-26	44-Common Stock	S	2900	$57.00	Disposed	141406004	Direct
2006-10-26	45-Common Stock	S	900	$56.99	Disposed	141405104	Direct
2006-10-26	46-Common Stock	S	2000	$56.98	Disposed	141403104	Direct
2006-10-26	47-Common Stock	S	2500	$56.97	Disposed	141400604	Direct
2006-10-26	48-Common Stock	S	4100	$56.96	Disposed	141396504	Direct
2006-10-26	49-Common Stock	S	3900	$56.95	Disposed	141392604	Direct
2006-10-26	50-Common Stock	S	5600	$56.94	Disposed	141387004	Direct
2006-10-26	51-Common Stock	S	5000	$56.93	Disposed	141382004	Direct
2006-10-26	52-Common Stock	S	7000	$56.92	Disposed	141375004	Direct
2006-10-26	53-Common Stock	S	3200	$56.91	Disposed	141371804	Direct
2006-10-26	54-Common Stock	S	1700	$56.90	Disposed	141370104	Direct
2006-10-26	55-Common Stock	S	2100	$56.89	Disposed	141368004	Direct
2006-10-26	56-Common Stock	S	2400	$56.88	Disposed	141365604	Direct
2006-10-26	57-Common Stock	S	4700	$56.87	Disposed	141360904	Direct
2006-10-26	58-Common Stock	S	1400	$56.86	Disposed	141359504	Direct
2006-10-26	59-Common Stock	S	1500	$56.85	Disposed	141358004	Direct
2006-10-26	60-Common Stock	S	800	$56.84	Disposed	141357204	Direct