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	1-Common Stock	S	600	$57.47	Disposed	141505204	Direct
2006-10-26	2-Common Stock	S	1400	$57.43	Disposed	141503804	Direct
2006-10-26	3-Common Stock	S	1000	$57.42	Disposed	141502804	Direct
2006-10-26	4-Common Stock	S	1700	$57.41	Disposed	141501104	Direct
2006-10-26	5-Common Stock	S	2400	$57.40	Disposed	141498704	Direct
2006-10-26	6-Common Stock	S	2300	$57.39	Disposed	141496404	Direct
2006-10-26	7-Common Stock	S	2000	$57.38	Disposed	141494404	Direct
2006-10-26	8-Common Stock	S	5700	$57.37	Disposed	141488704	Direct
2006-10-26	9-Common Stock	S	1100	$57.36	Disposed	141487604	Direct
2006-10-26	10-Common Stock	S	1700	$57.35	Disposed	141485904	Direct
2006-10-26	11-Common Stock	S	1300	$57.34	Disposed	141484604	Direct
2006-10-26	12-Common Stock	S	4300	$57.33	Disposed	141480304	Direct
2006-10-26	13-Common Stock	S	3500	$57.32	Disposed	141476804	Direct
2006-10-26	14-Common Stock	S	1900	$57.31	Disposed	141474904	Direct
2006-10-26	15-Common Stock	S	3900	$57.30	Disposed	141471004	Direct
2006-10-26	16-Common Stock	S	3500	$57.29	Disposed	141467504	Direct
2006-10-26	17-Common Stock	S	3100	$57.28	Disposed	141464404	Direct
2006-10-26	18-Common Stock	S	300	$57.27	Disposed	141464104	Direct
2006-10-26	19-Common Stock	S	1800	$57.26	Disposed	141462304	Direct
2006-10-26	20-Common Stock	S	1600	$57.25	Disposed	141460704	Direct
2006-10-26	21-Common Stock	S	3400	$57.24	Disposed	141457304	Direct
2006-10-26	22-Common Stock	S	4400	$57.23	Disposed	141452904	Direct
2006-10-26	23-Common Stock	S	2800	$57.22	Disposed	141450104	Direct
2006-10-26	24-Common Stock	S	4500	$57.21	Disposed	141445604	Direct
2006-10-26	25-Common Stock	S	2900	$57.20	Disposed	141442704	Direct
2006-10-26	26-Common Stock	S	1500	$57.19	Disposed	141441204	Direct
2006-10-26	27-Common Stock	S	3900	$57.18	Disposed	141437304	Direct
2006-10-26	28-Common Stock	S	700	$57.17	Disposed	141436604	Direct
2006-10-26	29-Common Stock	S	100	$57.16	Disposed	141436504	Direct
2006-10-26	30-Common Stock	S	1700	$57.15	Disposed	141434804	Direct