ELI LILLY & Co — Director's Dealing 2006

Oct 26, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-10-25

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-25	1-Common Stock	S	700	$57.79	Disposed	141665104	Direct
2006-10-25	2-Common Stock	S	700	$57.72	Disposed	141664404	Direct
2006-10-25	3-Common Stock	S	700	$57.71	Disposed	141663704	Direct
2006-10-25	4-Common Stock	S	2100	$57.70	Disposed	141661604	Direct
2006-10-25	5-Common Stock	S	300	$57.68	Disposed	141661304	Direct
2006-10-25	6-Common Stock	S	300	$57.66	Disposed	141661004	Direct
2006-10-25	7-Common Stock	S	300	$57.65	Disposed	141660704	Direct
2006-10-25	8-Common Stock	S	300	$57.64	Disposed	141660404	Direct
2006-10-25	9-Common Stock	S	1400	$57.63	Disposed	141659004	Direct
2006-10-25	10-Common Stock	S	3000	$57.62	Disposed	141656004	Direct
2006-10-25	11-Common Stock	S	2100	$57.61	Disposed	141653904	Direct
2006-10-25	12-Common Stock	S	1100	$57.60	Disposed	141652804	Direct
2006-10-25	13-Common Stock	S	1400	$57.59	Disposed	141651404	Direct
2006-10-25	14-Common Stock	S	300	$57.58	Disposed	141651104	Direct
2006-10-25	15-Common Stock	S	1000	$57.57	Disposed	141650104	Direct
2006-10-25	16-Common Stock	S	2800	$57.56	Disposed	141647304	Direct
2006-10-25	17-Common Stock	S	2800	$57.55	Disposed	141644504	Direct
2006-10-25	18-Common Stock	S	2400	$57.54	Disposed	141642104	Direct
2006-10-25	19-Common Stock	S	1900	$57.53	Disposed	141640204	Direct
2006-10-25	20-Common Stock	S	3400	$57.52	Disposed	141636804	Direct
2006-10-25	21-Common Stock	S	1800	$57.51	Disposed	141635004	Direct
2006-10-25	22-Common Stock	S	5200	$57.50	Disposed	141629804	Direct
2006-10-25	23-Common Stock	S	4100	$57.49	Disposed	141625704	Direct
2006-10-25	24-Common Stock	S	4000	$57.48	Disposed	141621704	Direct
2006-10-25	25-Common Stock	S	8700	$57.47	Disposed	141613004	Direct
2006-10-25	26-Common Stock	S	5000	$57.46	Disposed	141608004	Direct
2006-10-25	27-Common Stock	S	6700	$57.45	Disposed	141601304	Direct
2006-10-25	28-Common Stock	S	11200	$57.44	Disposed	141590104	Direct
2006-10-25	29-Common Stock	S	1600	$57.43	Disposed	141588504	Direct
2006-10-25	30-Common Stock	S	5200	$57.42	Disposed	141583304	Direct