ELI LILLY & Co — Director's Dealing 2006

Aug 31, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-08-30

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-30	31-Common Stock	S	600	$55.89	Disposed	141997104	Direct
2006-08-30	32-Common Stock	S	600	$55.87	Disposed	141996504	Direct
2006-08-30	33-Common Stock	S	600	$55.85	Disposed	141995904	Direct
2006-08-30	34-Common Stock	S	3200	$55.83	Disposed	141992704	Direct
2006-08-30	35-Common Stock	S	1900	$55.81	Disposed	141990804	Direct