ELI LILLY & Co — Director's Dealing 2006

Aug 30, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-08-29

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-29	1-Common Stock	S	1000	$56.39	Disposed	142259804	Direct
2006-08-29	2-Common Stock	S	300	$56.37	Disposed	142259504	Direct
2006-08-29	3-Common Stock	S	600	$56.36	Disposed	142258904	Direct
2006-08-29	4-Common Stock	S	200	$56.35	Disposed	142258704	Direct
2006-08-29	5-Common Stock	S	800	$56.34	Disposed	142257904	Direct
2006-08-29	6-Common Stock	S	2600	$56.33	Disposed	142255304	Direct
2006-08-29	7-Common Stock	S	3900	$56.32	Disposed	142251404	Direct
2006-08-29	8-Common Stock	S	1700	$56.31	Disposed	142249704	Direct
2006-08-29	9-Common Stock	S	9800	$56.30	Disposed	142239904	Direct
2006-08-29	10-Common Stock	S	8900	$56.29	Disposed	142231004	Direct
2006-08-29	11-Common Stock	S	5300	$56.28	Disposed	142225704	Direct
2006-08-29	12-Common Stock	S	9800	$56.27	Disposed	142215904	Direct
2006-08-29	13-Common Stock	S	8900	$56.26	Disposed	142207004	Direct
2006-08-29	14-Common Stock	S	4000	$56.25	Disposed	142203004	Direct
2006-08-29	15-Common Stock	S	11300	$56.24	Disposed	142191704	Direct
2006-08-29	16-Common Stock	S	4000	$56.23	Disposed	142187704	Direct
2006-08-29	17-Common Stock	S	9900	$56.22	Disposed	142177804	Direct
2006-08-29	18-Common Stock	S	8000	$56.21	Disposed	142169804	Direct
2006-08-29	19-Common Stock	S	8800	$56.20	Disposed	142161004	Direct
2006-08-29	20-Common Stock	S	9400	$56.19	Disposed	142151604	Direct
2006-08-29	21-Common Stock	S	4700	$56.18	Disposed	142146904	Direct
2006-08-29	22-Common Stock	S	9900	$56.17	Disposed	142137004	Direct
2006-08-29	23-Common Stock	S	500	$56.16	Disposed	142136504	Direct
2006-08-29	24-Common Stock	S	7100	$56.15	Disposed	142129404	Direct
2006-08-29	25-Common Stock	S	5600	$56.14	Disposed	142123804	Direct
2006-08-29	26-Common Stock	S	2700	$56.13	Disposed	142121104	Direct
2006-08-29	27-Common Stock	S	500	$56.12	Disposed	142120604	Direct
2006-08-29	28-Common Stock	S	1000	$56.11	Disposed	142119604	Direct
2006-08-29	29-Common Stock	S	4100	$56.10	Disposed	142115504	Direct
2006-08-29	30-Common Stock	S	1300	$56.09	Disposed	142114204	Direct