ELI LILLY & Co — Director's Dealing 2006

Aug 29, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-08-28

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-28	1-Common Stock	S	700	$56.20	Disposed	142390104	Direct
2006-08-28	2-Common Stock	S	1400	$56.18	Disposed	142388704	Direct
2006-08-28	3-Common Stock	S	2700	$56.16	Disposed	142386004	Direct
2006-08-28	4-Common Stock	S	4500	$56.15	Disposed	142381504	Direct
2006-08-28	5-Common Stock	S	3900	$56.14	Disposed	142377604	Direct
2006-08-28	6-Common Stock	S	2800	$56.13	Disposed	142374804	Direct
2006-08-28	7-Common Stock	S	7200	$56.12	Disposed	142367604	Direct
2006-08-28	8-Common Stock	S	3500	$56.11	Disposed	142364104	Direct
2006-08-28	9-Common Stock	S	5500	$56.10	Disposed	142358604	Direct
2006-08-28	10-Common Stock	S	5300	$56.09	Disposed	142353304	Direct
2006-08-28	11-Common Stock	S	6300	$56.08	Disposed	142347004	Direct
2006-08-28	12-Common Stock	S	5600	$56.07	Disposed	142341404	Direct
2006-08-28	13-Common Stock	S	2800	$56.06	Disposed	142338604	Direct
2006-08-28	14-Common Stock	S	1400	$56.05	Disposed	142337204	Direct
2006-08-28	15-Common Stock	S	2100	$56.04	Disposed	142335104	Direct
2006-08-28	16-Common Stock	S	5800	$56.03	Disposed	142329304	Direct
2006-08-28	17-Common Stock	S	2200	$56.02	Disposed	142327104	Direct
2006-08-28	18-Common Stock	S	1800	$56.01	Disposed	142325304	Direct
2006-08-28	19-Common Stock	S	1400	$56.00	Disposed	142323904	Direct
2006-08-28	20-Common Stock	S	700	$55.99	Disposed	142323204	Direct
2006-08-28	21-Common Stock	S	700	$55.97	Disposed	142322504	Direct
2006-08-28	22-Common Stock	S	700	$55.96	Disposed	142321804	Direct
2006-08-28	23-Common Stock	S	700	$55.95	Disposed	142321104	Direct
2006-08-28	24-Common Stock	S	700	$55.92	Disposed	142320404	Direct
2006-08-28	25-Common Stock	S	700	$55.91	Disposed	142319704	Direct
2006-08-28	26-Common Stock	S	700	$55.90	Disposed	142319004	Direct
2006-08-28	27-Common Stock	S	1000	$55.88	Disposed	142318004	Direct
2006-08-28	28-Common Stock	S	4600	$55.87	Disposed	142313404	Direct
2006-08-28	29-Common Stock	S	2900	$55.86	Disposed	142310504	Direct
2006-08-28	30-Common Stock	S	5400	$55.85	Disposed	142305104	Direct