ELI LILLY & Co — Director's Dealing 2006

Aug 25, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-08-24

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-24	1-Common Stock	S	2000	$55.50	Disposed	142573804	Direct
2006-08-24	2-Common Stock	S	600	$55.49	Disposed	142573204	Direct
2006-08-24	3-Common Stock	S	3900	$55.48	Disposed	142569304	Direct
2006-08-24	4-Common Stock	S	1200	$55.46	Disposed	142568104	Direct
2006-08-24	5-Common Stock	S	800	$55.45	Disposed	142567304	Direct
2006-08-24	6-Common Stock	S	1200	$55.44	Disposed	142566104	Direct
2006-08-24	7-Common Stock	S	600	$55.43	Disposed	142565504	Direct
2006-08-24	8-Common Stock	S	600	$55.42	Disposed	142564904	Direct
2006-08-24	9-Common Stock	S	1800	$55.41	Disposed	142563104	Direct
2006-08-24	10-Common Stock	S	2500	$55.40	Disposed	142560604	Direct
2006-08-24	11-Common Stock	S	1800	$55.39	Disposed	142558804	Direct
2006-08-24	12-Common Stock	S	1600	$55.37	Disposed	142557204	Direct
2006-08-24	13-Common Stock	S	600	$55.36	Disposed	142556604	Direct
2006-08-24	14-Common Stock	S	1500	$55.35	Disposed	142555104	Direct
2006-08-24	15-Common Stock	S	1200	$55.34	Disposed	142553904	Direct
2006-08-24	16-Common Stock	S	1800	$55.33	Disposed	142552104	Direct
2006-08-24	17-Common Stock	S	1900	$55.32	Disposed	142550204	Direct
2006-08-24	18-Common Stock	S	5400	$55.31	Disposed	142544804	Direct
2006-08-24	19-Common Stock	S	6300	$55.30	Disposed	142538504	Direct
2006-08-24	20-Common Stock	S	4500	$55.29	Disposed	142534004	Direct
2006-08-24	21-Common Stock	S	5300	$55.28	Disposed	142528704	Direct
2006-08-24	22-Common Stock	S	5400	$55.27	Disposed	142523304	Direct
2006-08-24	23-Common Stock	S	3700	$55.26	Disposed	142519604	Direct
2006-08-24	24-Common Stock	S	3800	$55.25	Disposed	142515804	Direct
2006-08-24	25-Common Stock	S	4400	$55.24	Disposed	142511404	Direct
2006-08-24	26-Common Stock	S	8400	$55.23	Disposed	142503004	Direct
2006-08-24	27-Common Stock	S	9500	$55.22	Disposed	142493504	Direct
2006-08-24	28-Common Stock	S	5900	$55.21	Disposed	142487604	Direct
2006-08-24	29-Common Stock	S	6200	$55.20	Disposed	142481404	Direct
2006-08-24	30-Common Stock	S	5300	$55.19	Disposed	142476104	Direct