ELI LILLY & Co - Director's Dealing 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-08-23

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-23	31-Common Stock	S	3800	$54.93	Disposed	142599304	Direct
2006-08-23	32-Common Stock	S	2400	$54.92	Disposed	142596904	Direct
2006-08-23	33-Common Stock	S	3000	$54.91	Disposed	142593904	Direct
2006-08-23	34-Common Stock	S	600	$54.90	Disposed	142593304	Direct
2006-08-23	35-Common Stock	S	1800	$54.89	Disposed	142591504	Direct
2006-08-23	36-Common Stock	S	2500	$54.87	Disposed	142589004	Direct
2006-08-23	37-Common Stock	S	1800	$54.86	Disposed	142587204	Direct
2006-08-23	38-Common Stock	S	4200	$54.85	Disposed	142583004	Direct
2006-08-23	39-Common Stock	S	3000	$54.84	Disposed	142580004	Direct
2006-08-23	40-Common Stock	S	1800	$54.83	Disposed	142578204	Direct
2006-08-23	41-Common Stock	S	1200	$54.82	Disposed	142577004	Direct
2006-08-23	42-Common Stock	S	600	$54.81	Disposed	142576404	Direct
2006-08-23	43-Common Stock	S	600	$54.80	Disposed	142575804	Direct