ELI LILLY & Co — Director's Dealing 2006

Aug 24, 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)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-23	1-Common Stock	S	600	$55.36	Disposed	142700204	Direct
2006-08-23	2-Common Stock	S	600	$55.29	Disposed	142699604	Direct
2006-08-23	3-Common Stock	S	600	$55.28	Disposed	142699004	Direct
2006-08-23	4-Common Stock	S	1200	$55.26	Disposed	142697804	Direct
2006-08-23	5-Common Stock	S	600	$55.24	Disposed	142697204	Direct
2006-08-23	6-Common Stock	S	600	$55.23	Disposed	142696604	Direct
2006-08-23	7-Common Stock	S	200	$55.19	Disposed	142696404	Direct
2006-08-23	8-Common Stock	S	600	$55.17	Disposed	142695804	Direct
2006-08-23	9-Common Stock	S	600	$55.16	Disposed	142695204	Direct
2006-08-23	10-Common Stock	S	1900	$55.15	Disposed	142693304	Direct
2006-08-23	11-Common Stock	S	600	$55.14	Disposed	142692704	Direct
2006-08-23	12-Common Stock	S	1800	$55.13	Disposed	142690904	Direct
2006-08-23	13-Common Stock	S	600	$55.12	Disposed	142690304	Direct
2006-08-23	14-Common Stock	S	2100	$55.11	Disposed	142688204	Direct
2006-08-23	15-Common Stock	S	600	$55.10	Disposed	142687604	Direct
2006-08-23	16-Common Stock	S	1800	$55.09	Disposed	142685804	Direct
2006-08-23	17-Common Stock	S	1700	$55.08	Disposed	142684104	Direct
2006-08-23	18-Common Stock	S	4400	$55.07	Disposed	142679704	Direct
2006-08-23	19-Common Stock	S	1200	$55.05	Disposed	142678504	Direct
2006-08-23	20-Common Stock	S	6500	$55.04	Disposed	142672004	Direct
2006-08-23	21-Common Stock	S	8400	$55.03	Disposed	142663604	Direct
2006-08-23	22-Common Stock	S	3000	$55.02	Disposed	142660604	Direct
2006-08-23	23-Common Stock	S	5800	$55.01	Disposed	142654804	Direct
2006-08-23	24-Common Stock	S	5200	$55.00	Disposed	142649604	Direct
2006-08-23	25-Common Stock	S	4700	$54.99	Disposed	142644904	Direct
2006-08-23	26-Common Stock	S	3200	$54.98	Disposed	142641704	Direct
2006-08-23	27-Common Stock	S	5400	$54.97	Disposed	142636304	Direct
2006-08-23	28-Common Stock	S	12100	$54.96	Disposed	142624204	Direct
2006-08-23	29-Common Stock	S	8500	$54.95	Disposed	142615704	Direct
2006-08-23	30-Common Stock	S	12600	$54.94	Disposed	142603104	Direct