ELI LILLY & Co — Director's Dealing 2006

Aug 23, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-08-22

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-22	1-Common Stock	S	600	$54.98	Disposed	142825204	Direct
2006-08-22	2-Common Stock	S	1900	$54.97	Disposed	142823304	Direct
2006-08-22	3-Common Stock	S	1200	$54.96	Disposed	142822104	Direct
2006-08-22	4-Common Stock	S	3700	$54.95	Disposed	142818404	Direct
2006-08-22	5-Common Stock	S	1800	$54.94	Disposed	142816604	Direct
2006-08-22	6-Common Stock	S	5300	$54.93	Disposed	142811304	Direct
2006-08-22	7-Common Stock	S	2500	$54.92	Disposed	142808804	Direct
2006-08-22	8-Common Stock	S	1200	$54.91	Disposed	142807604	Direct
2006-08-22	9-Common Stock	S	1400	$54.90	Disposed	142806204	Direct
2006-08-22	10-Common Stock	S	1200	$54.89	Disposed	142805004	Direct
2006-08-22	11-Common Stock	S	600	$54.88	Disposed	142804404	Direct
2006-08-22	12-Common Stock	S	900	$54.87	Disposed	142803504	Direct
2006-08-22	13-Common Stock	S	1200	$54.86	Disposed	142802304	Direct
2006-08-22	14-Common Stock	S	1500	$54.85	Disposed	142800804	Direct
2006-08-22	15-Common Stock	S	300	$54.84	Disposed	142800504	Direct
2006-08-22	16-Common Stock	S	2400	$54.83	Disposed	142798104	Direct
2006-08-22	17-Common Stock	S	2400	$54.81	Disposed	142795704	Direct
2006-08-22	18-Common Stock	S	600	$54.79	Disposed	142795104	Direct
2006-08-22	19-Common Stock	S	600	$54.78	Disposed	142794504	Direct
2006-08-22	20-Common Stock	S	1200	$54.77	Disposed	142793304	Direct
2006-08-22	21-Common Stock	S	600	$54.76	Disposed	142792704	Direct
2006-08-22	22-Common Stock	S	2100	$54.75	Disposed	142790604	Direct
2006-08-22	23-Common Stock	S	2600	$54.74	Disposed	142788004	Direct
2006-08-22	24-Common Stock	S	3700	$54.73	Disposed	142784304	Direct
2006-08-22	25-Common Stock	S	2600	$54.72	Disposed	142781704	Direct
2006-08-22	26-Common Stock	S	4500	$54.71	Disposed	142777204	Direct
2006-08-22	27-Common Stock	S	3100	$54.70	Disposed	142774104	Direct
2006-08-22	28-Common Stock	S	2000	$54.69	Disposed	142772104	Direct
2006-08-22	29-Common Stock	S	3900	$54.68	Disposed	142768204	Direct
2006-08-22	30-Common Stock	S	4400	$54.67	Disposed	142763804	Direct