ELI LILLY & Co — Director's Dealing 2006

Aug 16, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-08-15

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-15	1-Common Stock	S	600	$55.46	Disposed	143000204	Direct
2006-08-15	2-Common Stock	S	600	$55.43	Disposed	142999604	Direct
2006-08-15	3-Common Stock	S	600	$55.42	Disposed	142999004	Direct
2006-08-15	4-Common Stock	S	2400	$55.40	Disposed	142996604	Direct
2006-08-15	5-Common Stock	S	1800	$55.38	Disposed	142994804	Direct
2006-08-15	6-Common Stock	S	1300	$55.37	Disposed	142993504	Direct
2006-08-15	7-Common Stock	S	1600	$55.36	Disposed	142991904	Direct
2006-08-15	8-Common Stock	S	4100	$55.35	Disposed	142987804	Direct
2006-08-15	9-Common Stock	S	4300	$55.34	Disposed	142983504	Direct
2006-08-15	10-Common Stock	S	2800	$55.33	Disposed	142980704	Direct
2006-08-15	11-Common Stock	S	7000	$55.32	Disposed	142973704	Direct
2006-08-15	12-Common Stock	S	6400	$55.31	Disposed	142967304	Direct
2006-08-15	13-Common Stock	S	10200	$55.30	Disposed	142957104	Direct
2006-08-15	14-Common Stock	S	20200	$55.29	Disposed	142936904	Direct
2006-08-15	15-Common Stock	S	6000	$55.28	Disposed	142930904	Direct
2006-08-15	16-Common Stock	S	5400	$55.27	Disposed	142925504	Direct
2006-08-15	17-Common Stock	S	3400	$55.26	Disposed	142922104	Direct
2006-08-15	18-Common Stock	S	11600	$55.25	Disposed	142910504	Direct
2006-08-15	19-Common Stock	S	6800	$55.24	Disposed	142903704	Direct
2006-08-15	20-Common Stock	S	10600	$55.23	Disposed	142893104	Direct
2006-08-15	21-Common Stock	S	4400	$55.22	Disposed	142888704	Direct
2006-08-15	22-Common Stock	S	5500	$55.21	Disposed	142883204	Direct
2006-08-15	23-Common Stock	S	3000	$55.20	Disposed	142880204	Direct
2006-08-15	24-Common Stock	S	3000	$55.19	Disposed	142877204	Direct
2006-08-15	25-Common Stock	S	2900	$55.18	Disposed	142874304	Direct
2006-08-15	26-Common Stock	S	3300	$55.17	Disposed	142871004	Direct
2006-08-15	27-Common Stock	S	4200	$55.16	Disposed	142866804	Direct
2006-08-15	28-Common Stock	S	200	$55.15	Disposed	142866604	Direct
2006-08-15	29-Common Stock	S	3700	$55.14	Disposed	142862904	Direct
2006-08-15	30-Common Stock	S	200	$55.13	Disposed	142862704	Direct