ELI LILLY & Co — Director's Dealing 2006

Aug 2, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-08-01

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-01	1-Common Stock	S	800	$56.55	Disposed	143455004	Direct
2006-08-01	2-Common Stock	S	800	$56.50	Disposed	143454204	Direct
2006-08-01	3-Common Stock	S	800	$56.49	Disposed	143453404	Direct
2006-08-01	4-Common Stock	S	800	$56.48	Disposed	143452604	Direct
2006-08-01	5-Common Stock	S	1600	$56.47	Disposed	143451004	Direct
2006-08-01	6-Common Stock	S	2400	$56.46	Disposed	143448604	Direct
2006-08-01	7-Common Stock	S	1000	$56.45	Disposed	143447604	Direct
2006-08-01	8-Common Stock	S	2800	$56.44	Disposed	143444804	Direct
2006-08-01	9-Common Stock	S	800	$56.43	Disposed	143444004	Direct
2006-08-01	10-Common Stock	S	1100	$56.42	Disposed	143442904	Direct
2006-08-01	11-Common Stock	S	1600	$56.41	Disposed	143441304	Direct
2006-08-01	12-Common Stock	S	2400	$56.40	Disposed	143438904	Direct
2006-08-01	13-Common Stock	S	4000	$56.38	Disposed	143434904	Direct
2006-08-01	14-Common Stock	S	4000	$56.37	Disposed	143430904	Direct
2006-08-01	15-Common Stock	S	7000	$56.36	Disposed	143423904	Direct
2006-08-01	16-Common Stock	S	4000	$56.35	Disposed	143419904	Direct
2006-08-01	17-Common Stock	S	4800	$56.34	Disposed	143415104	Direct
2006-08-01	18-Common Stock	S	3600	$56.33	Disposed	143411504	Direct
2006-08-01	19-Common Stock	S	6200	$56.32	Disposed	143405304	Direct
2006-08-01	20-Common Stock	S	2600	$56.31	Disposed	143402704	Direct
2006-08-01	21-Common Stock	S	3200	$56.30	Disposed	143399504	Direct
2006-08-01	22-Common Stock	S	12100	$56.29	Disposed	143387404	Direct
2006-08-01	23-Common Stock	S	2500	$56.28	Disposed	143384904	Direct
2006-08-01	24-Common Stock	S	4000	$56.27	Disposed	143380904	Direct
2006-08-01	25-Common Stock	S	5500	$56.26	Disposed	143375404	Direct
2006-08-01	26-Common Stock	S	3000	$56.25	Disposed	143372404	Direct
2006-08-01	27-Common Stock	S	2400	$56.24	Disposed	143370004	Direct
2006-08-01	28-Common Stock	S	1600	$56.23	Disposed	143368404	Direct
2006-08-01	29-Common Stock	S	2000	$56.22	Disposed	143366404	Direct
2006-08-01	30-Common Stock	S	2500	$56.21	Disposed	143363904	Direct