ELI LILLY & Co — Director's Dealing 2006

Jul 28, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-07-27

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-07-27	31-Common Stock	S	1800	$55.59	Disposed	143505804	Direct
2006-07-27	32-Common Stock	S	3700	$55.58	Disposed	143502104	Direct
2006-07-27	33-Common Stock	S	700	$55.57	Disposed	143501404	Direct
2006-07-27	34-Common Stock	S	1400	$55.56	Disposed	143500004	Direct
2006-07-27	35-Common Stock	S	2100	$55.55	Disposed	143497904	Direct
2006-07-27	36-Common Stock	S	700	$55.54	Disposed	143497204	Direct
2006-07-27	37-Common Stock	S	1400	$55.53	Disposed	143495804	Direct
2006-07-27	38-Common Stock	S	700	$55.52	Disposed	143495104	Direct
2006-07-27	39-Common Stock	S	2700	$55.51	Disposed	143492404	Direct
2006-07-27	40-Common Stock	S	2800	$55.50	Disposed	143489604	Direct
2006-07-27	41-Common Stock	S	4300	$55.49	Disposed	143485304	Direct
2006-07-27	42-Common Stock	S	2800	$55.48	Disposed	143482504	Direct
2006-07-27	43-Common Stock	S	1500	$55.47	Disposed	143481004	Direct
2006-07-27	44-Common Stock	S	1400	$55.46	Disposed	143479604	Direct
2006-07-27	45-Common Stock	S	2300	$55.45	Disposed	143477304	Direct
2006-07-27	46-Common Stock	S	900	$55.44	Disposed	143476404	Direct
2006-07-27	47-Common Stock	S	1400	$55.43	Disposed	143475004	Direct
2006-07-27	48-Common Stock	S	1400	$55.42	Disposed	143473604	Direct
2006-07-27	49-Common Stock	S	1400	$55.41	Disposed	143472204	Direct
2006-07-27	50-Common Stock	S	2100	$55.40	Disposed	143470104	Direct
2006-07-27	51-Common Stock	S	3500	$55.39	Disposed	143466604	Direct
2006-07-27	52-Common Stock	S	1400	$55.38	Disposed	143465204	Direct
2006-07-27	53-Common Stock	S	1400	$55.37	Disposed	143463804	Direct
2006-07-27	54-Common Stock	S	700	$55.35	Disposed	143463104	Direct
2006-07-27	55-Common Stock	S	1400	$55.34	Disposed	143461704	Direct
2006-07-27	56-Common Stock	S	700	$55.33	Disposed	143461004	Direct
2006-07-27	57-Common Stock	S	700	$55.31	Disposed	143460304	Direct
2006-07-27	58-Common Stock	S	1600	$55.30	Disposed	143458704	Direct
2006-07-27	59-Common Stock	S	2200	$55.29	Disposed	143456504	Direct
2006-07-27	60-Common Stock	S	700	$55.28	Disposed	143455804	Direct