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	1-Common Stock	S	700	$55.91	Disposed	143605104	Direct
2006-07-27	2-Common Stock	S	1400	$55.90	Disposed	143603704	Direct
2006-07-27	3-Common Stock	S	1300	$55.89	Disposed	143602404	Direct
2006-07-27	4-Common Stock	S	1200	$55.88	Disposed	143601204	Direct
2006-07-27	5-Common Stock	S	1400	$55.87	Disposed	143599804	Direct
2006-07-27	6-Common Stock	S	1400	$55.86	Disposed	143598404	Direct
2006-07-27	7-Common Stock	S	3000	$55.85	Disposed	143595404	Direct
2006-07-27	8-Common Stock	S	1400	$55.84	Disposed	143594004	Direct
2006-07-27	9-Common Stock	S	2300	$55.83	Disposed	143591704	Direct
2006-07-27	10-Common Stock	S	2100	$55.82	Disposed	143589604	Direct
2006-07-27	11-Common Stock	S	1200	$55.79	Disposed	143588404	Direct
2006-07-27	12-Common Stock	S	700	$55.78	Disposed	143587704	Direct
2006-07-27	13-Common Stock	S	700	$55.77	Disposed	143587004	Direct
2006-07-27	14-Common Stock	S	2200	$55.76	Disposed	143584804	Direct
2006-07-27	15-Common Stock	S	2800	$55.75	Disposed	143582004	Direct
2006-07-27	16-Common Stock	S	3000	$55.74	Disposed	143579004	Direct
2006-07-27	17-Common Stock	S	2600	$55.73	Disposed	143576404	Direct
2006-07-27	18-Common Stock	S	3300	$55.72	Disposed	143573104	Direct
2006-07-27	19-Common Stock	S	5700	$55.71	Disposed	143567404	Direct
2006-07-27	20-Common Stock	S	7100	$55.70	Disposed	143560304	Direct
2006-07-27	21-Common Stock	S	2100	$55.69	Disposed	143558204	Direct
2006-07-27	22-Common Stock	S	7600	$55.68	Disposed	143550604	Direct
2006-07-27	23-Common Stock	S	1700	$55.67	Disposed	143548904	Direct
2006-07-27	24-Common Stock	S	12800	$55.66	Disposed	143536104	Direct
2006-07-27	25-Common Stock	S	5300	$55.65	Disposed	143530804	Direct
2006-07-27	26-Common Stock	S	2800	$55.64	Disposed	143528004	Direct
2006-07-27	27-Common Stock	S	7800	$55.63	Disposed	143520204	Direct
2006-07-27	28-Common Stock	S	5100	$55.62	Disposed	143515104	Direct
2006-07-27	29-Common Stock	S	5000	$55.61	Disposed	143510104	Direct
2006-07-27	30-Common Stock	S	2500	$55.60	Disposed	143507604	Direct