ELI LILLY & Co — Director's Dealing 2006

Jul 26, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-07-25

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-07-25	31-Common Stock	S	900	$55.87	Disposed	143712704	Direct
2006-07-25	32-Common Stock	S	1200	$55.86	Disposed	143711504	Direct
2006-07-25	33-Common Stock	S	1800	$55.85	Disposed	143709704	Direct
2006-07-25	34-Common Stock	S	2100	$55.84	Disposed	143707604	Direct
2006-07-25	35-Common Stock	S	3900	$55.83	Disposed	143703704	Direct
2006-07-25	36-Common Stock	S	7100	$55.82	Disposed	143696604	Direct
2006-07-25	37-Common Stock	S	10300	$55.81	Disposed	143686304	Direct
2006-07-25	38-Common Stock	S	6900	$55.80	Disposed	143679404	Direct
2006-07-25	39-Common Stock	S	6000	$55.79	Disposed	143673404	Direct
2006-07-25	40-Common Stock	S	11300	$55.78	Disposed	143662104	Direct
2006-07-25	41-Common Stock	S	6800	$55.77	Disposed	143655304	Direct
2006-07-25	42-Common Stock	S	600	$55.76	Disposed	143654704	Direct
2006-07-25	43-Common Stock	S	1400	$55.75	Disposed	143653304	Direct
2006-07-25	44-Common Stock	S	2500	$55.74	Disposed	143650804	Direct
2006-07-25	45-Common Stock	S	3600	$55.73	Disposed	143647204	Direct
2006-07-25	46-Common Stock	S	1900	$55.72	Disposed	143645304	Direct
2006-07-25	47-Common Stock	S	2600	$55.71	Disposed	143642704	Direct
2006-07-25	48-Common Stock	S	4400	$55.70	Disposed	143638304	Direct
2006-07-25	49-Common Stock	S	3800	$55.69	Disposed	143634504	Direct
2006-07-25	50-Common Stock	S	4400	$55.68	Disposed	143630104	Direct
2006-07-25	51-Common Stock	S	700	$55.67	Disposed	143629404	Direct
2006-07-25	52-Common Stock	S	2000	$55.66	Disposed	143627404	Direct
2006-07-25	53-Common Stock	S	4300	$55.65	Disposed	143623104	Direct
2006-07-25	54-Common Stock	S	2200	$55.64	Disposed	143620904	Direct
2006-07-25	55-Common Stock	S	3300	$55.63	Disposed	143617604	Direct
2006-07-25	56-Common Stock	S	600	$55.62	Disposed	143617004	Direct
2006-07-25	57-Common Stock	S	3000	$55.61	Disposed	143614004	Direct
2006-07-25	58-Common Stock	S	1800	$55.60	Disposed	143612204	Direct
2006-07-25	59-Common Stock	S	800	$55.59	Disposed	143611404	Direct
2006-07-25	60-Common Stock	S	4400	$55.57	Disposed	143607004	Direct