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	1-Common Stock	S	600	$56.37	Disposed	143755204	Direct
2006-07-25	2-Common Stock	S	600	$56.34	Disposed	143754604	Direct
2006-07-25	3-Common Stock	S	800	$56.31	Disposed	143753804	Direct
2006-07-25	4-Common Stock	S	600	$56.24	Disposed	143753204	Direct
2006-07-25	5-Common Stock	S	900	$56.22	Disposed	143752304	Direct
2006-07-25	6-Common Stock	S	600	$56.21	Disposed	143751704	Direct
2006-07-25	7-Common Stock	S	3100	$56.20	Disposed	143748604	Direct
2006-07-25	8-Common Stock	S	600	$56.19	Disposed	143748004	Direct
2006-07-25	9-Common Stock	S	1500	$56.18	Disposed	143746504	Direct
2006-07-25	10-Common Stock	S	600	$56.17	Disposed	143745904	Direct
2006-07-25	11-Common Stock	S	2000	$56.16	Disposed	143743904	Direct
2006-07-25	12-Common Stock	S	1400	$56.15	Disposed	143742504	Direct
2006-07-25	13-Common Stock	S	3700	$56.14	Disposed	143738804	Direct
2006-07-25	14-Common Stock	S	2000	$56.13	Disposed	143736804	Direct
2006-07-25	15-Common Stock	S	2100	$56.12	Disposed	143734704	Direct
2006-07-25	16-Common Stock	S	4000	$56.11	Disposed	143730704	Direct
2006-07-25	17-Common Stock	S	1600	$56.10	Disposed	143729104	Direct
2006-07-25	18-Common Stock	S	700	$56.09	Disposed	143728404	Direct
2006-07-25	19-Common Stock	S	1700	$56.08	Disposed	143726704	Direct
2006-07-25	20-Common Stock	S	800	$56.07	Disposed	143725904	Direct
2006-07-25	21-Common Stock	S	200	$56.05	Disposed	143725704	Direct
2006-07-25	22-Common Stock	S	1100	$56.04	Disposed	143724604	Direct
2006-07-25	23-Common Stock	S	1800	$56.03	Disposed	143722804	Direct
2006-07-25	24-Common Stock	S	2000	$56.01	Disposed	143720804	Direct
2006-07-25	25-Common Stock	S	2300	$56.00	Disposed	143718504	Direct
2006-07-25	26-Common Stock	S	1600	$55.99	Disposed	143716904	Direct
2006-07-25	27-Common Stock	S	1000	$55.98	Disposed	143715904	Direct
2006-07-25	28-Common Stock	S	800	$55.97	Disposed	143715104	Direct
2006-07-25	29-Common Stock	S	800	$55.96	Disposed	143714304	Direct
2006-07-25	30-Common Stock	S	700	$55.94	Disposed	143713604	Direct