ELI LILLY & Co — Director's Dealing 2006

Jun 2, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-06-01

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-06-01	1-Common Stock	S	1000	$52.04	Disposed	144269804	Direct
2006-06-01	2-Common Stock	S	1000	$52.03	Disposed	144268804	Direct
2006-06-01	3-Common Stock	S	5500	$52.02	Disposed	144263304	Direct
2006-06-01	4-Common Stock	S	7600	$51.99	Disposed	144255704	Direct
2006-06-01	5-Common Stock	S	600	$51.97	Disposed	144255104	Direct
2006-06-01	6-Common Stock	S	900	$51.96	Disposed	144254204	Direct
2006-06-01	7-Common Stock	S	1000	$51.95	Disposed	144253204	Direct
2006-06-01	8-Common Stock	S	1200	$51.92	Disposed	144252004	Direct
2006-06-01	9-Common Stock	S	2300	$51.91	Disposed	144249704	Direct
2006-06-01	10-Common Stock	S	900	$51.89	Disposed	144248804	Direct
2006-06-01	11-Common Stock	S	1200	$51.88	Disposed	144247604	Direct
2006-06-01	12-Common Stock	S	2400	$51.87	Disposed	144245204	Direct
2006-06-01	13-Common Stock	S	2000	$51.84	Disposed	144243204	Direct
2006-06-01	14-Common Stock	S	1200	$51.83	Disposed	144242004	Direct
2006-06-01	15-Common Stock	S	3200	$51.82	Disposed	144238804	Direct
2006-06-01	16-Common Stock	S	1300	$51.81	Disposed	144237504	Direct
2006-06-01	17-Common Stock	S	3600	$51.80	Disposed	144233904	Direct
2006-06-01	18-Common Stock	S	2600	$51.79	Disposed	144231304	Direct
2006-06-01	19-Common Stock	S	600	$51.78	Disposed	144230704	Direct
2006-06-01	20-Common Stock	S	1500	$51.77	Disposed	144229204	Direct
2006-06-01	21-Common Stock	S	1200	$51.76	Disposed	144228004	Direct
2006-06-01	22-Common Stock	S	1300	$51.75	Disposed	144226704	Direct
2006-06-01	23-Common Stock	S	1500	$51.74	Disposed	144225204	Direct
2006-06-01	24-Common Stock	S	4500	$51.73	Disposed	144220704	Direct
2006-06-01	25-Common Stock	S	2500	$51.72	Disposed	144218204	Direct
2006-06-01	26-Common Stock	S	5200	$51.71	Disposed	144213004	Direct
2006-06-01	27-Common Stock	S	3500	$51.70	Disposed	144209504	Direct
2006-06-01	28-Common Stock	S	4400	$51.69	Disposed	144205104	Direct
2006-06-01	29-Common Stock	S	2700	$51.68	Disposed	144202404	Direct
2006-06-01	30-Common Stock	S	6500	$51.67	Disposed	144195904	Direct