ELI LILLY & Co - Director's Dealing 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-05-19

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-19	31-Common Stock	S	4300	$50.70	Disposed	144668204	Direct
2006-05-19	32-Common Stock	S	1400	$50.69	Disposed	144666804	Direct
2006-05-19	33-Common Stock	S	1800	$50.68	Disposed	144665004	Direct
2006-05-19	34-Common Stock	S	1600	$50.67	Disposed	144663404	Direct
2006-05-19	35-Common Stock	S	2500	$50.66	Disposed	144660904	Direct
2006-05-19	36-Common Stock	S	2500	$50.65	Disposed	144658404	Direct
2006-05-19	37-Common Stock	S	1000	$50.64	Disposed	144657404	Direct
2006-05-19	38-Common Stock	S	700	$50.63	Disposed	144656704	Direct
2006-05-19	39-Common Stock	S	1300	$50.62	Disposed	144655404	Direct
2006-05-19	40-Common Stock	S	1100	$50.61	Disposed	144654304	Direct
2006-05-19	41-Common Stock	S	1400	$50.60	Disposed	144652904	Direct
2006-05-19	42-Common Stock	S	400	$50.58	Disposed	144652504	Direct
2006-05-19	43-Common Stock	S	500	$50.57	Disposed	144652004	Direct
2006-05-19	44-Common Stock	S	400	$50.56	Disposed	144651604	Direct
2006-05-19	45-Common Stock	S	800	$50.55	Disposed	144650804	Direct