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: 2006-05-16

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-16	31-Common Stock	S	1200	$51.77	Disposed	144886604	Direct
2006-05-16	32-Common Stock	S	800	$51.76	Disposed	144885804	Direct
2006-05-16	33-Common Stock	S	1300	$51.75	Disposed	144884504	Direct
2006-05-16	34-Common Stock	S	600	$51.74	Disposed	144883904	Direct
2006-05-16	35-Common Stock	S	3300	$51.73	Disposed	144880604	Direct
2006-05-16	36-Common Stock	S	1200	$51.72	Disposed	144879404	Direct
2006-05-16	37-Common Stock	S	2100	$51.71	Disposed	144877304	Direct
2006-05-16	38-Common Stock	S	600	$51.68	Disposed	144876704	Direct
2006-05-16	39-Common Stock	S	100	$51.67	Disposed	144876604	Direct
2006-05-16	40-Common Stock	S	400	$51.66	Disposed	144876204	Direct
2006-05-16	41-Common Stock	S	2000	$51.64	Disposed	144874204	Direct
2006-05-16	42-Common Stock	S	1400	$51.63	Disposed	144872804	Direct
2006-05-16	43-Common Stock	S	2000	$51.62	Disposed	144870804	Direct