ELI LILLY & Co — Director's Dealing 2006

Apr 28, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-04-27

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-04-27	1-Common Stock	S	400	$52.96	Disposed	146270404	Direct
2006-04-27	2-Common Stock	S	800	$52.95	Disposed	146269604	Direct
2006-04-27	3-Common Stock	S	1200	$52.94	Disposed	146268404	Direct
2006-04-27	4-Common Stock	S	2500	$52.92	Disposed	146265904	Direct
2006-04-27	5-Common Stock	S	1600	$52.91	Disposed	146264304	Direct
2006-04-27	6-Common Stock	S	4500	$52.90	Disposed	146259804	Direct
2006-04-27	7-Common Stock	S	3200	$52.89	Disposed	146256604	Direct
2006-04-27	8-Common Stock	S	1600	$52.88	Disposed	146255004	Direct
2006-04-27	9-Common Stock	S	1600	$52.87	Disposed	146253404	Direct
2006-04-27	10-Common Stock	S	2900	$52.86	Disposed	146250504	Direct
2006-04-27	11-Common Stock	S	5800	$52.85	Disposed	146244704	Direct
2006-04-27	12-Common Stock	S	2600	$52.84	Disposed	146242104	Direct
2006-04-27	13-Common Stock	S	5600	$52.83	Disposed	146236504	Direct
2006-04-27	14-Common Stock	S	2300	$52.82	Disposed	146234204	Direct
2006-04-27	15-Common Stock	S	4700	$52.81	Disposed	146229504	Direct
2006-04-27	16-Common Stock	S	5800	$52.80	Disposed	146223704	Direct
2006-04-27	17-Common Stock	S	7500	$52.79	Disposed	146216204	Direct
2006-04-27	18-Common Stock	S	1800	$52.78	Disposed	146214404	Direct
2006-04-27	19-Common Stock	S	7300	$52.77	Disposed	146207104	Direct
2006-04-27	20-Common Stock	S	3500	$52.76	Disposed	146203604	Direct
2006-04-27	21-Common Stock	S	8800	$52.75	Disposed	146194804	Direct
2006-04-27	22-Common Stock	S	1900	$52.74	Disposed	146192904	Direct
2006-04-27	23-Common Stock	S	800	$52.73	Disposed	146192104	Direct
2006-04-27	24-Common Stock	S	2700	$52.72	Disposed	146189404	Direct
2006-04-27	25-Common Stock	S	5200	$52.70	Disposed	146184204	Direct
2006-04-27	26-Common Stock	S	2400	$52.69	Disposed	146181804	Direct
2006-04-27	27-Common Stock	S	3200	$52.68	Disposed	146178604	Direct
2006-04-27	28-Common Stock	S	800	$52.67	Disposed	146177804	Direct
2006-04-27	29-Common Stock	S	1600	$52.66	Disposed	146176204	Direct
2006-04-27	30-Common Stock	S	4900	$52.65	Disposed	146171304	Direct