ELI LILLY & Co — Director's Dealing 2006

Mar 16, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-03-15

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-15	1-Common Stock	S	800	$57.28	Disposed	146870004	Direct
2006-03-15	2-Common Stock	S	800	$57.25	Disposed	146869204	Direct
2006-03-15	3-Common Stock	S	2300	$57.24	Disposed	146866904	Direct
2006-03-15	4-Common Stock	S	800	$57.23	Disposed	146866104	Direct
2006-03-15	5-Common Stock	S	2000	$57.22	Disposed	146864104	Direct
2006-03-15	6-Common Stock	S	800	$57.20	Disposed	146863304	Direct
2006-03-15	7-Common Stock	S	1000	$57.19	Disposed	146862304	Direct
2006-03-15	8-Common Stock	S	2600	$57.18	Disposed	146859704	Direct
2006-03-15	9-Common Stock	S	1500	$57.17	Disposed	146858204	Direct
2006-03-15	10-Common Stock	S	1800	$57.16	Disposed	146856404	Direct
2006-03-15	11-Common Stock	S	2800	$57.15	Disposed	146853604	Direct
2006-03-15	12-Common Stock	S	4800	$57.14	Disposed	146848804	Direct
2006-03-15	13-Common Stock	S	2000	$57.13	Disposed	146846804	Direct
2006-03-15	14-Common Stock	S	6100	$57.12	Disposed	146840704	Direct
2006-03-15	15-Common Stock	S	2600	$57.11	Disposed	146838104	Direct
2006-03-15	16-Common Stock	S	4800	$57.10	Disposed	146833304	Direct
2006-03-15	17-Common Stock	S	3700	$57.09	Disposed	146829604	Direct
2006-03-15	18-Common Stock	S	1100	$57.08	Disposed	146828504	Direct
2006-03-15	19-Common Stock	S	2000	$57.07	Disposed	146826504	Direct
2006-03-15	20-Common Stock	S	1000	$57.05	Disposed	146825504	Direct
2006-03-15	21-Common Stock	S	3400	$57.04	Disposed	146822104	Direct
2006-03-15	22-Common Stock	S	4100	$57.03	Disposed	146818004	Direct
2006-03-15	23-Common Stock	S	2800	$57.02	Disposed	146815204	Direct
2006-03-15	24-Common Stock	S	5600	$57.01	Disposed	146809604	Direct
2006-03-15	25-Common Stock	S	6600	$57.00	Disposed	146803004	Direct
2006-03-15	26-Common Stock	S	12200	$56.99	Disposed	146790804	Direct
2006-03-15	27-Common Stock	S	17700	$56.98	Disposed	146773104	Direct
2006-03-15	28-Common Stock	S	16000	$56.97	Disposed	146757104	Direct
2006-03-15	29-Common Stock	S	6300	$56.96	Disposed	146750804	Direct
2006-03-15	30-Common Stock	S	2500	$56.95	Disposed	146748304	Direct