ELI LILLY & Co — Director's Dealing 2006

Mar 9, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2006-03-08

Reporting Person: LILLY ENDOWMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-08	61-Common Stock	S	4800	$56.88	Disposed	147517604	Direct
2006-03-08	62-Common Stock	S	1000	$56.86	Disposed	147516604	Direct
2006-03-08	63-Common Stock	S	300	$56.85	Disposed	147516304	Direct
2006-03-08	64-Common Stock	S	700	$56.83	Disposed	147515604	Direct
2006-03-08	65-Common Stock	S	1400	$56.82	Disposed	147514204	Direct
2006-03-08	66-Common Stock	S	1200	$56.81	Disposed	147513004	Direct
2006-03-08	67-Common Stock	S	4100	$56.80	Disposed	147508904	Direct
2006-03-08	68-Common Stock	S	1800	$56.79	Disposed	147507104	Direct
2006-03-08	69-Common Stock	S	1900	$56.78	Disposed	147505204	Direct
2006-03-08	70-Common Stock	S	3300	$56.77	Disposed	147501904	Direct
2006-03-08	71-Common Stock	S	4000	$56.76	Disposed	147497904	Direct
2006-03-08	72-Common Stock	S	4700	$56.75	Disposed	147493204	Direct
2006-03-08	73-Common Stock	S	4900	$56.74	Disposed	147488304	Direct
2006-03-08	74-Common Stock	S	3000	$56.73	Disposed	147485304	Direct
2006-03-08	75-Common Stock	S	5200	$56.72	Disposed	147480104	Direct
2006-03-08	76-Common Stock	S	3200	$56.71	Disposed	147476904	Direct
2006-03-08	77-Common Stock	S	1800	$56.70	Disposed	147475104	Direct
2006-03-08	78-Common Stock	S	3700	$56.69	Disposed	147471404	Direct
2006-03-08	79-Common Stock	S	2200	$56.68	Disposed	147469204	Direct
2006-03-08	80-Common Stock	S	3300	$56.67	Disposed	147465904	Direct
2006-03-08	81-Common Stock	S	3400	$56.66	Disposed	147462504	Direct
2006-03-08	82-Common Stock	S	4900	$56.65	Disposed	147457604	Direct
2006-03-08	83-Common Stock	S	700	$56.64	Disposed	147456904	Direct
2006-03-08	84-Common Stock	S	3800	$56.63	Disposed	147453104	Direct
2006-03-08	85-Common Stock	S	300	$56.60	Disposed	147452804	Direct
2006-03-08	86-Common Stock	S	300	$56.57	Disposed	147452504	Direct
2006-03-08	87-Common Stock	S	700	$56.55	Disposed	147451804	Direct
2006-03-08	88-Common Stock	S	800	$56.54	Disposed	147451004	Direct
2006-03-08	89-Common Stock	S	800	$56.53	Disposed	147450204	Direct
2006-03-08	90-Common Stock	S	2900	$56.52	Disposed	147447304	Direct