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	31-Common Stock	S	2700	$57.18	Disposed	147566104	Direct
2006-03-08	32-Common Stock	S	900	$57.17	Disposed	147565204	Direct
2006-03-08	33-Common Stock	S	1800	$57.16	Disposed	147563404	Direct
2006-03-08	34-Common Stock	S	1400	$57.15	Disposed	147562004	Direct
2006-03-08	35-Common Stock	S	300	$57.14	Disposed	147561704	Direct
2006-03-08	36-Common Stock	S	2400	$57.13	Disposed	147559304	Direct
2006-03-08	37-Common Stock	S	1600	$57.12	Disposed	147557704	Direct
2006-03-08	38-Common Stock	S	1100	$57.11	Disposed	147556604	Direct
2006-03-08	39-Common Stock	S	2700	$57.10	Disposed	147553904	Direct
2006-03-08	40-Common Stock	S	1500	$57.09	Disposed	147552404	Direct
2006-03-08	41-Common Stock	S	2700	$57.08	Disposed	147549704	Direct
2006-03-08	42-Common Stock	S	700	$57.07	Disposed	147549004	Direct
2006-03-08	43-Common Stock	S	2200	$57.06	Disposed	147546804	Direct
2006-03-08	44-Common Stock	S	1000	$57.05	Disposed	147545804	Direct
2006-03-08	45-Common Stock	S	1700	$57.04	Disposed	147544104	Direct
2006-03-08	46-Common Stock	S	500	$57.03	Disposed	147543604	Direct
2006-03-08	47-Common Stock	S	3500	$57.02	Disposed	147540104	Direct
2006-03-08	48-Common Stock	S	600	$57.01	Disposed	147539504	Direct
2006-03-08	49-Common Stock	S	1700	$57.00	Disposed	147537804	Direct
2006-03-08	50-Common Stock	S	900	$56.99	Disposed	147536904	Direct
2006-03-08	51-Common Stock	S	300	$56.98	Disposed	147536604	Direct
2006-03-08	52-Common Stock	S	3400	$56.97	Disposed	147533204	Direct
2006-03-08	53-Common Stock	S	1600	$56.96	Disposed	147531604	Direct
2006-03-08	54-Common Stock	S	900	$56.95	Disposed	147530704	Direct
2006-03-08	55-Common Stock	S	1600	$56.94	Disposed	147529104	Direct
2006-03-08	56-Common Stock	S	1000	$56.93	Disposed	147528104	Direct
2006-03-08	57-Common Stock	S	1400	$56.92	Disposed	147526704	Direct
2006-03-08	58-Common Stock	S	2200	$56.91	Disposed	147524504	Direct
2006-03-08	59-Common Stock	S	700	$56.90	Disposed	147523804	Direct
2006-03-08	60-Common Stock	S	1400	$56.89	Disposed	147522404	Direct