ELI LILLY & Co — Director's Dealing 2007

Feb 14, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2007-02-12

Reporting Person: PAUL STEVEN M (EVP, Science and Technology)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-09	Common Stock	G	14579	$0.00	Disposed	40040	Direct
2007-02-09	Common Stock	G	14579	$0.00	Acquired	15649	Indirect
2007-02-12	Common Stock	S	7290	$54.38	Disposed	8359	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2915	Indirect
Common Stock	579	Indirect

Footnotes

F1: Reporting person disclaims beneficial ownership of these shares.