ELI LILLY & Co — Director's Dealing 2007

Jan 19, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LILLY ELI & CO (LLY)
CIK: 0000059478
Period of Report: 2007-01-17

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-17	Common Stock	A	32040	$52.86	Acquired	71696	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2874	Indirect
Common Stock	579	Indirect
Common Stock	1070	Indirect

Footnotes

F1: Reporting person disclaims beneficial ownership of these shares.