X0202 4 2005-05-25 0 0000059478 LILLY ELI & CO LLY 0000316011 LILLY ENDOWMENT INC 2801 NORTH MERIDIAN STREET INDIANAPOLIS IN 46208-0068 0 0 1 0 31-Common Stock 2006-05-25 4 S 0 800 51.38 D 144434204 D 32-Common Stock 2006-05-25 4 S 0 1000 51.37 D 144433204 D 33-Common Stock 2006-05-25 4 S 0 300 51.36 D 144432904 D 34-Common Stock 2006-05-25 4 S 0 2400 51.35 D 144430504 D 35-Common Stock 2006-05-25 4 S 0 800 51.34 D 144429704 D 36-Common Stock 2006-05-25 4 S 0 700 51.33 D 144429004 D 37-Common Stock 2006-05-25 4 S 0 1800 51.32 D 144427204 D 38-Common Stock 2006-05-25 4 S 0 2300 51.31 D 144424904 D 39-Common Stock 2006-05-25 4 S 0 3200 51.30 D 144421704 D 40-Common Stock 2006-05-25 4 S 0 2100 51.29 D 144419604 D 41-Common Stock 2006-05-25 4 S 0 1100 51.28 D 144418504 D 42-Common Stock 2006-05-25 4 S 0 1200 51.27 D 144417304 D 43-Common Stock 2006-05-25 4 S 0 1500 51.26 D 144415804 D 44-Common Stock 2006-05-25 4 S 0 2800 51.25 D 144413004 D 45-Common Stock 2006-05-25 4 S 0 2700 51.24 D 144410304 D 46-Common Stock 2006-05-25 4 S 0 900 51.23 D 144409404 D 47-Common Stock 2006-05-25 4 S 0 1600 51.22 D 144407804 D 48-Common Stock 2006-05-25 4 S 0 400 51.21 D 144407404 D 49-Common Stock 2006-05-25 4 S 0 2500 51.20 D 144404904 D 50-Common Stock 2006-05-25 4 S 0 100 51.19 D 144404804 D 51-Common Stock 2006-05-25 4 S 0 3400 51.18 D 144401404 D 52-Common Stock 2006-05-25 4 S 0 700 51.17 D 144400704 D 53-Common Stock 2006-05-25 4 S 0 1500 51.16 D 144399204 D 54-Common Stock 2006-05-25 4 S 0 700 51.15 D 144398504 D 55-Common Stock 2006-05-25 4 S 0 1400 51.14 D 144397104 D 56-Common Stock 2006-05-25 4 S 0 2500 51.13 D 144394604 D 57-Common Stock 2006-05-25 4 S 0 2500 51.12 D 144392104 D 58-Common Stock 2006-05-25 4 S 0 1100 51.11 D 144391004 D 59-Common Stock 2006-05-25 4 S 0 1900 51.10 D 144389104 D 60-Common Stock 2006-05-25 4 S 0 1500 51.09 D 144387604 D This is the second of three Forms 4 filed by the Reporting Person on same date, May 26, 2006, representing transactions #31 through #60 of 75 total transactions. by:/s/N. Clay Robbins, President on behalf of Lilly Endowment, Inc. 2005-05-26