X0202 4 2006-11-07 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 2006-11-07 4 S 0 1400 57.12 D 140988204 D 32-Common Stock 2006-11-07 4 S 0 1500 57.11 D 140986704 D 33-Common Stock 2006-11-07 4 S 0 700 57.09 D 140986004 D 34-Common Stock 2006-11-07 4 S 0 700 57.08 D 140985304 D 35-Common Stock 2006-11-07 4 S 0 4400 57.07 D 140980904 D 36-Common Stock 2006-11-07 4 S 0 600 57.06 D 140980304 D 37-Common Stock 2006-11-07 4 S 0 800 57.05 D 140979504 D 38-Common Stock 2006-11-07 4 S 0 1800 57.04 D 140977704 D 39-Common Stock 2006-11-07 4 S 0 3300 57.03 D 140974404 D 40-Common Stock 2006-11-07 4 S 0 2600 57.02 D 140971804 D 41-Common Stock 2006-11-07 4 S 0 9500 57.01 D 140962304 D 42-Common Stock 2006-11-07 4 S 0 2100 57.00 D 140960204 D 43-Common Stock 2006-11-07 4 S 0 2100 56.99 D 140958104 D 44-Common Stock 2006-11-07 4 S 0 1900 56.98 D 140956204 D 45-Common Stock 2006-11-07 4 S 0 2200 56.97 D 140954004 D 46-Common Stock 2006-11-07 4 S 0 2500 56.96 D 140951504 D 47-Common Stock 2006-11-07 4 S 0 2800 56.95 D 140948704 D 48-Common Stock 2006-11-07 4 S 0 1600 56.94 D 140947104 D 49-Common Stock 2006-11-07 4 S 0 2100 56.93 D 140945004 D 50-Common Stock 2006-11-07 4 S 0 800 56.92 D 140944204 D 51-Common Stock 2006-11-07 4 S 0 700 56.91 D 140943504 D 52-Common Stock 2006-11-07 4 S 0 700 56.90 D 140942804 D 53-Common Stock 2006-11-07 4 S 0 700 56.89 D 140942104 D 54-Common Stock 2006-11-07 4 S 0 1100 56.88 D 140941004 D 55-Common Stock 2006-11-07 4 S 0 700 56.87 D 140940304 D 56-Common Stock 2006-11-07 4 S 0 200 56.86 D 140940104 D 57-Common Stock 2006-11-07 4 S 0 1400 56.85 D 140938704 D 58-Common Stock 2006-11-07 4 S 0 2800 56.84 D 140935904 D 59-Common Stock 2006-11-07 4 S 0 2800 56.83 D 140933104 D 60-Common Stock 2006-11-07 4 S 0 2700 56.82 D 140930404 D This is the second of three Forms 4 filed by the Reporting Person on same date, November 8, 2006, representing transactions #31 through #60 of 65 total transactions. by:/s/Diane M. Stenson, Treasurer on behalf of Lilly Endowment, Inc. 2006-11-08