X0202 4 2006-11-28 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 2006-11-28 4 S 0 400 53.94 D 140798604 D 32-Common Stock 2006-11-28 4 S 0 700 53.93 D 140797904 D 33-Common Stock 2006-11-28 4 S 0 400 53.92 D 140797504 D 34-Common Stock 2006-11-28 4 S 0 800 53.91 D 140796704 D 35-Common Stock 2006-11-28 4 S 0 1500 53.90 D 140795204 D 36-Common Stock 2006-11-28 4 S 0 400 53.88 D 140794804 D 37-Common Stock 2006-11-28 4 S 0 600 53.87 D 140794204 D 38-Common Stock 2006-11-28 4 S 0 3400 53.86 D 140790804 D 39-Common Stock 2006-11-28 4 S 0 800 53.85 D 140790004 D 40-Common Stock 2006-11-28 4 S 0 1000 53.84 D 140789004 D 41-Common Stock 2006-11-28 4 S 0 600 53.83 D 140788404 D 42-Common Stock 2006-11-28 4 S 0 6400 53.82 D 140782004 D 43-Common Stock 2006-11-28 4 S 0 5200 53.81 D 140776804 D 44-Common Stock 2006-11-28 4 S 0 4200 53.80 D 140772604 D 45-Common Stock 2006-11-28 4 S 0 1600 53.79 D 140771004 D 46-Common Stock 2006-11-28 4 S 0 5600 53.78 D 140765404 D 47-Common Stock 2006-11-28 4 S 0 4400 53.77 D 140761004 D 48-Common Stock 2006-11-28 4 S 0 6400 53.76 D 140754604 D 49-Common Stock 2006-11-28 4 S 0 3800 53.75 D 140750804 D 50-Common Stock 2006-11-28 4 S 0 5600 53.74 D 140745204 D 51-Common Stock 2006-11-28 4 S 0 9100 53.73 D 140736104 D 52-Common Stock 2006-11-28 4 S 0 9300 53.72 D 140726804 D 53-Common Stock 2006-11-28 4 S 0 4500 53.71 D 140722304 D 54-Common Stock 2006-11-28 4 S 0 2800 53.70 D 140719504 D 55-Common Stock 2006-11-28 4 S 0 1100 53.69 D 140718404 D 56-Common Stock 2006-11-28 4 S 0 1600 53.68 D 140716804 D 57-Common Stock 2006-11-28 4 S 0 1000 53.67 D 140715804 D This is the second of two Forms 4 filed by the Reporting Person on same date, November 29, 2006, representing transactions #31 through #57 of 57 total transactions. by:/s/Diane M. Stenson, Treasurer on behalf of Lilly Endowment, Inc. 2006-11-29