X0303 4 2008-07-29 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 2008-07-29 4 S 0 500 48.27 D 137363904 D 32-Common Stock 2008-07-29 4 S 0 3100 48.27 D 137360804 D 33-Common Stock 2008-07-29 4 S 0 600 48.28 D 137360204 D 34-Common Stock 2008-07-29 4 S 0 6074 48.28 D 137354130 D 35-Common Stock 2008-07-29 4 S 0 100 48.29 D 137354030 D 36-Common Stock 2008-07-29 4 S 0 4602 48.29 D 137349428 D 37-Common Stock 2008-07-29 4 S 0 700 48.30 D 137348728 D 38-Common Stock 2008-07-29 4 S 0 6956 48.30 D 137341772 D 39-Common Stock 2008-07-29 4 S 0 1500 48.31 D 137340272 D 40-Common Stock 2008-07-29 4 S 0 1698 48.31 D 137338574 D 41-Common Stock 2008-07-29 4 S 0 500 48.32 D 137338074 D 42-Common Stock 2008-07-29 4 S 0 2800 48.32 D 137335274 D 43-Common Stock 2008-07-29 4 S 0 500 48.33 D 137334774 D 44-Common Stock 2008-07-29 4 S 0 1770 48.33 D 137333004 D 45-Common Stock 2008-07-29 4 S 0 800 48.34 D 137332204 D 46-Common Stock 2008-07-29 4 S 0 1700 48.34 D 137330504 D 47-Common Stock 2008-07-29 4 S 0 900 48.35 D 137329604 D 48-Common Stock 2008-07-29 4 S 0 1500 48.35 D 137328104 D 49-Common Stock 2008-07-29 4 S 0 600 48.36 D 137327504 D 50-Common Stock 2008-07-29 4 S 0 400 48.36 D 137327104 D 51-Common Stock 2008-07-29 4 S 0 1300 48.37 D 137325804 D 52-Common Stock 2008-07-29 4 S 0 900 48.37 D 137324904 D 53-Common Stock 2008-07-29 4 S 0 1400 48.38 D 137323504 D 54-Common Stock 2008-07-29 4 S 0 1400 48.38 D 137322104 D 55-Common Stock 2008-07-29 4 S 0 900 48.39 D 137321204 D 56-Common Stock 2008-07-29 4 S 0 1400 48.39 D 137319804 D 57-Common Stock 2008-07-29 4 S 0 600 48.40 D 137319204 D 58-Common Stock 2008-07-29 4 S 0 400 48.40 D 137318804 D 59-Common Stock 2008-07-29 4 S 0 1300 48.41 D 137317504 D 60-Common Stock 2008-07-29 4 S 0 400 48.41 D 137317104 D This is the second of four Forms 4 filed by the Reporting Person on the same date, July 30, 2008, representing transactions #31 through #60 of 93 total transactions. All per share price figures are rounded to the next highest cent. by:/s/E. G. White, Vice President for Finance on behalf of Lilly Endowment, Inc. 2008-07-30