X0303 4 2008-08-05 0 0000059478 LILLY ELI & CO LLY 0000316011 LILLY ENDOWMENT INC 2801 NORTH MERIDIAN STREET INDIANAPOLIS IN 46208-0068 0 0 1 0 1-Common Stock 2008-08-05 4 S 0 500 47.24 D 137085304 D 2-Common Stock 2008-08-05 4 S 0 100 47.25 D 137085204 D 3-Common Stock 2008-08-05 4 S 0 200 47.25 D 137085004 D 4-Common Stock 2008-08-05 4 S 0 200 47.27 D 137084804 D 5-Common Stock 2008-08-05 4 S 0 1100 47.27 D 137083704 D 6-Common Stock 2008-08-05 4 S 0 900 47.28 D 137082804 D 7-Common Stock 2008-08-05 4 S 0 1200 47.29 D 137081604 D 8-Common Stock 2008-08-05 4 S 0 1700 47.30 D 137079904 D 9-Common Stock 2008-08-05 4 S 0 500 47.31 D 137079404 D 10-Common Stock 2008-08-05 4 S 0 1900 47.31 D 137077504 D 11-Common Stock 2008-08-05 4 S 0 1200 47.32 D 137076304 D 12-Common Stock 2008-08-05 4 S 0 800 47.33 D 137075504 D 13-Common Stock 2008-08-05 4 S 0 1000 47.34 D 137074504 D 14-Common Stock 2008-08-05 4 S 0 1600 47.35 D 137072904 D 15-Common Stock 2008-08-05 4 S 0 1400 47.36 D 137071504 D 16-Common Stock 2008-08-05 4 S 0 100 47.37 D 137071404 D 17-Common Stock 2008-08-05 4 S 0 800 47.37 D 137070604 D 18-Common Stock 2008-08-05 4 S 0 100 47.38 D 137070504 D 19-Common Stock 2008-08-05 4 S 0 1600 47.38 D 137068904 D 20-Common Stock 2008-08-05 4 S 0 200 47.39 D 137068704 D 21-Common Stock 2008-08-05 4 S 0 2100 47.39 D 137066604 D 22-Common Stock 2008-08-05 4 S 0 100 47.40 D 137066504 D 23-Common Stock 2008-08-05 4 S 0 2600 47.40 D 137063904 D 24-Common Stock 2008-08-05 4 S 0 700 47.41 D 137063204 D 25-Common Stock 2008-08-05 4 S 0 400 47.42 D 137062804 D 26-Common Stock 2008-08-05 4 S 0 2000 47.42 D 137060804 D 27-Common Stock 2008-08-05 4 S 0 2000 47.43 D 137058804 D 28-Common Stock 2008-08-05 4 S 0 700 47.44 D 137058104 D 29-Common Stock 2008-08-05 4 S 0 2000 47.45 D 137056104 D 30-Common Stock 2008-08-05 4 S 0 2600 47.46 D 137053504 D This is the first of four Forms 4 filed by the Reporting Person on the same date, August 6, 2008, representing transactions #1 through #30 of 107 total transactions. All per share price figures are rounded to the next highest cent. by:/s/Diane M. Stenson, Treasurer on behalf of Lilly Endowment, Inc. 2008-08-06