X0303 4 2008-08-22 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 2008-08-22 4 S 0 700 47.32 D 136395104 D 2-Common Stock 2008-08-22 4 S 0 100 47.33 D 136395004 D 3-Common Stock 2008-08-22 4 S 0 800 47.37 D 136394204 D 4-Common Stock 2008-08-22 4 S 0 400 47.38 D 136393804 D 5-Common Stock 2008-08-22 4 S 0 1500 47.39 D 136392304 D 6-Common Stock 2008-08-22 4 S 0 500 47.40 D 136391804 D 7-Common Stock 2008-08-22 4 S 0 2300 47.41 D 136389504 D 8-Common Stock 2008-08-22 4 S 0 1200 47.42 D 136388304 D 9-Common Stock 2008-08-22 4 S 0 3400 47.43 D 136384904 D 10-Common Stock 2008-08-22 4 S 0 4200 47.44 D 136380704 D 11-Common Stock 2008-08-22 4 S 0 3400 47.45 D 136377304 D 12-Common Stock 2008-08-22 4 S 0 2300 47.46 D 136375004 D 13-Common Stock 2008-08-22 4 S 0 300 47.47 D 136374704 D 14-Common Stock 2008-08-22 4 S 0 2400 47.47 D 136372304 D 15-Common Stock 2008-08-22 4 S 0 2231 47.48 D 136370073 D 16-Common Stock 2008-08-22 4 S 0 4869 47.49 D 136365204 D 17-Common Stock 2008-08-22 4 S 0 2900 47.50 D 136362304 D 18-Common Stock 2008-08-22 4 S 0 3432 47.51 D 136358872 D 19-Common Stock 2008-08-22 4 S 0 2418 47.52 D 136356454 D 20-Common Stock 2008-08-22 4 S 0 2300 47.53 D 136354154 D 21-Common Stock 2008-08-22 4 S 0 2950 47.54 D 136351204 D 22-Common Stock 2008-08-22 4 S 0 1600 47.55 D 136349604 D 23-Common Stock 2008-08-22 4 S 0 1100 47.56 D 136348504 D 24-Common Stock 2008-08-22 4 S 0 100 47.57 D 136348404 D 25-Common Stock 2008-08-22 4 S 0 3100 47.57 D 136345304 D 26-Common Stock 2008-08-22 4 S 0 3000 47.58 D 136342304 D 27-Common Stock 2008-08-22 4 S 0 3300 47.59 D 136339004 D 28-Common Stock 2008-08-22 4 S 0 1900 47.60 D 136337104 D 29-Common Stock 2008-08-22 4 S 0 4592 47.61 D 136332512 D 30-Common Stock 2008-08-22 4 S 0 1600 47.62 D 136330912 D This is the first of four Forms 4 filed by the Reporting Person on the same date, August 25, 2008, representing transactions #1 through #30 of 96 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. 2008-08-25