Not much that I can tell. The ED II is the newer version kit lens that came out around the time of the D40. The other one was the standard kit lens for the D50, and is now discontinued. They look almost identical, and have the same configuration (7 elements in 5 groups). I think the biggest difference is probably the slightly differently shaped zoom ring with decorative silver trim of the newer lens. I actually had the older version until I sold it along with my D50. Very light and plasticky, but not bad glass at all.