GREIF, INC — Director's Dealing 2003

Oct 16, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2003-10-15

Reporting Person: OLDERMAN DAVID J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-15	Class A Common Stock	S	3000	$31.30	Disposed	1000	Indirect
2003-10-15	Class B Common Stock	P	3000	$34.00	Acquired	6060	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	40014	Direct

Footnotes

F1: 1,000 shares sold from each of the following trusts: Jeanne Olderman Trust; Jill Olderman Trust; and David Olderman Trust. Mr. Olderman is the trustee of each trust..

F2: These shares are owned by the reporting person's self-directed profit sharing plan.

F3: 1000 shares purchasesd for each of the following trusts: the Jeanne Olderman Trust; the Jill Olderman Trust and the David Olderman Trust. Mr. Olderman is the trustee of each trust.

F4: 800 shares are owned by the reporting person's spouse; 2,260 shares are owned by the reporting person's self directed profit sharing plan; 1000 shares by the Jeanne Olderman Trust; 1000 shares by the Jill Olderman Trust and 1000 shares by the David Olderman Trust.