GREIF, INC — Director's Dealing 2003

Sep 11, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2003-09-09

Reporting Person: DEMPSEY MICHAEL H (Director, 10% Owner)
Reporting Person: COYLE NAOMI A TRUST (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-09	Class B Common Stock	G	1663040	$0.00	Disposed	5899631	Indirect
2003-09-09	Class B Common Stock	G	332608	$0.00	Acquired	6232239	Indirect

Footnotes

F1: Liquidating distribution from Naomi A. Coyle trust to all beneficiaries. Prior to the distribution, this trust was a greater than 10% stockholder of Greif, Inc. After the distribution, the trust did not hold any securities of Greif, Inc.

F2: The numbr of shares is owned indirectly as follows: (a) 5,375,904 shares are owned by the Naomi C. Dempsey Trust; (b) 116,175 shares are owned by the Naomi C. Dempsey Charitable Lead Annuity Trust; and (c) 278,500 shares are owned by the John C. Dempsey Trust. Mr. Dempsey is the trustee of each of these trusts. Mr. Dempsey also owns 129,052 shares directly.

F3: The number of shares is owned indirectly as follows: (a) 5,375,904 shares are owned by the Naomi C. Dempsey Trust; (b) 116,175 shares are owned by the Naomi C. Dempsey Charitable Lead Annuity Trust; and (c) 278,500 shares are owned by the John C. Dempsey Trust. Mr. Dempsey is the trustee of each of these trusts. Mr. Dempsey also owns 461,660 shares directly.

F4: Receipt of distribution from Naomi A. Coyle trust as beneficiary.