GREIF, INC — Director's Dealing 2003

Jul 10, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2003-07-10

Reporting Person: DEMPSEY MICHAEL H (Director, 10% Owner)

Footnotes

F1: The number of shares was owned directly by the Naomi C. Dempsey Charitable Lead Annuity Trust (the "NCDCLA Trust"). The reporting person is the trustee of, and has a remainder interest in, the NCDCLA Trust.

F2: Price is not applicable, since transaction was a gift.

F3: The number of shares owned indirectly is as follows: (a) 116,175 shares are owned by the NCDCLA Trust; (b) 278,500 shares are owned by the John Dempsey Trust; and (c) 1,663,040 shares are owned by the Naomi A. Coyle Trust. The number of shares owned directly by Michael H. Dempsey is 129,052 shares.