GREIF, INC — Director's Dealing 2004

Dec 27, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2004-12-22

Reporting Person: ROANE MICHAEL L (Senior VP Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-22	Class A Common Stock	M	15000	$26.20	Acquired	16276	Direct
2004-12-22	Class A Common Stock	S	15000	$0.00	Disposed	1276	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-22	Class A Common Stock	$26.20	M	15000	Disposed	2012-09-05	Class A Common Stock (15000)	Direct

Footnotes

F1: Stock sold within the range of $55.40 - $56.20.