GREIF, INC — Director's Dealing 2004

Dec 22, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2004-12-21

Reporting Person: SPARKS WILLIAM B JR (Director, President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-21	Class A Common Stock	M	16000	$24.25	Acquired	21552	Direct
2004-12-21	Class A Common Stock	S	16000	$54.77	Disposed	5552	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-21	Class A Common Stock	$24.25	M	16000	Disposed	2009-09-01	Class A Common Stock (16000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	3448	Direct