GREIF, INC — Director's Dealing 2004

Jan 13, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2004-01-12

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-12	Class A Common Stock	M	12500	$29.188	Acquired	13581	Direct
2004-01-12	Class A Common Stock	S	12500	$0.00	Disposed	1081	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-12	Class A Common Stock	$29.188	M	12500	Disposed	2010-09-06	Class A Common Stock (12500)	Direct

Footnotes

F1: Stock sold within the range of $36.75-$37.53