GREIF, INC — Director's Dealing 2005

Dec 19, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2005-12-16

Reporting Person: Patton Michael C (Senior Vice President PP&S)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-12-16	Class A Common Stock	M	7000	$26.20	Acquired	7000	Direct
2005-12-16	Class A Common Stock	M	1750	$25.43	Acquired	8750	Direct
2005-12-16	Class A Common Stock	S	7000	$68.05	Disposed	1750	Direct
2005-12-16	Class A Common Stock	S	1750	$68.05	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-12-16	Class A Common Stock Options	$26.20	M	7000	Disposed	2012-09-05	Class A Common Stock (7000)	Direct
2005-12-16	Class A Common Stock Options	$25.43	M	1750	Disposed	2013-09-09	Class A Common Stock (1750)	Direct

Footnotes

F1: The reporting person does not own any Greif Class A Common Stock.