GREIF, INC — Director's Dealing 2005

Mar 31, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2005-03-31

Reporting Person: Brown Ronald L (SR VP-Global Sourcing/Sply Chn)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-03-31	Class A Common Stock	M	5000	$31.75	Acquired	5000	Direct
2005-03-31	Class A Common Stock	M	4000	$24.25	Acquired	9000	Direct
2005-03-31	Class A Common Stock	S	9000	$69.70	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-31	Class A Common Stock Options	$31.75	M	5000	Disposed	2008-09-02	Class A Common Stock (5000)	Direct
2005-03-31	Class A Common Stock Options	$24.25	M	4000	Disposed	2009-09-01	Class A Common Stock (4000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	700	Direct

Footnotes

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