GREIF, INC — Director's Dealing 2005

Jan 10, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2005-01-07

Reporting Person: YOUNG ROBERT A (VP and Director of Taxes)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-07	Class A Common Stock	M	4000	$26.20	Acquired	4000	Direct
2005-01-07	Class A Common Stock	S	4000	$55.20	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-07	Class A Common Stock	$26.20	M	4000	Disposed	2012-09-05	Class A Common Stock (4000)	Direct

Footnotes

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