GREIF, INC — Director's Dealing 2006

Dec 14, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2006-12-12

Reporting Person: SPARKS WILLIAM B JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-12	Class A Common Stock	M	18450	$30.59	Acquired	28178	Direct
2006-12-12	Class A Common Stock	S	18450	$115.78	Disposed	9728	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-12	Class A Common Stock Options	$30.59	M	18450	Disposed	2011-09-05	Class A Common Stock (18450)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	3448	Direct