GREIF, INC — Director's Dealing 2006

Sep 5, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2006-08-31

Reporting Person: SPARKS WILLIAM B JR (Director, President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-31	Class A Common Stock	M	1550	$30.59	Acquired	11278	Direct
2006-08-31	Class A Common Stock	F	627	$75.72	Disposed	10651	Direct
2006-08-31	Class A Common Stock	S	1550	$75.72	Disposed	9101	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-31	Class A Common Stock Options	$30.59	M	1550	Disposed	2011-09-05	Class A Common Stock (1550)	Direct