GREIF, INC — Director's Dealing 2006

Jan 11, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2006-01-09

Reporting Person: CHANDLER CHARLES R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-01-09	Class A Common Stock	M	1900	$29.625	Acquired	11190	Direct
2006-01-09	Class A Common Stock	S	1900	$64.0926	Disposed	10000	Direct
2006-01-10	Class A Common Stock	M	8100	$29.625	Acquired	18100	Direct
2006-01-10	Class A Common Stock	S	8100	$64.2317	Disposed	10000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-01-09	Class A Common Stock Options	$29.625	M	1900	Disposed	2006-09-05	Class A Common Stock (1900)	Direct
2006-01-10	Class A Common Stock Options	$29.625	M	8100	Disposed	2006-09-05	Class A Common Stock (8100)	Direct