GREIF, INC — Director's Dealing 2007

Dec 31, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2007-12-27

Reporting Person: SPARKS WILLIAM B JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-12-27	Class A Common Stock	M	7042	$13.10	Acquired	36542	Direct
2007-12-27	Class A Common Stock	S	5545	$67.23	Disposed	30997	Direct
2007-12-28	Class A Common Stock	M	8973	$13.10	Acquired	39970	Direct
2007-12-28	Class A Common Stock	S	8973	$67.08	Disposed	30997	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-12-27	Class A Common Stock Options	$13.10	M	7042	Disposed	2012-09-05	Class A Common Stock (7042)	Direct
2007-12-28	Class A Common Stock Options	$13.10	M	8973	Disposed	2012-09-05	Class A Common Stock (8973)	Direct