GREIF, INC — Director's Dealing 2007

Dec 27, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2007-12-24

Reporting Person: SPARKS WILLIAM B JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-12-24	Class A Common Stock	M	7635	$13.10	Acquired	30999	Direct
2007-12-24	Class A Common Stock	F	1497	$66.80	Disposed	29502	Direct
2007-12-24	Class A Common Stock	S	2	$67.16	Disposed	29500	Direct
2007-12-26	Class A Common Stock	M	16350	$13.10	Acquired	45850	Direct
2007-12-26	Class A Common Stock	S	16350	$67.57	Disposed	29500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-12-24	Class A Common Stock Options	$13.10	M	7635	Disposed	2012-09-05	Class A Common Stock (7635)	Direct
2007-12-26	Class A Common Stock Options	$13.10	M	16350	Disposed	2012-09-05	Class A Common Stock (16350)	Direct