GREIF, INC — Director's Dealing 2007

Oct 9, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2007-10-05

Reporting Person: MARTZ GARY R (Senior VP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-10-05	Class A Common Stock	M	6000	$12.715	Acquired	18562	Direct
2007-10-05	Class A Common Stock	S	6000	$63.26	Disposed	12562	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-10-05	Class A Common Stock Options	$12.715	M	6000	Disposed	2013-09-09	Class A Common Stock (6000)	Direct