GREIF, INC — Director's Dealing 2007

Jun 22, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2007-06-20

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-20	Class A Common Stock	M	1400	$13.10	Acquired	13962	Direct
2007-06-20	Class A Common Stock	S	1400	$60.00	Disposed	12562	Direct
2007-06-21	Class A Common Stock	M	8600	$13.10	Acquired	21162	Direct
2007-06-21	Class A Common Stock	S	8600	$59.50	Disposed	12562	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-20	Class A Common Stock Options	$13.10	M	1400	Disposed	2012-09-05	Class A Common Stock (1400)	Direct
2007-06-21	Class A Common Stock Options	$13.10	M	8600	Disposed	2012-09-05	Class A Common Stock (8600)	Direct