GREIF, INC — Director's Dealing 2007

Jun 19, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2007-06-15

Reporting Person: Patton Michael C (Senior Vice President PP&S)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-15	Class A Common Stock	M	14000	$24.065	Acquired	14000	Direct
2007-06-15	Class A Common Stock	S	14000	$59.096	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-15	Class A Common Stock Options	$24.065	M	14000	Disposed	2014-12-03	Class A Common Stock (14000)	Direct

Footnotes

F1: The reporting person does not own any Greif Class A Common Stock options.

F2: The reporting person does not own any Greif Class A Common Stock.