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GREIF, INC Director's Dealing 2007

Feb 28, 2007

31415_dirs_2007-02-28_51597594-8dac-4a4c-a78e-48131b081ff6.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2007-02-26

Reporting Person: DEMPSEY MICHAEL H (Director, 10% Owner)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-02-26 Class A Common Stock A 402 $124.27 Acquired 2129 Direct

Holdings (Non-Derivative)

Security Shares Ownership
Class B Common Stock 507065 Direct
Class B Common Stock 106070 Indirect
Class A Common Stock 2349 Indirect
Class B Common Stock 5375904 Indirect
Class B Common Stock 1012 Indirect

Footnotes

F1: The shares are subject to restriction until the earlier of February 27, 2010, or the reporting person's retirement from the Board.

F2: Michael H. Dempsey is the Trustee of the Naomi C. Dempsey Charitable Lead Annuity Trust.

F3: Michael H. Dempsey is the Trustee of the Naomi C. Dempsey Trust.

F4: The shares are held in a trust for the benefit of the reporting person's son. The reporting person's spouse is the trustee of the trust. The reporting person disclaims beneficial ownership of these securities and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for the purpose of Section 16 or for any other purpose.