GREIF, INC — Director's Dealing 2008

Apr 4, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF,GEF.B)
CIK: 0000043920
Period of Report: 2008-04-02

Reporting Person: HUML DONALD S (Executive VP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-02	Class A Common Stock	M	7136	$12.715	Acquired	44719	Direct
2008-04-02	Class A Common Stock	S	7136	$71.04	Disposed	37583	Direct
2008-04-02	Class A Common Stock	M	15845	$24.065	Acquired	53428	Direct
2008-04-02	Class A Common Stock	S	15845	$71.04	Disposed	37583	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-02	Class A Common Stock Options	$12.715	M	7136	Disposed	2013-09-09	Class A Common Stock (7136)	Direct
2008-04-02	Class A Common Stock Options	$24.065	M	15845	Disposed	2014-12-03	Class A Common Stock (15845)	Direct

Footnotes

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