GREIF, INC — Director's Dealing 2010

May 18, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GREIF INC (GEF, GEF.B)
CIK: 0000043920
Period of Report: 2010-05-15

Reporting Person: Ragan Virginia D. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-15	Class A Common Stock	G	3760	—	Disposed	938	Indirect
2010-05-15	Class A Common Stock	G	940	—	Acquired	6770	Direct
2010-02-25	Class B Common Stock	G	328000	—	Disposed	10423808	Indirect
2010-02-25	Class B Common Stock	G	85000	—	Acquired	1128450	Direct
2010-05-15	Class B Common Stock	G	8273448	—	Disposed	2127026	Indirect
2010-05-15	Class B Common Stock	G	2042028	—	Acquired	3170478	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	248139	Indirect

Footnotes

F1: Liquidating distributions to beneficiaries of trusts in which the Reporting Person was a co-trustee.

F2: By trust in which the Reporting Person is a co-trustee.

F3: Liquidating distribution to the Reporting Person as a beneficiary of a trust.

F4: Distributions to beneficiaries of trusts in which the Reporting Person was a co-trustee.

F5: Distribution to the Reporting Person as a beneficiary of a trust.

F6: Includes (i) liquidating distributions to beneficiaries of trusts in which the Reporting Person was a co-trustee (8,180,112 shares), and (ii) shares held in trusts in which the Reporting Person is no longer a trustee (93,336 shares).

F7: Liquidating distribution to the Reporting Person as a beneficiary of a trust.

F8: Includes 23,334 shares that were previously reported as owned indirectly by the Reporting Person as a co-trustee of a trust. On May 15, 2010, the Reporting Person was appointed as the sole trustee of that trust.

F9: By grantor retained annuity and other trusts in which the Reporting Person is the sole trustee.