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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DLvNne43bZjaqfaiwj8lZ6uQMC3MAesUuhSjsETd2RAwi81oevsaaY1ILK1RAwyh
 iC26giiagzJOdPO2ZySL8w==

<SEC-DOCUMENT>0001181431-04-001898.txt : 20040108
<SEC-HEADER>0001181431-04-001898.hdr.sgml : 20040108
<ACCEPTANCE-DATETIME>20040108173404
ACCESSION NUMBER:		0001181431-04-001898
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040107
FILED AS OF DATE:		20040108

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			YOUNG ROBERT A
		CENTRAL INDEX KEY:			0001230864

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00566
		FILM NUMBER:		04516204

	MAIL ADDRESS:	
		STREET 1:		425 WINTER ROAD
		CITY:			DELAWARE
		STATE:			OH
		ZIP:			43015

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GREIF INC
		CENTRAL INDEX KEY:			0000043920
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPERBOARD CONTAINERS & BOXES [2650]
		IRS NUMBER:				314388903
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	BUSINESS ADDRESS:	
		STREET 1:		425 WINTER ROAD
		CITY:			DELAWARE
		STATE:			OH
		ZIP:			43015
		BUSINESS PHONE:		7405496000

	MAIL ADDRESS:	
		STREET 1:		425 WINTER ROAD
		CITY:			DELAWARE
		STATE:			OH
		ZIP:			43015

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREIF BROTHERS CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREIF BROTHERS COOPERAGE CORP
		DATE OF NAME CHANGE:	19690820
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd28416.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2004-01-07</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000043920</issuerCik>
        <issuerName>GREIF INC</issuerName>
        <issuerTradingSymbol>GEF,GEF.B</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001230864</rptOwnerCik>
            <rptOwnerName>YOUNG ROBERT A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>425 WINTER ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DELAWARE</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>43015</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>VP and Director of Taxes</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Class A Common Stock</value></securityTitle><transactionDate><value>2004-01-07</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>500</value></transactionShares><transactionPricePerShare><value>24.25</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>500</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></own
ershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Class A Common Stock</value></securityTitle><transactionDate><value>2004-01-07</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>200</value></transactionShares><transactionPricePerShare><value>36.18</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>300</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Class A Common Stock</value></securityTitle><transactionDate><value>2004-01-07</value></transactionDa
te><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>300</value></transactionShares><transactionPricePerShare><value>36.15</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><ownerSignature><signatureName>/s/ Robert A. Young</signatureName><signatureDate>2004-01-08</signatureDate></ownerSignature></ownershipDocument>



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