FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person * OLDERMAN DAVID J   2. Issuer Name and Ticker or Trading Symbol GREIF INC [GEF,GEF.B] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 425 WINTER ROAD 3. Date of Earliest Transaction (Month/Day/Year) 04/01/2005 (Street) DELAWARE, OH 43015 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 04/01/2005   M   2,000 A $ 30 2,000 D   Class A Common Stock 04/01/2005   M   2,000 A $ 30.5 4,000 D   Class A Common Stock 04/01/2005   M   2,000 A $ 36.531 6,000 D   Class A Common Stock 04/01/2005   M   2,000 A $ 33.95 8,000 D   Class A Common Stock 04/01/2005   M   2,000 A $ 36.99 10,000 D   Class A Common Stock 04/01/2005   S   10,000 D $ 69.883 0 (1) D   Class B Common Stock               15,414 D   Class A Common Stock               1,000 I See footnote. (2) Class B Common Stock               6,060 I See footnote. (3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Class A Common Stock Options

$ 30

04/01/2005

M

2,000

09/05/1996

09/05/2006

Class A Common Stock

2,000

$ 30

10,000

D

Class A Common Stock Options

$ 30.5

04/01/2005

M

2,000

02/24/1997

02/24/2007

Class A Common Stock

2,000

$ 30.5

8,000

D

Class A Common Stock Options

$ 36.531

04/01/2005

M

2,000

02/23/1998

02/23/2008

Class A Common Stock

2,000

$ 36.531

6,000

D

Class A Common Stock Options

$ 33.95

04/01/2005

M

2,000

02/25/2002

02/25/2012

Class A Common Stock

2,000

$ 33.95

4,000

D

Class A Common Stock Options

$ 36.99

04/01/2005

M

2,000

02/23/2004

02/23/2014

Class A Common Stock

2,000

$ 36.99

2,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
OLDERMAN DAVID J 425 WINTER ROAD DELAWARE, OH 43015	X

Signatures

David J. Olderman by John K. Dieker pursuant to a POA filed with the Commission.		04/04/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The reporting person does not have any direct ownership of Greif Class A Common Stock.
(2)	These shares are owned by the reporting person's self-directed profit sharing plan.
(3)	800 shares are owned by the reporting person's spouse; 2,260 shares are owned by the reporting person's self-directed profit sharing plan; 1,000 shares are owned by the Jean Olderman Trust; 1,000 shares are owned by the Jill Olderman Trust and 1,000 shares are owned by the David Olderman Trust.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.