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New Steel Drum Plant in Russia Opened

07/14/2004

GREIF OPENS NEW STEEL DRUM PLANT IN RUSSIA

DELAWARE, Ohio (July 14, 2004) – On July 6, Greif, Inc., (NYSE: GEF) opened its fourth manufacturing plant in Russia. Located in Perm, the plant produces open-head and tight-head large steel drums.

Chairman and Chief Executive Officer Michael Gasser and President and Chief Operating Officer William Sparks spoke at the opening ceremony in Perm.

“We have very significant customers here, and this plant marks our confidence in the increasing economic prosperity of this region,” Gasser said.

“We’re proud to be a part of Russia’s present and future,” Sparks said. “We’re very pleased to be in Perm as this plant, with the others, confirms our growth in Russia and our commitment to continue to grow in this country.”

The plant will employ up to 60 people.

Greif’s plants in Upakovka and Volgograd produce steel drums; Greif’s plant in Vologda produces steel drums and water bottles. Greif also maintains a representative office in Moscow.

Contact

Matt Eichmann Vice President,
Investor Relations and Corporate Communications
Greif, Inc.
Office: (740) 549-6067

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