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Management Changes Announced

06/20/2005

Greif, Inc. Announces Changes to Senior Management Team

DELAWARE, Ohio (June 20, 2005) – Michael J. Gasser, chairman and chief executive officer of Greif, Inc. (NYSE: GEF, GEF.B), has announced that three executive positions have been filled.

Ivan Signorelli, 52, most recently strategic business unit manager of Latin America and Africa based in São Paolo, Brazil, is now senior vice president, Industrial Packaging & Services – Europe. He is located in Greif’s European headquarters in Vreeland, Netherlands.

Michael C. Patton, 43, currently senior vice president, Transformation Worldwide, will also head the company’s Paper, Packaging & Services business. He will take over from Executive Vice President John Lilak, who has announced his retirement. In his expanded role, Patton will remain based in the company’s headquarters in Delaware, Ohio.

In addition to his current position as senior vice president and general counsel, Gary Martz, 47, will become president of Greif’s timber subsidiary Soterra LLC upon Lilak’s retirement. Martz will retain his office in Greif’s headquarters.

Signorelli joined Van Leer in 1992, which was acquired by Greif in 2001. Patton joined Greif in 2000, and Martz in 2002. All three report directly to Gasser.

“Ivan, Mike and Gary have extensive experience with Greif and are intimately familiar with our goals, our operating system and our culture. I am confident that they will be extremely successful in their new assignments,” Gasser said.

Greif, Inc. is the world leader in industrial packaging products and services. The company provides extensive experience in steel, plastic, fibre, corrugated and multiwall containers and protective packaging for a wide range of industries. Greif also produces containerboard and manages timber properties in North America. The company is strategically positioned in more than 40 countries to serve global as well as regional customers. Additional information is on the company's Web site at www.greif.com.

# # #

Contact:

Deb Strohmaier, APR
Director, Communications
+1 740-549-6074
debra.strohmaier@greif.com

Contact

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

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