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Plastic Drum Prices to Be Raised

04/06/2005

GREIF TO RAISE PRICE OF PLASTIC DRUMS FOR NORTH AMERICA CUSTOMERS

DELAWARE, Ohio (April 6, 2005) – Experiencing escalating cost pressures for raw materials, Greif, Inc., (NYSE: GEF, GEF.B) has announced a price increase of up to 12 percent, effective April 25, 2005, for its North American customers of plastic drums.

Greif is taking the step in response to continuing high crude oil and natural gas prices, which are driving up prices for polyethylene. Polyethylene is a primary feedstock for Greif’s plastic drum manufacturing business.

Customers in North America have been notified by letter of the new pricing for plastic drums.

Contact

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

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