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
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                      	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(f) of the Investment Company Act of 1940	                      	

(Print or Type Responses) 
1. Name and Address of Reporting Person *

DEMPSEY MICHAEL H	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                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
/	
(Last)          (First)          (Middle)
	3. Date of Earliest Transaction (MM/DD/YYYY)

7/14/2003		
(Street)

(City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)

 	6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person	

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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 B Common Stock  	7/14/2003  	 	J   (1)	 	5375904   (1)	A	0.00  	5375904   (2)	I  	Held in Naomi C. Dempsey Trust  	

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 Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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	7. Title and Amount of Securities Underlying Derivative Security
(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					

Explanation of Responses:

(  1) 	Naomi C. Dempsey died on July 14, 2003. At the time of her death, all of Ms. Dempsey's shares of Class B Common Stock of Greif, Inc. were owned by the Naomi C. Dempsey Trust (the "NCD Trust"). During her lifetime, Ms. Dempsey was the trustee of, and retained the right to revoke, the NCD Trust. Therefore, Ms. Dempsey reported these shares as being directly owned by her. At Ms. Dempsey's death, the reporting person automatically became the successor trustee of the NCD Trust. The reporting person is also a beneficiary of the NCD Trust. Therefore, the reporting person has indirect beneficial interest in the shares owned by the NCD Trust.	
(  2) 	The number of shares is owned indirectly as follows: (a) 5,375,904 shares are owned by the NCD Trust (the NCD Trust is also a separate reporting person); (b) 116,175 shares are owned by the Naomi C. Dempsey Charitable Lead Annuity Trust (the "NCDCLA Trust"); (c) 278,500 shares are owned by the John C. Dempsey Trust; (d) 1,663,040 shares are owned by the Naomi A. Coyle Trust (this trust is also a separate reporting person). Mr. Dempsey also owns 129,052 shares directly.	
Reporting Owners

Reporting Owner Name / Address	Relationships	
	Director	10% Owner	Officer	Other	
DEMPSEY MICHAEL H,  	X	X			

Signatures

Michael H. Dempsey by John K. Dieker pursuant to a Power of Attorney filed with the Commission.		7/23/2003	
** Signature of Reporting Person		Date
	
*	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).	

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.

                              GREIF, INC.
                           POWER OF ATTORNEY
                     FOR FORMS 3, 4, AND 5 FILINGS

The undersigned, an officer and/or director of Greif, Inc.,
a Delaware corporation (the Company), hereby constitutes and appoints
Gary R. Martz, John K. Dieker, and Robert S. Zimmerman, and each of
them, my true and lawful attorneys-in-fact and agents, with full power
to act without the other, with full power of substitution and
resubstitution, for me and in my name, place, and stead, in any and
all of my capacities for the Company, to sign all Forms 3, 4, or 5
required to be filed by me with the Securities and Exchange Commission
(the Commission) pursuant to Section 16(a) of the Securities Exchange
Act of 1934 and the rules and regulations promulgated thereunder,
including any and all amendments to any of the foregoing, relating to
the Company, and to file the same with the Commission, granting unto
said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite and
necessary to be done, as fully to all intents and purposes as the
undersigned might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents or any of them
or their or his substitute or substitutes may lawfully do or cause to
be done by virtue hereof.
The undersigned has executed and delivered this Power of Attorney on
the date set forth below.

Dated:        9/23/02                     /s/ Michael H. Dempsey
                                        Signature of Officer/Director
                                        Michael H. Dempsey, Director
                                        Print Name and Title