Greif, Inc.

Delaware, Ohio, USA, 22 July 2009 – Greif, Inc. (Greif) (NYSE: GEF, GEF.B) a global leader in industrial packaging, today announced that it intends to offer up to USD 250 million aggregate principal amount of senior notes due 2019. The net proceeds from this offering are to be used for general corporate purposes, including the repayment of amounts outstanding under its revolving multicurrency credit facility, without any permanent reduction of the commitments.

The new senior notes will be offered to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to persons outside of the United States under Regulation S under the Securities Act. The new senior notes will not be registered under the Securities Act, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

Greif is a world leader in industrial packaging products and services. The company produces steel, plastic, fiber, corrugated and multiwall containers, protective packaging and containerboard, and provides blending, filling, and packaging services for a wide range of industries. Greif also manages timber properties in North America. The company is strategically positioned in more than 45 countries to serve global as well as regional customers. In 2008, Greif reported USD 3.8 billion in net sales. Additional information is on the company's Web site at www.greif.com.