Greif, Inc. Announces Quarterly Dividend Increase DELAWARE, Ohio, June 1 /PRNewswire-FirstCall/ -- The Board of Directors of Greif, Inc., (NYSE: GEF; GEF.B) today declared quarterly cash dividends of $0.24 per share of Class A Common Stock and $0.36 per share of Class B Common Stock. This represents an increase of 50 percent over the dividends declared last quarter. The dividends are payable on July 1, 2005, to shareholders of record at close of business on June 17, 2005. "The implementation of the Greif Business System throughout the company, in parallel with other strategic business activities, has contributed to a significantly positive cash flow for the company," said Greif Chairman and Chief Executive Officer Michael J. Gasser. "Although the Board and management remain committed to paying down debt, we are also committed to rewarding our shareholders. This unprecedented increase does that." 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. Greif 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 http://www.greif.com/ . DATASOURCE: Greif, Inc. CONTACT: Deb Strohmaier, APR, Director, Communications of Greif, Inc., +1-740-549-6074, or Web site: http://www.greif.com/

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