Greif, Inc. Establishes New Board Committee

Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced that its Board of Directors has formed a special committee to provide strategic input on the company’s ongoing transformation initiative.

“Greif has been making progress on a strategic transformation plan that will allow us to better align resources with the needs of customers, improve returns on invested capital and better reward our shareholders,” said David B. Fischer, CEO of Greif, Inc. “Our company has always benefited from a highly experienced and engaged Board of Directors, and the creation of this committee increases management’s opportunity to leverage the deep experience of board members who have previously led successful transformation efforts as executives in multifaceted global organizations. Having a committee to specifically focus on assisting the executive team is exciting and we appreciate their extra efforts.”

Board member and former Global CEO of DHL Supply Chain Bruce A. Edwards will chair the committee. The other board members serving on the committee are Vicki L. Avril, former CEO and President of TMK IPSCO; Mark A. Emkes, former Chairman and Chief Executive Officer of Bridgestone Americas and Bridgestone Americas Holdings; John F. Finn, Chairman and Chief Executive Officer of Gardner Inc.; and Patrick J. Norton, former Executive Vice President and CFO, The Scotts Miracle-Gro Company.

“The Board of Directors has been actively involved in reviewing the transformation plan during its formative stages and we are pleased with the progress to date,” said Michael J. Gasser, Chairman of Greif, Inc. “Given the scale and importance of this effort to the future of Greif, we have established this committee to provide strategic counsel to management and also provide the Board more frequent insights on the progress being made.”

About Greif, Inc.

Greif is a world leader in industrial packaging products and services. The company produces steel, plastic, fibre, flexible, corrugated, multiwall and reconditioned containers, intermediate bulk containers, containerboard and packaging accessories, and provides blending, filling, packaging and industrial packaging reconditioning services for a wide range of industries. Greif also manages timber properties in North America. The company is strategically positioned in more than 50 countries to serve global as well as regional customers. Additional information is on the company's website at www.greif.com.

MediaGreif, Inc.Scott GriffinVice President, Corporate Communications740-657-6516orAnalystsRobert Lentz614-876-2000

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