<B>Greif Reports Slight Uptick in Quarterly Report</B>

Greif Bros. reported results for the quarter and year. Net sales for the quarter increased to $239.4 million from $234.4 million a year ago. Higher paper prices and increased sales of industrial shipping containers were partially offset by lower timber sales. For the year sales improved 13.6% to $929.9 million versus $818.8 million the prior year. The results were due to higher net sales in the company's Containerboard & Corrugated Products segment, Industrial Shipping Containers segment, and Timber segment.

Fourth quarter net income was $20 million compared with $25.9 million last year. The decline was primarily attributable to lower timber sales, increased costs of products sold and higher selling, general and administrative expenses. Net income for the year was $75.8 million compared with $51.4 million a year ago.