PURPOSE: To provide the title composition, superior in water resistance, adhesion and low temperature pumpability and useful for a wheel bearing, a paper machine or the like, by incorporating, to a grease, a specific ratio, of a lubricating oil, a thickener and a polymer of a specific structure, respectively.

CONSTITUTION: The composition is obtained by incorporating to a grease having an apparent viscosity of less than about 3,500 poise at 20 seconds, respectively, (A) 50-90 (weight) % of a lubricating oil, (B) 1-30% thickener, (C) 0.5-2.0% of (i) a block copolymer of the structure I-II (wherein I is a polymer block comprising at least about 75% of condensed styrene units in which not more than 25% of the aromatic unsaturation is reduced by hydrogenation; and II is a polymer block comprising at least 75% of condensed isoprene units in which at least 95% of the olefinic unsaturation is reduced by hydrogenation) or (ii) a hydrogenated star-shaped polymer having a poly(divinylbenzene) nucleus or the like.