-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: keymaster@town.hall.org
Originator-Key-Asymmetric:
 MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq
 pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ==
MIC-Info: RSA-MD5,RSA,
 oQYpWCzrDdgh3DAD1vnJWm8bGBpLEpo7mLAyZ8oIKv4+IeDi+slcl4Fn4TrV1sJt
 37wS7r3ctY8zB9E8zfTpLA==

<IMS-DOCUMENT>0000007694-95-000025.txt : 19950515
<IMS-HEADER>0000007694-95-000025.hdr.sgml : 19950515
ACCESSION NUMBER:		0000007694-95-000025
CONFORMED SUBMISSION TYPE:	424B2
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19950215
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASHLAND INC
		CENTRAL INDEX KEY:			0000007694
		STANDARD INDUSTRIAL CLASSIFICATION:	PETROLEUM REFINING [2911]
		IRS NUMBER:				610122250
		STATE OF INCORPORATION:			KY
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		424B2
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-51095
		FILM NUMBER:		95511208

	BUSINESS ADDRESS:	
		STREET 1:		1000 ASHLAND DRIVE
		CITY:			RUSSELL
		STATE:			KY
		ZIP:			41169
		BUSINESS PHONE:		6063293333

	MAIL ADDRESS:	
		STREET 1:		P O BOX 391
		CITY:			ASHLAND
		STATE:			KY
		ZIP:			41101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ASHLAND OIL INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ASHLAND OIL & REFINING CO
		DATE OF NAME CHANGE:	19700806
</IMS-HEADER>
<DOCUMENT>
<TYPE>424B2
<SEQUENCE>1
<TEXT>




                                              Filed under Rule 424(b)(2)
                                              Registration No. 33-51095 and
                                              Registration No. 33-42141


    Pricing Supplement No. 22 Dated February 14, 1995
    ------------------------------------------------

    To  Prospectus Dated December 2, 1993 
        Prospectus Supplement Dated December 2, 1993

                                        $301,627,000

                                         ASHLAND INC.

                                 MEDIUM-TERM NOTES, SERIES F

                        Due from 9 Months or More from Date of Issue

                          Principal Amount:           $5,000,000

                  (Total Principal Amount Issued to Date:     $204,000,000)


          Original Issue Date:                          February 22, 1995 
                                                       ------------------- 

          Maturity Date:                                February 21, 2025
                                                       ------------------- 

          Interest Rate:                                      8.63%
                                                       -------------------

    Redemption:

    Check box opposite applicable paragraph.

     [ x ]      The Notes cannot be redeemed prior to maturity.

     [   ]      The Notes may be redeemed prior to maturity. 


    Initial Redemption Date:

          The optional Redemption Price on and after the Initial Redemption
    Date shall initially be      % of the principal  amount of the Notes to
    be  redeemed and  shall  decline  at each  anniversary of  the  Initial
    Redemption Date by       % of the principal amount to be redeemed until
    the Optional Redemption Price is 100% of such principal amount.

    Commission to be paid to agent.                         $ 37,500.00
    Wertheim Schroder & Co., Inc.                          -------------- 


   <PAGE>
   </TEXT>
   </DOCUMENT>
</IMS-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
