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                                                                         1

                                                                    Exhibit 4.15

[Form of Certificated Fixed Rate Registered Security--United States]

                                 [Form of Face]



NOTE NUMBER             AGENT'S NAME


                                                       ASHLAND INC.
- ----------------------------------------------------
PRINCIPAL AMOUNT     SETTLEMENT DATE      TRADE DATE




U.S.$               (ORIGINAL ISSUE DATE)

- --------------------------------------------------------------------------------
MATURITY DATE    TRUSTEE'S CUST. NO.   INTEREST RATE    TAXPAYER ID  TRANSFERRED
                                                       OR SOC. SEC.
                                                          NO. OF
                                                        PURCHASER


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NAME AND ADDRESS OF REGISTERED OWNER                     MEDIUM-TERM
                                                            NOTE
                                                           PROGRAM

                                                        CITIBANK, N.A.
                                                            TRUSTEE


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CUSTOMER'S     RETAIN FOR       THE TIME OF THE       PLEASE SIGN       SEE
  COPY        TAX PURPOSES    TRANSACTION WILL BE     AND RETURN   REVERSE SIDE
                            FURNISHED UPON REQUEST     ENCLOSED
                              OF THE CUSTOMER          RECEIPT

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- --------------------------------------------------------------------------------

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                                                                      2

     REGISTERED                                             REGISTERED

                                  ASHLAND INC.

                           MEDIUM-TERM NOTE, SERIES G
                   DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
NO.                               (FIXED RATE)                    U.S.$


                                              CUSIP
ORIGINAL ISSUE DATE:       INTEREST RATE:     MATURITY DATE:

REDEMPTION DATE:           INDEXED NOTES:    / / YES (see attached)    / / NO

OTHER PROVISIONS:



          ASHLAND INC., a corporation duly organized and existing under the laws
of Kentucky (herein called the "Company", which term includes any successor
corporation under the Indenture referred to on the reverse hereof), for value
received, hereby promises to pay to

             , or registered assigns, the principal sum of

          U.S. DOLLARS, on the Maturity Date specified above, and to pay
interest thereon from the Original Issue Date specified above, or from the most
recent Interest Payment Date to which interest has been paid or duly provided
for, to but excluding the relevant Interest Payment Date, semiannually in
arrears on June 15 and December 15 in each year, unless otherwise indicated in
the applicable pricing supplement, commencing on the first such date after the
Original Issue Date set forth above, at the rate set forth on the face hereof,
until the principal hereof is paid or made available for payment; PROVIDED,
HOWEVER, that if the Original Issue Date set forth above is after a Regular
Record Date referred to below and before the related Interest Payment Date, the
first payment of interest will be made on the Interest Payment Date following
the next succeeding Regular Record Date.  The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date (other than
at Maturity) will, as provided in such Indenture, be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest, which shall be
the June 1 or December 1 (whether or not a Business Day), unless otherwise
indicated in the applicable pricing supplement, as the case may be, next
preceding such Interest

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                                                                               3

Payment Date; PROVIDED, HOWEVER, that interest payable at Maturity shall be
payable to the Person to whom principal shall be payable.  Except as otherwise
provided in the Indenture, any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or
one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by
the Trustee, notice whereof shall be given to Holders of Securities of this
series not less than 10 days prior to such Special Record Date, or be paid at
any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture.  Payment of the principal, premium, if any, and
interest on this Security will be made at the principal corporate trust office
of the Trustee in the Borough of Manhattan, The City of New York, or such other
office or agency of the Company as may be designated by it for such purpose in
the Borough of Manhattan, The City of New York (the "Paying Agent"), in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts; PROVIDED, HOWEVER, that at
the option of the Company, payment of interest (except at Maturity) may be made
by United States dollar check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register.  Payment of the
principal, premium, if any, and interest on this Security due at Maturity will
be made in immediately available funds upon surrender of this Security to the
Paying Agent; PROVIDED that this Security is presented to the Paying Agent in
time for the Paying Agent to make such payment in accordance with its normal
procedures.  "Maturity" shall mean the date on which the principal of this
Security or an installment of principal becomes due, whether on the Maturity
Date specified above, upon redemption or otherwise.

          REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY
SET FORTH IN FULL ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH IN FULL AT THIS PLACE.

          Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof, directly or through an
Authenticating Agent, by manual signature of an authorized officer, this
Security

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shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.


          IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.


Dated:                                  ASHLAND INC.

                                        By
                                            ---------------------------------
                                            Senior Vice President

[Seal]                        Attest:

                                            ---------------------------------
                                            Assistant Secretary



                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Securities of the Series designated therein referred to in
the within-mentioned Indenture.


CITIBANK, N.A.
    As Trustee

By
  -----------------------------------
    Authorized Officer

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                                                                               5

                                [Form of Reverse]

                                  ASHLAND INC.
                           MEDIUM-TERM NOTE, SERIES G

                                  (Fixed Rate)


          This Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued in one or more
series under an Indenture, dated as of August 15, 1989, as amended and restated
as of August 15, 1990 (herein called the "Indenture"), between the Company and
Citibank, N.A., as Trustee (herein called the "Trustee", which term includes any
successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities and of the terms upon which the
securities are, and are to be, authenticated and delivered.  This Security is
one of the series designated on the face hereof.

          This Security may not be redeemed prior to the Redemption Date set
forth on the face hereof.  If no Redemption Date is so set forth, this Security
is not redeemable prior to the Maturity Date.  On or after the Redemption Date
set forth on the face hereof, this Security is redeemable in whole or in part in
increments of U.S. $1,000 at the option of the Company at a redemption price
equal to 100% of the principal amount to be redeemed together with interest
thereon to the date of redemption.

          Notice of redemption will be given by mail to Holders of Securities,
not more than 60 nor less than 30 days prior to the date fixed for redemption,
all as provided in the Indenture.

          In the event of redemption of this Security in part only, a new
Security or Securities of this series and of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the
surrender hereof.

          The Securities of this series will not have a sinking fund unless
otherwise specified in the applicable pricing supplement.

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          Subject to a number of important qualifications and exceptions set
forth in the Indenture, the Indenture provides that neither the Company nor any
Subsidiary (as defined in the Indenture) will (i) issue, assume or guarantee any
notes, bonds, debentures or other similar evidences of indebtedness for money
borrowed secured by a mortgage, lien, pledge or other encumbrance upon any real
or personal property located in the continental United States of America without
effectively providing that the Securities will be secured equally and ratably
with (or, at the option of the Company, prior to) such indebtedness so long as
such indebtedness shall be so secured or (ii) enter into any Sale and Lease-Back
Transactions (as defined in the Indenture).

          The Indenture also provides that the Company at its option (a) will be
Discharged (as such term is defined in the Indenture) from any and all
obligations in respect of the Securities (except for certain obligations to
register the transfer or exchange of Securities, replace stolen, lost or
mutilated Securities, maintain paying agencies and hold moneys for payment in
trust) or (b) need not comply with certain restrictive covenants of the
Indenture, if there is deposited with the Trustee, in the case of Securities
Denominated in U.S. dollars, U.S. Government Obligations (as defined in the
Indenture) or, in the case of Securities denominated in a foreign currency,
Foreign Government Securities (as defined in the Indenture), which through the
payment of interest thereon and principal thereof in accordance with their terms
will provide money or a combination of money and U.S. Government Obligations or
Foreign Government Securities, as the case may be, in an amount sufficient to
pay in the currency, currencies or currency unit or units in which the
Securities are payable all the principal, premium, if any, and interest on, the
Securities on the dates such payments are due in accordance with the terms of
the Securities.

          Interest payments for this Security will include interest accrued to
but excluding the Interest Payment Date.  Interest payments for this Security
shall be computed and paid on the basis of a 360-day year of twelve 30-day
months.

          The interest rate on this Security will in no event be higher than the
maximum rate permitted by New York law as the same may be modified by United
States law of general applicability.


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          If an Event of Default with respect to Securities of this series shall
occur and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture.

          The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of 66 2/3% in principal amount of the Securities at the
time Outstanding of each series to be affected.  The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Securities of each series at the time Outstanding, on behalf of the
Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences.  Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all
future Holders of this Security and of any Security issued upon the registration
of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security.

          As set forth in, and subject to, the provisions of the Indenture, no
Holder of any Security of this series will have any right to institute any
proceeding with respect to the Indenture or for any remedy thereunder, unless
such Holder shall have previously given to the Trustee written notice of a
continuing Event of Default with respect to this series, the Holders of not less
than 25% in principal amount of the Outstanding Securities of this series shall
have made written request, and offered reasonable indemnity, to the Trustee to
institute such proceeding as trustee, the Trustee shall not have received from
the Holders of a majority in principal amount of the Outstanding Securities of
this series a direction inconsistent with such request and the Trustee shall
have failed to institute such proceeding within 60 days; PROVIDED, HOWEVER, that
such limitations do not apply to a suit instituted by the Holder hereof for the
enforcement of payment of the principal, premium, if any, or interest on this
Security on or after the respective due dates expressed herein.

          No reference herein to the Indenture and no provision of this Security
or of the Indenture shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal, premium, if any, and

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interest on this Security at the times, places and rate, and in the coin or
currency, herein prescribed.

          As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the
corporate trust office of the Trustee or such other office or agency as may be
designated by the Company in the Borough of Manhattan, The City of New York,
duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the
Holder hereof or his attorney duly authorized in writing, and thereupon one or
more new Securities of this series and of like tenor, of authorized
denominations and with like terms and conditions and for the same aggregate
principal amount, will be issued to the designated transferee or transferees.

          The Securities of this series are issuable only in registered form,
without coupons, in denominations of $1,000 and any integral multiple of $1,000
in excess thereof.  As provided in the Indenture and subject to certain
limitations therein set forth, Securities of this series are exchangeable for a
like aggregate principal amount of Securities of this series and of like tenor
of a different authorized denomination and with like terms and conditions, as
requested by the Holder surrendering the same.

          No service charge shall be made for any such registration of transfer
or exchange, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith.

          Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner
hereof for all purposes, whether or not this Security is overdue, and neither
the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

          The Indenture and the Securities shall be governed by and construed in
accordance with the laws of the State of New York.

          All terms used in this Security which are defined in the Indenture
shall have the meanings assigned to them in the Indenture.

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                                                                               9

                             ----------------------

                                  ABBREVIATIONS

          The following abbreviations, when used in the inscription on the face
of this instrument, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM-as tenants       UNIF GIFT MIN ACT-..............Custodian.............
          in common                       (Cust)              (Minor)
TEN ENT-as tenants                      Under Uniform Gifts to Minors Act
          by the entireties
JT TEN-as joint tenants                   ..................................
          with right of                                (State)
          survivorship and
          not as tenants in common

          Additional abbreviations may also be used though not in the above
list.

                              ---------------------

          FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto

Please Insert Social Security or Other
  Identifying Number of Assignee

- -----------------------------------------

                                            ------------------------------------
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                   PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS
                      INCLUDING POSTAL ZIP CODE OF ASSIGNEE


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the within Security and all rights thereunder, hereby irrevocably constituting
and appointing ________________________________________________ attorney

to transfer said Security on the books of the Company, with full power of
substitution in the premises.


Dated:
       --------------------------------         --------------------------------
                                                       Signature
