

EXHIBIT 99

                                                          [Ashland Logo]
NEWS FROM ASHLAND

                                               FOR FURTHER INFORMATION:
  
                                                Stan Lampe
                                                (606) 329-4061

                                               FOR IMMEDIATE RELEASE
                                                 September 14, 1995

ASHLAND INC. TO TAKE CHARGE
FOR FAS 121 AND RESTRUCTURING

Ashland,  Ky.  - Paul  W.  Chellgren,  Ashland  Inc.  president  and  chief
operating  officer,  announced  today  that the  company  will  adopt a new
accounting  standard,  Financial Accounting Standards (FAS) Board Statement
No. 121, "Accounting For The Impairment Of Long-Lived Assets," earlier than
its  required  deadline  of Oct.  1,  1996.  Based on this  new  accounting
statement,  Ashland  is  reducing  the value of certain  properties  in its
petroleum,  exploration and chemical companies,  among others, by taking an
approximately  $90  million  non-recurring  charge  in the  September  1995
quarter.
     In  addition,  the company has  revised its  estimate of a  previously
announced charge against earnings for Ashland  Petroleum's early retirement
program seeking  elimination of 250 positions.  When first announced on May
10, the pre-tax charge against  earnings was expected to be in the range of
$25  million.  On Aug.  1, a final  total  of 321  employees  accepted  the
enhanced retirement package. Based on this large number, plus $5 million in
unrelated  reorganization costs announced for Valvoline and Arch Mineral, a
pre-tax charge of $40 million will be taken.
     Combined,  Ashland  Inc.  will  take  a  one-time  pre-tax  charge  of
approximately  $130 million against its fourth quarter earnings,  which are
scheduled to be released  October 23. The  after-tax  impact is expected to
reduce earnings by about $1.25 per share.
     Chellgren also said that the company anticipates consolidated reported
results to be somewhat  better than break even for the fiscal  year,  after
the non-recurring  charges. He made these announcements today at the Lehman
Brothers Energy Conference in New York.


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     Chellgren told the financial analysts that fiscal year 1995 was a good
year  from the  perspective  of  long-term  value  creation.  "Our  list of
accomplishments  is by no means immaterial.  Among the most significant are
the  completion  of 17  acquisitions  at a total  investment  of about $380
million  and a 38 percent  increase  in capital  employed in our energy and
chemical businesses," he stated.
     "Looking  toward the  future,  the  refining  business  seems to be in
balance,"  Chellgren said. "A number of our other business units are larger
and stronger.  We have a number of problems  behind us. And the outlook for
the  U.S.  and  world  economies  appears  to be  positive.  Thus,  we  are
approaching the new fiscal year with confidence and cautious optimism."
     Ashland  Inc.  is a large  energy  and  chemical  company  engaged  in
petroleum refining and marketing; coal;  highway  construction; and oil and
gas exploration and production. Ashland Chemical is the largest distributor
of  chemicals  and  plastics  in North  America  and a leading  supplier of
specialty  chemicals  worldwide.  Ashland's  major consumer  brands include
Valvoline -R- motor oils,  Zerex -R- antifreeze and Pyroil -R-  Performance
Products automotive  chemicals.  As one of the largest independent refiners
in the nation,  Ashland is also a leading regional gasoline marketer,  with
products marketed under the SuperAmerica -R- and Ashland -R- brand names.

                                     -6-
