0000007694-98-000024 4 1 19980131 19980209 NYSE ASHLAND INC 0000007694 2911 610122250 KY 0930 4 34 001-02918 98525681 1000 ASHLAND DRIVE RUSSELL KY 41169 6063293333 P O BOX 391 ASHLAND KY 41101 ASHLAND OIL INC 19920703 ASHLAND OIL & REFINING CO 19700806 CARLUCCI FRANK C 0001026039 DIRECTOR KY 0930 4 THE CARLYLE GROUP 1001 PENNSYLVANIA AVENUE N W WASHINGTON DC 20004-2505 6063293333 CARLYLE GROUP 1001 PENNSYLVANIA AVENUE N W WASHINGTON DC 20004-2502 4 1 000000769498000024-001-seq1-4.txt FORM 4 - JANUARY 31, 1998