0000007694-98-000040 4 1 19980228 19980309 NYSE

ASHLAND INC 0000007694 2911 610122250 KY 0930

4 34 001-02918 98560036

1000 ASHLAND DRIVE RUSSELL KY 41169 6063293333

P O BOX 391 ASHLAND KY 41101

ASHLAND OIL INC 19920703

ASHLAND OIL & REFINING CO 19700806

OBRIEN JAMES J /KY 0001023582 OFFICER

PO BOX 14000 LEXINGTON KY 40512 6063294784

C/O ASHLAND INC 1000 ASHLAND DRIVE PO BOX 391 RUSSELL KY 41169

4 1 000000769498000040-001-seq1-4.txt FORM 4 - FEBRUARY 28, 1998