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<SEC-DOCUMENT>0000007694-98-000041.txt : 19980310
<SEC-HEADER>0000007694-98-000041.hdr.sgml : 19980310
ACCESSION NUMBER:		0000007694-98-000041
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19980228
FILED AS OF DATE:		19980309
SROS:			NYSE

SUBJECT COMPANY:	

	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:		4
		SEC ACT:		
		SEC FILE NUMBER:	001-02918
		FILM NUMBER:		98560042

	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
<REPORTING-OWNER>

COMPANY DATA:	
	COMPANY CONFORMED NAME:			POTTS CHARLES F
	CENTRAL INDEX KEY:			0001023575
	STANDARD INDUSTRIAL CLASSIFICATION:	 []
<RELATIONSHIP>OFFICER

FILING VALUES:
	FORM TYPE:		4

BUSINESS ADDRESS:	
	STREET 1:		3340 PEACHTREE RD NE
	STREET 2:		TOWER PLACE
	CITY:			ATLANTA
	STATE:			GA
	ZIP:			30326
	BUSINESS PHONE:		6063294784

MAIL ADDRESS:	
	STREET 1:		C/O ASHLAND INC
	STREET 2:		1000 ASHLAND DRIVE PO BOX 391
	CITY:			RUSSELL
	STATE:			KY
	ZIP:			41169
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<DESCRIPTION>FORM 4 - FEBRUARY 28, 1998
<TEXT>

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
   Potts, Charles F.
   
   Tower Place - Suite 600
   3340 Peachtree Road
   Atlanta, Georgia  30326
2. Issuer Name and Ticker or Trading Symbol
   Ashland Inc.
   ASH
3. IRS or Social Security Number of Reporting Person (Voluntary)
   
4. Statement for Month/Year
   February 28, 1998
5. If Amendment, Date of Original (Month/Year)
   
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
   (specify below)
   Senior Vice President
7. Individual or Joint/Group Filing (Check Applicable Line)
   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
 Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned                                                 |
___________________________________________________________________________________________________________________________________|
1. Title of Security       |2.    |3.    |4.Securities Acquired (A)         |5.Amount of        |6.Dir |7.Nature of Indirect       |
                           | Transaction |  or Disposed of (D)              |  Securities       |ect   |  Beneficial Ownership     |
                           |      |      |                                  |  Beneficially     |(D)or |                           |
                           |      |    | |                  | A/|           |  Owned at         |Indir |                           |
                           | Date |Code|V|    Amount        | D |    Price  |  End of Month     |ect(I)|                           |
___________________________________________________________________________________________________________________________________|
<S>                        <C>    <C>  <C><C>               <C> <C>         <C>                 <C>    <C>
Common Stock               |      |    | |                  |   |           |1,000              |D     |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |      |    | |                  |   |           |4,736 (1)          |I     |By Trustee                 |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |      |    | |                  |   |           |1,601 (2)          |I     |By Trustee                 |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
 Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned                                                   |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con-  |3.   |4.    |5.Number of De |6.Date Exer|7.Title and Amount  |8.Price|9.Number    |10.|11.Nature of|
  Security            |version |Transaction | rivative Secu |cisable and|  of Underlying     |of Deri|of Deriva   |Dir|Indirect    |
                      |or Exer |     |      | rities Acqui  |Expiration |  Securities        |vative |tive        |ect|Beneficial  |
                      |cise    |     |      | red(A) or Dis |Date(Month/|                    |Secu   |Securities  |(D)|Ownership   |
                      |Price of|     |      | posed of(D)   |Day/Year)  |                    |rity   |Benefi      |or |            |
                      |Deriva- |     |      |               |Date |Expir|                    |       |ficially    |Ind|            |
                      |tive    |     |      |           | A/|Exer-|ation|   Title and Number |       |Owned at    |ire|            |
                      |Secu-   |     |    | |           | D |cisa-|Date |   of Shares        |       |End of      |ct |            |
                      |rity    |Date |Code|V|  Amount   |   |ble  |     |                    |       |Month       |(I)|            |
___________________________________________________________________________________________________________________________________|
<S>                   <C>      <C>   <C>  <C><C>        <C> <C>   <C>   <C>          <C>     <C>     <C>          <C> <C>
Option (3)            |35.625  |     |    | |           |   |9-15-|10-15|Common Stock|750    |       |750         |D  |            |
                      |        |     |    | |           |   |89   |-98  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |35.625  |     |    | |           |   |9-15-|10-15|Common Stock|375    |       |375         |D  |            |
                      |        |     |    | |           |   |90   |-98  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |35.625  |     |    | |           |   |9-15-|10-15|Common Stock|375    |       |375         |D  |            |
                      |        |     |    | |           |   |91   |-98  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (4)            |41.00   |     |    | |           |   |9-21-|10-21|Common Stock|750    |       |750         |D  |            |
                      |        |     |    | |           |   |90   |-99  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |41.00   |     |    | |           |   |9-21-|10-21|Common Stock|375    |       |375         |D  |            |
                      |        |     |    | |           |   |91   |-99  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |41.00   |     |    | |           |   |9-21-|10-21|Common Stock|375    |       |375         |D  |            |
                      |        |     |    | |           |   |92   |-99  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (4)            |30.50   |     |    | |           |   |9-19-|10-19|Common Stock|2,000  |       |2,000       |D  |            |
                      |        |     |    | |           |   |92   |-01  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |30.50   |     |    | |           |   |9-19-|10-19|Common Stock|1,000  |       |1,000       |D  |            |
                      |        |     |    | |           |   |93   |-01  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |30.50   |     |    | |           |   |9-19-|10-19|Common Stock|1,000  |       |1,000       |D  |            |
                      |        |     |    | |           |   |94   |-01  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (4)            |33.125  |     |    | |           |   |9-16-|10-16|Common Stock|5,000  |       |5,000       |D  |            |
                      |        |     |    | |           |   |94   |-03  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |33.125  |     |    | |           |   |9-16-|10-16|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |95   |-03  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |33.125  |     |    | |           |   |9-16-|10-16|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |96   |-03  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (5)            |35.875  |     |    | |           |   |9-15-|10-15|Common Stock|5,000  |       |5,000       |D  |            |
                      |        |     |    | |           |   |95   |-04  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |35.875  |     |    | |           |   |9-15-|10-15|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |96   |-04  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |35.875  |     |    | |           |   |9-15-|10-15|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |97   |-04  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (5)            |33.875  |     |    | |           |   |9-21-|10-21|Common Stock|5,000  |       |5,000       |D  |            |
                      |        |     |    | |           |   |96   |-05  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |33.875  |     |    | |           |   |9-21-|10-21|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |97   |-05  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |33.875  |     |    | |           |   |9-21-|10-21|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |98   |-05  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (5)            |39.00   |     |    | |           |   |9-19-|10-19|Common Stock|5,000  |       |5,000       |D  |            |
                      |        |     |    | |           |   |97   |-06  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |39.00   |     |    | |           |   |9-19-|10-19|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |98   |-06  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |39.00   |     |    | |           |   |9-19-|10-19|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |99   |-06  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Option (6)            |53.375  |     |    | |           |   |9-18-|10-18|Common Stock|5,000  |       |5,000       |D  |            |
                      |        |     |    | |           |   |98   |-07  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |53.375  |     |    | |           |   |9-18-|10-18|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |99   |-07  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |53.375  |     |    | |           |   |9-18-|10-18|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |00   |-07  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock Units (7)|1-for-1 |     |J   | |157        |A  |     |     |Common Stock|157    |       |10,040      |D  |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
1. Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as of 
3-31-96, the date of the 
final allocation to this 
account.
2. Based on Employee Savings Plan information as of 3-4-98, the latest date for 
which such information is 
reasonably available, and includes transactions occurring on or after 11-17-97. 
3.  Employee stock option (represents a right to buy Ashland Common Stock) 
granted pursuant to Ashland's 
Amended Stock Incentive Plan.  The employee stock option includes a tax 
withholding feature pursuant to the plan.
4.  Employee stock option (represents a right to buy Ashland Common Stock) 
granted pursuant to Ashland's 
Long-Term Incentive Plan.  The employee stock option includes a tax withholding 
feature pursuant to the plan.
5.  Employee stock option (represents a right to buy Ashland Common Stock) 
granted pursuant to Ashland's 1993 
Stock Incentive Plan.  The employee stock option includes a tax withholding 
feature pursuant to the plan.
6.  Employee stock option (represents a right to buy Ashland Common Stock) 
granted pursuant to Ashland's 1997 
Stock Incentive Plan.  The employee stock option includes a tax withholding 
feature pursuant to the plan.
7.  Common Stock Units acquired pursuant to Ashland's 1995 Deferred 
Compensation Plan, payable in cash or 
stock upon termination of service and exempt under Rule 16b-3(d).  The 
acquisition dates range from 11-6-97 to 
2-2-98 and the price of the Common Stock Units on applicable valuation dates 
has varied from $49.75 to $53.9375.
SIGNATURE OF REPORTING PERSON
Charles F. Potts
DATE
March 9, 1998

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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