0000007694-98-000124 5 1 19980930 19981030 NYSE ASHLAND INC 0000007694 2911 610122250 KY 0930 5 34 001-02918 98733771 1000 ASHLAND DRIVE RUSSELL KY 41169 6063293333 P O BOX 391 ASHLAND KY 41101 ASHLAND OIL INC 19920703 ASHLAND OIL & REFINING CO 19700806 ZACHEM HARRY M 0001023539 OFFICER 5 PO BOX 391 ASHLAND KY 41114 6063293333 C/O ASHLAND INC 1000 ASHLAND DRIVE PO BOX 391 RUSSELL KY 41169 5 1 000000769498000124-001-seq1-5.txt FORM 5 - SEPTEMBER 30, 1998