
<TABLE> <S> <C>

<ARTICLE>  5
<LEGEND>             THIS SCHEDULE CONTAINS SUMMARY  FINANCIAL  INFORMATION
                     EXTRACTED  FROM  ASHLAND  INC.'S 1ST QUARTER 1998 10-Q
                     WHICH RESTATED THE PERIOD ENDED DECEMBER 31, 1996, AND
                     IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 10-Q
                     AND NOTES B AND C OF NOTES TO  CONDENSED  CONSOLIDATED
                     FINANCIAL STATEMENTS THAT EXPLAIN THE RESTATEMENT.
<MULTIPLIER>  1,000,000
       
<S>                                                                          <C>
<PERIOD-TYPE>                                                                3-MOS
<FISCAL-YEAR-END>                                                            SEP-30-1997
<PERIOD-END>                                                                 DEC-31-1996
<CASH>                                                                                79
<SECURITIES>                                                                           0
<RECEIVABLES>                                                                      1,790
<ALLOWANCES>                                                                          27
<INVENTORY>                                                                          811
<CURRENT-ASSETS>                                                                   2,917
<PP&E>                                                                             7,527
<DEPRECIATION>                                                                     3,666
<TOTAL-ASSETS>                                                                     7,991
<CURRENT-LIABILITIES>                                                              2,311
<BONDS>                                                                            2,087
<COMMON>                                                                              65
<PREFERRED-MANDATORY>                                                                  0
<PREFERRED>                                                                          293
<OTHER-SE>                                                                         1,490
<TOTAL-LIABILITY-AND-EQUITY>                                                       7,991
<SALES>                                                                            3,545
<TOTAL-REVENUES>                                                                   3,576
<CGS>                                                                              3,150
<TOTAL-COSTS>                                                                      3,150
<OTHER-EXPENSES>                                                                       0
<LOSS-PROVISION>                                                                       0
<INTEREST-EXPENSE>                                                                    44
<INCOME-PRETAX>                                                                       48
<INCOME-TAX>                                                                          15
<INCOME-CONTINUING>                                                                   24
<DISCONTINUED>                                                                        12
<EXTRAORDINARY>                                                                        0
<CHANGES>                                                                              0
<NET-INCOME>                                                                          36
<EPS-PRIMARY>                                                                        .48
<EPS-DILUTED>                                                                        .47
        

</TABLE>
