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<PERIOD>20030616
<FILING-DATE>20030618
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>WATERS FRANK L
<CIK>0001166069
</OWNER-DATA>
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<ACT>34
<FILE-NUMBER>001-02918
<FILM-NUMBER>03748965
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<BUSINESS-ADDRESS>
<STREET1>500 DIEDERICH BLVD
<CITY>RUSSELL
<STATE>KY
<ZIP>41169
<PHONE>606 329 3823
</BUSINESS-ADDRESS>
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<ISSUER>
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<CONFORMED-NAME>ASHLAND INC
<CIK>0000007694
<ASSIGNED-SIC>5160
<IRS-NUMBER>610122250
<STATE-OF-INCORPORATION>KY
<FISCAL-YEAR-END>0930
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>50 E. RIVERCENTER BOULEVARD
<CITY>COVINGTON
<STATE>KY
<ZIP>41012
<PHONE>6068153333
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>50 E. RIVERCENTER BOULEVARD
<CITY>COVINGTON
<STATE>KY
<ZIP>41012
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ASHLAND OIL INC
<DATE-CHANGED>19920703
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ASHLAND OIL & REFINING CO
<DATE-CHANGED>19700806
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