<SUBMISSION>
<ACCESSION-NUMBER>0000007694-03-000122
<TYPE>8-K
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<PERIOD>20030829
<ITEMS>5
<ITEMS>7
<FILING-DATE>20030829
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ASHLAND INC
<CIK>0000007694
<ASSIGNED-SIC>5160
<IRS-NUMBER>610122250
<STATE-OF-INCORPORATION>KY
<FISCAL-YEAR-END>0930
</COMPANY-DATA>
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<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-02918
<FILM-NUMBER>03873212
</FILING-VALUES>
<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
</FORMER-COMPANY>
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<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k829.txt
<DESCRIPTION>FORM 8-K
<TEXT>





                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549


                                    FORM 8-K

                                 CURRENT REPORT


                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


        Date of report (Date of earliest event reported): August 29, 2003


                                  ASHLAND INC.
             (Exact name of registrant as specified in its charter)


                                    Kentucky
                 (State or other jurisdiction of incorporation)

             1-2918                                61-0122250
    (Commission File Number)                    (I.R.S. Employer
                                               Identification No.)


   50 E. RiverCenter Boulevard, Covington, Kentucky            41012-0391
     (Address of principal executive offices)                  (Zip Code)


   P.O. Box 391, Covington, Kentucky                           41012-0391
          (Mailing Address)                                    (Zip Code)


        Registrant's telephone number, including area code (859) 815-3333



<PAGE>



Item 5.  Other Events
------   ------------

     On August 29, 2003,  Ashland Inc.  ("Ashland")  announced  that it has
completed  the  sale of its  Electronic  Chemicals  business  group  to Air
Products and Chemicals,  Inc. in a cash transaction valued at approximately
$300  million.  The  transaction  is  expected  to produce net cash flow of
roughly  $260  million and an  after-tax  gain in the  neighborhood  of $80
million.

     The  transaction  is  discussed  in more  detail in the press  release
attached hereto as Exhibit 99.1, which is incorporated  herein by reference
in its entirety.


Item 7.  Financial Statements and Exhibits
------   ---------------------------------

(c)      Exhibits

         99.1      Press Release dated August 29, 2003


                                    -2-

<PAGE>



                                 SIGNATURES
                                 ----------


     Pursuant to the  requirements of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.

                                                         ASHLAND INC.
                                           -----------------------------------
                                                        (Registrant)



    Date:  August 29, 2003                           /s/ J. Marvin Quin
                                           -----------------------------------
                                           Name:     J. Marvin Quin
                                           Title:    Senior Vice President and
                                                     Chief Financial Officer



                                    -3-

<PAGE>



                               EXHIBIT INDEX

                  99.1 Press Release dated August 29, 2003



                                    -4-
<PAGE>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>pressrel.txt
<DESCRIPTION>EX. 99.1 PRESS RELEASE
<TEXT>
                                                                Exhibit 99.1
                                FOR FURTHER INFORMATION:

                                Media Relations         Investor Relations
                                Margaret Thomson        Bill Henderson
                                859-815-3039            859-815-4494
                                mrthomson@ashland.com   wehenderson@ashland.com

                                FOR IMMEDIATE RELEASE
                                AUGUST 29, 2003

ASHLAND COMPLETES SALE OF
ELECTRONIC CHEMICALS BUSINESS GROUP

Covington,  Ky. - Ashland Inc.  (NYSE:ASH)  said today it has completed the
sale of its  Electronic  Chemicals  business  group  (ECD) to Air  Products
(NYSE:APD) in a cash transaction valued at approximately $300 million.

     The  transaction  is expected to produce net cash flow of roughly $260
million and an after-tax gain in the neighborhood of $80 million.  The gain
will be recorded in Ashland's  fiscal fourth quarter,  which ends September
30.

     "The  sale  is a  reflection  of our  strategic  repositioning,"  said
Chairman and Chief  Executive  Officer  James J.  O'Brien.  "In our ongoing
review of  assets,  we  concluded  that we could not  continue  to  compete
effectively in electronic  chemicals without making a major new investment.
Yet  electronic  chemicals  was not one of our  core  businesses.  The best
decision for our  shareholders  and for ECD was to sell this business group
and put the  assets  to work  elsewhere.  In  this  case,  we will  use the
proceeds to  strengthen  the balance sheet in pursuit of our goal to reduce
debt to 35 percent of total capital."

     Ashland Inc. is a Fortune 500 company  providing  products,  services,
and customer  solutions  throughout the world. Our businesses  include road
construction,  specialty chemicals, lubricants, car-care products, chemical
and plastics  distribution and transportation fuels. Through the dedication
of our  employees,  we are "The  Who In How  Things  Work(TM)."  Find us at
www.ashland.com.




                                      - 0 -

<PAGE>




</TEXT>
</DOCUMENT>
</SUBMISSION>
