Ashland Inc. Board Declares Regular Quarterly Dividend

COVINGTON, Ky., Nov 4, 2004 /PRNewswire-FirstCall via COMTEX/ -- The board of directors of Ashland Inc. (NYSE: ASH) today declared the regular quarterly dividend of 27.5 cents per common share on the company's stock, equivalent to an annual dividend of $1.10 per share.

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This action marks the 273rd consecutive quarterly dividend paid on common shares. Ashland began paying dividends in December 1936.

This dividend will be payable on December 15, 2004, to shareholders of record at the close of business on November 22, 2004. As of September 30, 2004, there were 71,579,163 shares outstanding.

Ashland Inc. (NYSE: ASH) is a Fortune 500 transportation construction, chemicals and petroleum company providing products, services and customer solutions throughout the world. To learn more about Ashland, visit http://www.ashland.com .

SOURCE Ashland Inc.

Media Relations, Jim Vitak, +1-614-790-3715, or
jevitak@ashland.com ; or Investor Relations, Bill Henderson, +1-859-815-4454,
or wehenderson@ashland.com
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