Ashland Inc. Names Porter Vice President, Finance, and Treasurer

COVINGTON, Ky., May 24 /PRNewswire-FirstCall/ -- Daragh L. Porter has been named Ashland Inc. (NYSE: ASH) vice president, finance, and treasurer effective immediately. The announcement was made by J. Marvin Quin, Ashland Inc. senior vice president and chief financial officer, to whom Porter will report. In her new role, Porter will add responsibility for investor relations to her current duties as treasurer.

 

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"As treasurer, Daragh manages significant debt and investment portfolios, has responsibility for Ashland's pension funds and manages relations with bankers, rating agencies and fixed income investors," said Quin. "This experience, coupled with her broad knowledge of financial markets and investment processes, makes her a natural for investor relations as we reposition Ashland," said Quin.

Before being named Ashland Inc. treasurer in December 2002, Porter had served as Ashland's general auditor since 2001. From January 1998 through November 2001, she had been with Marathon Ashland Petroleum (MAP), the joint venture with Marathon Oil Company that was formed in January 1998, first as manager, financial planning and treasurer, and then as president of Marathon Ashland Pipe Line LLC, a wholly owned subsidiary of MAP.

Porter's career at Ashland began in 1976 with Ashland's petroleum division serving in various accounting positions and then in various human resources positions. She became the controller of Ashland Petroleum's Scurlock Permian division in 1994 and vice president of Planning and Analysis in 1996.

Porter earned a Bachelor of Science degree in accounting in 1977 and a master's degree in business administration in 1984, both from Morehead State University. Porter also is a 1990 graduate of Indiana University's Executive Development Program and a 1996 graduate of Harvard University's Finance for Senior Executives program. She is a certified public accountant.

Porter has served on a variety of professional and civic boards and committees throughout her career. She currently serves as a member of Northern Kentucky University's School of Business Advisory Board and a member of the audit committee of the Cincinnati Symphony.

SOURCE  Ashland Inc.
    -0-                             05/24/2005
    /CONTACT:  Media Relations, Jim Vitak of Ashland Inc., +1-614-790-3715, or
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    /Web site:  http://www.ashland.com /
    (ASH)
CO:  Ashland Inc.
ST:  Kentucky
IN:  OIL
SU:  PER
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6913 05/24/2005 15:46 EDT http://www.prnewswire.com

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Statements in this press release regarding Ashland's business which are not historical
facts are "forward-looking statements" that involve risks and uncertainties. For a
discussion of such risks and uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see "Risk Factors" in the Company's
Annual Report or Form 10-K for the most recently ended fiscal year.