Filed under Rule 424(b)(2)
                                              Registration No. 33-57011


    Pricing Supplement No. 1 Dated May 4, 1995
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    To  Prospectus Dated April 24, 1995 and 
        Prospectus Supplement Dated April 24, 1995

                                        $200,000,000

                                         ASHLAND INC.

                                 MEDIUM-TERM NOTES, SERIES G

                        Due from 9 Months or More from Date of Issue

                          Principal Amount:           $20,000,000

                  (Total Principal Amount Issued to Date:     $20,000,000)


          Original Issue Date:                          May 11, 1995 
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          Maturity Date:                                May 11, 2007
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          Interest Rate:                                      7.71%
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    Redemption:

    Check box opposite applicable paragraph.

     [ x ]      The Notes cannot be redeemed prior to maturity.

     [   ]      The Notes may be redeemed prior to maturity. 


    Initial Redemption Date:

          The optional Redemption Price on and after the Initial Redemption
    Date shall initially be      % of the principal  amount of the Notes to
    be  redeemed and  shall  decline  at each  anniversary of  the  Initial
    Redemption Date by       % of the principal amount to be redeemed until
    the Optional Redemption Price is 100% of such principal amount.

    Commission to be paid to Agent.                        $ 120,000.00
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