UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
   Thomas, Richard P.

   50 E. RiverCenter Boulevard
   Covington, KY  41012-0391
2. Issuer Name and Ticker or Trading Symbol
   Ashland Inc.
   ASH
3. IRS or Social Security Number of Reporting Person (Voluntary)

4. Statement for Month/Year
   November 27, 2002
5. If Amendment, Date of Original (Month/Year)

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
   (specify below)
   Vice President:Secretary
7. Individual or Joint/Group Filing (Check Applicable Line)
   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person
___________________________________________________________________________________________________________________________________ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| Common Stock | | | | | | |5,199 (1) |I | | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock | | | | | | |3,317 (2) |I | | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | |or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | |Date |Expir| | |ficially |Ind| | |tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| | |Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | | |rity |Date |Code|V| Amount | |ble | | | |Month |(I)| | ___________________________________________________________________________________________________________________________________| Option (3) |39.00 | | | | | |9-19-|10-19|Common Stock|2,000 | |2,000 |D | | | | | | | | |97 |-06 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |39.00 | | | | | |9-19-|10-19|Common Stock|1,000 | |1,000 |D | | | | | | | | |98 |-06 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |39.00 | | | | | |9-19-|10-19|Common Stock|1,000 | |1,000 |D | | | | | | | | |99 |-06 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (4) |53.375 | | | | | |9-18-|10-18|Common Stock|2,500 | |2,500 |D | | | | | | | | |98 |-07 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |53.375 | | | | | |9-18-|10-18|Common Stock|1,250 | |1,250 |D | | | | | | | | |99 |-07 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |53.375 | | | | | |9-18-|10-18|Common Stock|1,250 | |1,250 |D | | | | | | | | |00 |-07 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (4) |48.00 | | | | | |9-17-|10-17|Common Stock|4,000 | |4,000 |D | | | | | | | | |99 |-08 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |48.00 | | | | | |9-17-|10-17|Common Stock|2,000 | |2,000 |D | | | | | | | | |00 |-08 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |48.00 | | | | | |9-17-|10-17|Common Stock|2,000 | |2,000 |D | | | | | | | | |01 |-08 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (4) |36.625 | | | | | |9-16-|10-16|Common Stock|10,000 | |10,000 |D | | | | | | | | |00 |-09 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |36.625 | | | | | |9-16-|10-16|Common Stock|10,000 | |10,000 |D | | | | | | | | |01 |-09 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |36.625 | | | | | |9-16-|10-16|Common Stock|10,000 | |10,000 |D | | | | | | | | |02 |-09 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |36.625 | | | | | |9-16-|10-16|Common Stock|10,000 | |10,000 |D | | | | | | | | |03 |-09 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (5) |36.38 | | | | | |9-20-|10-20|Common Stock|7,500 | |7,500 |D | | | | | | | | |02 |-11 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |36.38 | | | | | |9-20-|10-20|Common Stock|3,750 | |3,750 |D | | | | | | | | |03 |-11 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |36.38 | | | | | |9-20-|10-20|Common Stock|3,750 | |3,750 |D | | | | | | | | |04 |-11 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (5) |28.13 | | | | | |9-19-|10-19|Common Stock|7,500 | |7,500 |D | | | | | | | | |03 |-12 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |28.13 | | | | | |9-19-|10-19|Common Stock|3,750 | |3,750 |D | | | | | | | | |04 |-12 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |28.13 | | | | | |9-19-|10-19|Common Stock|3,750 | |3,750 |D | | | | | | | | |05 |-12 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock Units (6)|1-for-1 |11-27|J | |11 |A | | |Common Stock|11 |$28.450|663 |D | | | |-02 | | | | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: 1. Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as of 9-30-02. 2. Based on Employee Savings Plan information as of 9-30-02, based on the most recent information available. 3. Employee stock option (represents a right to buy Ashland Common Stock) granted pursuant to Ashland's 1993 Stock Incentive Plan. The employee stock option includes a tax withholding feature pursuant to the plan. 4. Employee stock option (represents a right to buy Ashland Common Stock) granted pursuant to Ashland's 1997 Stock Incentive Plan. The employee stock option includes a tax withholding feature pursuant to the plan. 5. Employee stock option (represents a right to buy Ashland Common Stock) granted pursuant to Ashland's Amended and Restated Incentive Plan. The employee stock option includes a tax withholding feature pursuant to the plan. 6. Common Stock Units acquired pursuant to Ashland's 1995 Deferred Compensation Plan as of 11-27-02, and exempt under Rule 16b-3(d). (One (1) Common Stock Unit in the 1995 Deferred Compensation Plan is the equivalent of one (1) share of Ashland Common Stock) SIGNATURE OF REPORTING PERSON M. Craig Hall - Attorney-in-Fact DATE December 2, 2002