UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
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
   September 30, 2000
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 Reporting (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 | |Date |Code| | Beneficially |(D)or | | | | | | A/| | Owned at |Indir | | | | | Amount | D | Price | End of Year |ect(I)| | ___________________________________________________________________________________________________________________________________| Common Stock | | | | | |966 |D | | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock | | | | | |6,029 (1) |I |By Trustee | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock | | | | | |4,088 (2) |I |By Trustee | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ 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 |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |ice 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 | | | Amount | |ble | | | |Year |(I)| | ___________________________________________________________________________________________________________________________________| Option (3) |35.875 | | | | |9-15-|10-15|Common Stock|1,000 | |1,000 |D | | | | | | | |97 |-04 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option (3) |33.875 | | | | |9-21-|10-21|Common Stock|1,000 | |1,000 |D | | | | | | | |97 |-05 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| |33.875 | | | | |9-21-|10-21|Common Stock|1,000 | |1,000 |D | | | | | | | |98 |-05 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| 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 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock Units (5) |1-for-1 | |J |205 |A | | |Common Stock|205 | |956 |D | | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________|
Explanation of Responses: 1. Shares of Ashland Common Stock accrued under Ashland's Leveraged Employee Stock Ownership Plan as of 9-30-00. 2. Based on Employee Savings Plan information as of 9-30-00 and includes transactions on or after 5-1-00. 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. Common Stock Units acquired pursuant to Ashland's 1995 Deferred Compensation Plan as of 9-30-00 and includes transactions on or after 4-28-00, payable in cash or stock upon termination of service and exempt under Rule 16b-3(d). The price of the Common Stock Units on applicable valuation dates has varied from $32.813 - $35.750. SIGNATURE OF REPORTING PERSON Richard P. Thomas DATE October 19, 2000