Exhibit 99.1
                                FOR FURTHER INFORMATION:

                                Media Relations         Investor Relations
                                Margaret Thomson        Bill Henderson
                                859-815-3039            859-815-4494
                                mrthomson@ashland.com   wehenderson@ashland.com

                                FOR IMMEDIATE RELEASE
                                AUGUST 29, 2003

ASHLAND COMPLETES SALE OF
ELECTRONIC CHEMICALS BUSINESS GROUP

Covington,  Ky. - Ashland Inc.  (NYSE:ASH)  said today it has completed the
sale of its  Electronic  Chemicals  business  group  (ECD) to Air  Products
(NYSE:APD) in a cash transaction valued at approximately $300 million.

     The  transaction  is expected to produce net cash flow of roughly $260
million and an after-tax gain in the neighborhood of $80 million.  The gain
will be recorded in Ashland's  fiscal fourth quarter,  which ends September
30.

     "The  sale  is a  reflection  of our  strategic  repositioning,"  said
Chairman and Chief  Executive  Officer  James J.  O'Brien.  "In our ongoing
review of  assets,  we  concluded  that we could not  continue  to  compete
effectively in electronic  chemicals without making a major new investment.
Yet  electronic  chemicals  was not one of our  core  businesses.  The best
decision for our  shareholders  and for ECD was to sell this business group
and put the  assets  to work  elsewhere.  In  this  case,  we will  use the
proceeds to  strengthen  the balance sheet in pursuit of our goal to reduce
debt to 35 percent of total capital."

     Ashland Inc. is a Fortune 500 company  providing  products,  services,
and customer  solutions  throughout the world. Our businesses  include road
construction,  specialty chemicals, lubricants, car-care products, chemical
and plastics  distribution and transportation fuels. Through the dedication
of our  employees,  we are "The  Who In How  Things  Work(TM)."  Find us at
www.ashland.com.




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