<ARTICLE>  5
<LEGEND>             THIS SCHEDULE CONTAINS SUMMARY  FINANCIAL  INFORMATION
                     EXTRACTED  FROM ASHLAND INC.'S 1ST QUARTER 10-Q AND IS
                     QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 10-Q.
<MULTIPLIER>  1,000,000
       
                                                          
<PERIOD-TYPE>                                                3-MOS
<FISCAL-YEAR-END>                                            SEP-30-1995
<PERIOD-END>                                                 DEC-31-1994
<CASH>                                                                56
<SECURITIES>                                                           0
<RECEIVABLES>                                                      1,359
<ALLOWANCES>                                                          21
<INVENTORY>                                                          698
<CURRENT-ASSETS>                                                   2,259
<PP&E>                                                             5,951
<DEPRECIATION>                                                     3,109
<TOTAL-ASSETS>                                                     5,951
<CURRENT-LIABILITIES>                                              1,753
<BONDS>                                                            1,439
<COMMON>                                                              61
<PREFERRED-MANDATORY>                                                  0
<PREFERRED>                                                          293
<OTHER-SE>                                                         1,265
<TOTAL-LIABILITY-AND-EQUITY>                                       5,951
<SALES>                                                            2,768
<TOTAL-REVENUES>                                                   2,778
<CGS>                                                              2,415
<TOTAL-COSTS>                                                      2,415
<OTHER-EXPENSES>                                                     292
<LOSS-PROVISION>                                                       0
<INTEREST-EXPENSE>                                                    32
<INCOME-PRETAX>                                                       39
<INCOME-TAX>                                                          15
<INCOME-CONTINUING>                                                   35
<DISCONTINUED>                                                         0
<EXTRAORDINARY>                                                        0
<CHANGES>                                                              0
<NET-INCOME>                                                          35
<EPS-PRIMARY>                                                        .50
<EPS-DILUTED>                                                        .50