<ARTICLE>  5
<LEGEND>     THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
             FROM ASHLAND INC.'S 1ST QUARTER 10-Q AS RESTATED AND IS QUALIFIED
             IN ITS ENTIRETY BY REFERENCE TO SUCH 10-Q AND NOTE D OF NOTES TO
             CONDENSED CONSOLIDATED FINANCIAL STATEMENTS IN ASHLAND INC.'S 2ND
             QUARTER 10-Q THAT EXPLAINS THE RESTATEMENT.
<MULTIPLIER> 1,000,000
       
                           
<PERIOD-TYPE>                 3-MOS
<FISCAL-YEAR-END>             SEP-30-1995
<PERIOD-END>                  DEC-31-1994
<CASH>                                 57
<SECURITIES>                            0
<RECEIVABLES>                       1,430
<ALLOWANCES>                           21
<INVENTORY>                           729
<CURRENT-ASSETS>                    2,385
<PP&E>                              6,809
<DEPRECIATION>                      3,374
<TOTAL-ASSETS>                      6,646
<CURRENT-LIABILITIES>               1,891
<BONDS>                             1,614
<COMMON>                               61
<PREFERRED-MANDATORY>                   0
<PREFERRED>                           293
<OTHER-SE>                          1,265
<TOTAL-LIABILITY-AND-EQUITY>        6,646
<SALES>                             2,924
<TOTAL-REVENUES>                    2,939
<CGS>                               2,551
<TOTAL-COSTS>                       2,551
<OTHER-EXPENSES>                      297
<LOSS-PROVISION>                        0
<INTEREST-EXPENSE>                     38
<INCOME-PRETAX>                        53
<INCOME-TAX>                           16
<INCOME-CONTINUING>                    35
<DISCONTINUED>                          0
<EXTRAORDINARY>                         0
<CHANGES>                               0
<NET-INCOME>                           35
<EPS-PRIMARY>                         .50
<EPS-DILUTED>                         .50