<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-30-1996
<PERIOD-END>                           DEC-31-1995
<CASH>                                 62
<SECURITIES>                           0
<RECEIVABLES>                          1,591
<ALLOWANCES>                           25
<INVENTORY>                            791
<CURRENT-ASSETS>                       2,639
<PP&E>                                 7,125
<DEPRECIATION>                         3,574
<TOTAL-ASSETS>                         7,035
<CURRENT-LIABILITIES>                  2,095
<BONDS>                                1,781
<COMMON>                               64
<PREFERRED-MANDATORY>                  0
<PREFERRED>                            293
<OTHER-SE>                             1,371
<TOTAL-LIABILITY-AND-EQUITY>           7,035
<SALES>                                3,079
<TOTAL-REVENUES>                       3,173
<CGS>                                  2,686
<TOTAL-COSTS>                          2,686
<OTHER-EXPENSES>                       312
<LOSS-PROVISION>                       0
<INTEREST-EXPENSE>                     43
<INCOME-PRETAX>                        132
<INCOME-TAX>                           44
<INCOME-CONTINUING>                    87
<DISCONTINUED>                         0
<EXTRAORDINARY>                        0
<CHANGES>                              0
<NET-INCOME>                           87
<EPS-PRIMARY>                          1.29
<EPS-DILUTED>                          1.16