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                                                     Stan Lampe
                                                     (606) 329-4061 - Office
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                                                     FOR IMMEDIATE RELEASE
                                                     November 1, 1996


Ashland Inc. receives board nominations

Ashland, Ky. -- Providence Capital,  Inc., a New York-based financial
firm and a  stockholder  of record of 100 Ashland  Inc.  (NYSE:ASH)  common
shares,  has given formal notice to Ashland that they have nominated  three
individuals for election to Ashland's board of directors at the 1997 annual
shareholders meeting, to be held on Jan. 30, 1997.
         Providence   Capital  identified  the  nominees  as:  Lawrence  G.
Schafran,   chairman  of  the   executive   committee  of  the  Dart  Group
Corporation,  Landover,  Md.;  Kenneth  A.  Bouldin,  president  and  chief
executive officer of Economic Technology Solutions, Inc., Nashville, Tenn.;
and Robert J. Slater,  president,  Jackson  Consulting,  Inc.,  New Canaan,
Conn.
     Ashland  Inc.  is a large  energy  and  chemical  company  engaged  in
petroleum refining and marketing;  coal; highway construction;  and oil and
gas exploration and production. Ashland Chemical is the largest distributor
of  chemicals  and  plastics  in North  America  and a leading  supplier of
specialty  chemicals  worldwide.  Ashland's  major consumer  brands include
Valvoline-R-  motor oils,  Zerex-R-  antifreeze  and  Pyroil-R-  automotive
chemicals.  As one of  the  largest  independent  refiners  in the  nation,
Ashland  is  also a  leading  regional  gasoline  marketer,  with  products
marketed  under the  SuperAmerica-R-  and Ashland-R-  brand names.  

     Ashland's Internet address is http://www.ashland.com

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