FOR FURTHER INFORMATION:

                                         Chuck Rice
                                         (606) 329-3895

                                         FOR IMMEDIATE RELEASE
                                         May 21, 1997

Ashland chairman remarks on sale
of Blazer Energy Corp. domestic assets

     Ashland,  Ky. -- Ashland Inc.  (NYSE:ASH)  announced  today the sale of
Blazer Energy  Corporation's  domestic exploration and production assets to
the Norwegian  energy company Statoil  through its U.S.  energy  management
subsidiary, The Eastern Group, Inc.
     "We  are  extremely  pleased  with  this  transaction,"  said  Paul W.
Chellgren,  chairman and chief executive  officer,  Ashland Inc. "This cash
sale has  potential to build  shareholder  value in several ways  including
debt reduction and accelerated  investment in our growth areas. We are also
pleased that the Statoil affiliates have indicated that they hope to retain
a large number of Blazer Energy employees.
    "While we have not formulated specific plans for the proceeds from the
sale,   we  intend  to   continue  to  follow  our   previously   announced
profitability  improvement  plan  and  redirect  freed  capital  to  growth
businesses,   including   Ashland  Chemical   Company,   the  APAC  highway
construction group and Valvoline."
     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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