<ARTICLE>  5
<LEGEND>             THIS SCHEDULE CONTAINS SUMMARY  FINANCIAL  INFORMATION
                     EXTRACTED   FROM  ASHLAND   INC.'S  ANNUAL  REPORT  TO
                     SHAREHOLDERS  FOR THE FISCAL YEAR ENDED  SEPTEMBER 30,
                     1998,  WHICH RESTATED AND  RECLASSIFIED  CERTAIN PRIOR
                     YEAR  AMOUNTS,  AND IS  QUALIFIED  IN ITS  ENTIRETY BY
                     REFERENCE TO SUCH ANNUAL REPORT.
<MULTIPLIER>  1,000,000
       
                                                     
<PERIOD-TYPE>                                           YEAR
<FISCAL-YEAR-END>                                       SEP-30-1996
<PERIOD-END>                                            SEP-30-1996
<CASH>                                                           70
<SECURITIES>                                                      0
<RECEIVABLES>                                                 1,585
<ALLOWANCES>                                                     27
<INVENTORY>                                                     678
<CURRENT-ASSETS>                                              2,539
<PP&E>                                                        5,306
<DEPRECIATION>                                                2,671
<TOTAL-ASSETS>                                                6,496
<CURRENT-LIABILITIES>                                         2,067
<BONDS>                                                       1,653
<COMMON>                                                         64
<PREFERRED-MANDATORY>                                             0
<PREFERRED>                                                     293
<OTHER-SE>                                                    1,457
<TOTAL-LIABILITY-AND-EQUITY>                                  6,496
<SALES>                                                      12,313
<TOTAL-REVENUES>                                             12,412
<CGS>                                                        10,796
<TOTAL-COSTS>                                                10,796
<OTHER-EXPENSES>                                                  0
<LOSS-PROVISION>                                                 10
<INTEREST-EXPENSE>                                              151
<INCOME-PRETAX>                                                 208
<INCOME-TAX>                                                     72
<INCOME-CONTINUING>                                             136
<DISCONTINUED>                                                   75
<EXTRAORDINARY>                                                   0
<CHANGES>                                                         0
<NET-INCOME>                                                    211
<EPS-PRIMARY>                                                  3.00
<EPS-DILUTED>                                                  2.96