UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Drew, Ernest H
2029 Las Tunas Rd
Santa Barbara, CA 93103
USA
2. Issuer Name and Ticker or Trading Symbol
Ashland Inc.
ASH
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
February 29, 2000
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |2-18-0|P | |3,000 |A |$31.125 |6,000 |D | |
|0 | | | | | | | | |
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Common Stock | | | | | | |1,000 (1) |D | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock Units (2)|1-for-1 | |J | |524 |A | | |Common Stock|524 | |3,215 |D | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
1. Stock options (represents a right to buy Ashland Common Stock) granted
pursuant to Ashland's Deferred Compensation and Stock Incentive Plan
for Non-Employee
Directors.
2. Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan
for Non-Employee Directors as of 1-31-00 and includes
transactions occurring on or after 9-30-99, payable in cash or stock upon
termination in service, and exempt under Rule 16b-3. The price of the
Common Stock Units on applicable acquisition dates has varied from $32.563 -
$32.938.
SIGNATURE OF REPORTING PERSON
Ernest H. Drew
DATE
March 8, 2000
