For SEC Filing Purposes:
Filed under Rule 424(b)(3)
Registration No. 333-70651
Pricing Supplement No. 1 Dated February 8, 2000
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To Prospectus Dated March 10, 1999 and
Prospectus Supplement Dated September 3, 1999
$300,000,000
ASHLAND INC.
MEDIUM-TERM NOTES, SERIES I
Due 9 Months or More from Date of Issue
Principal Amount: $50,000,000
Original Issue Date: February 14, 2000
Maturity Date: February 14, 2003
Interest Rate: Floating Rate
Initial Interest Rate: LIBOR + 60 basis points
Base Rate: LIBOR Telerate
Index Currency: U.S. Dollars
Index Maturity: 3 Months
Spread: + 60 basis points
Interest Payment Dates: Each May 14, August 14,
November 14, and February 14,
beginning May 14, 2000
Interest Reset Dates: Each May 14, August 14,
November 14, and February 14,
beginning May 14, 2000
Redemption:
Check box opposite applicable paragraph.
|_| The Notes cannot be redeemed prior to maturity.
|X| The Notes may be redeemed prior to maturity.
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Initial Redemption Date: February 14, 2001 and thereafter
on a quarterly basis on each Interest
Payment Date
The Optional Redemption Price on and after the Initial Redemption Date
shall be 100% of the principal amount of the Notes to be redeemed.
Commission to be paid to agent:
Wachovia Securities, Inc. $70,000
Salomon Smith Barney Inc. $105,000
Use of Proceeds:
The proceeds from the sale of these Notes will be used to refund debt
related to the acquisition of the U.S. construction operations of Superfos
a/s.
