X0201 42003-12-1500000007694ASHLAND INC ASH0001166069WATERS FRANK L5200 BLAZER PARKWAYDUBLINOH430170100Vice PresidentCommon Stock149DCommon Stock1601I401(k)Common Stock670ILESOPCommon Stock Units02003-12-154J012541.67ACommon Stock12525069D20 of these shares are held in Ashland's Open Enrollment Dividend Reinvestment and Stock Purchase Plan as of 9-15-03.Based on Employee Savings Plan information as of 12-15-03, the latest date for which such information is reasonably available.Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as of 11-30-03.1-for-1Common Stock Units acquired pursuant to Ashland's 1995 Deferred Compensation Plan as of 12-15-03, payable in cash or stock upon termination of service and exempt under Rule 16b-3. (One (1) Common Stock Unit in the 1995 Deferred Compensation Plan is the equivalent of one (1) share of Ashland Common Stock)M. Craig Hall2003-12-17