X0202 4 2005-06-15 0 0000007694 ASHLAND INC ASH 0001166069 WATERS FRANK L 0 1 0 0 Vice President Common Stock 2005-06-16 4 M 0 1000 39 A 1152 D Common Stock 2005-06-16 4 M 0 10000 36.625 A 11152 D Common Stock 2005-06-16 4 M 0 16875 28.13 A 28027 D Common Stock 2005-06-16 4 M 0 7500 34 A 35527 D Common Stock 2005-06-16 4 S 0 35375 69.529 D 152 D Common Stock 1824 I 401(K) Common Stock 670 I LESOP Stock Options (Right to buy) 28.13 2005-06-16 4 M 0 16875 69.529 D 2003-09-19 2012-10-19 Common Stock 16875 5625 D Stock Options (Right to buy) 34 2005-06-16 4 M 0 7500 69.529 D 2004-09-18 2013-10-18 Common Stock 7500 7500 D Stock Options (Right to buy) 36.625 2005-06-16 4 M 0 10000 69.529 D 2000-09-16 2009-10-16 Common Stock 10000 0 D Stock Options (Right to buy) 39 2005-06-16 4 M 0 1000 69.529 D 1997-09-19 2006-10-19 Common Stock 1000 0 D Common Stock Units 0 2005-06-15 4 J 0 76 69.62 A Common Stock 76 25628 D 25 of these shares are held in Ashland's Open Enrollment Dividend Reinvestment and Stock Purchase Plan as of 6-15-05. Based on Employee Savings Plan information as of 6-15-05, the latest date for which such information is reasonably available. Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as of 6-15-05. Employee stock option (represents a right to buy Ashland Common Stock) granted pursuant to Ashland's Amended and Restated Incentive Plan which vests in three annual installments: 50% after the 1st year, the next 25% the 2nd year and the remaining 25% the 3rd year. The employee stock option includes a tax withholding feature pursuant to the plan. Employee stock option (represents a right to buy Ashland Common Stock) granted pursuant to Ashland's 1997 Stock Incentive Plan which vests in three annual installments: 50% after the 1st year, the next 25% the 2nd year and the remaining 25% the 3rd year. The employee stock option includes a tax withholding feature pursuant to the plan. Employee stock option (represents a right to buy Ashland Common Stock) granted pursuant to Ashland's 1993 Stock Incentive Plan which vests in three annual installments: 50% after the 1st year, the next 25% the 2nd year and the remaining 25% the 3rd year. The employee stock option includes a tax withholding feature pursuant to the plan. 1-for-1 Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan as of 6-15-05, and exempt under Rule 16b-3(d). (One (1) Common Stock Unit in the Deferred Compensation Plan is the equivalent of one (1) share of Ashland Common Stock.) Jami K. Suver, Attorney-in-Fact 2005-06-17