X0202 4 2007-03-15 0001305014 ASHLAND INC. ASH 0001166069 WATERS FRANK L 5200 BLAZER PARKWAY DUBLIN OH 43017 0 1 0 0 Vice President Common Stock 159 D Common Stock 8 I 401(k) Common Stock 565 I LESOP Common Stock Units 0 2007-03-15 4 J 0 120 64.03 A Common Stock 120 34034 D Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as of 3-15-2007. Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan as of 3-15-07, 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.) 1-for-1 Based on Employee Savings Plan information as of 3-15-07, the latest date for which such information is reasonably available. 30 of these shares are held in Ashland's Open Enrollment Dividend Reinvestment and Stock Purchase Plan as of 3-15-07. David B. Mattingly, Attorney-in-Fact 2007-03-19