X0202 4 2007-01-26 0001305014 ASHLAND INC. ASH 0001166070 HALE ROGER W 2915 INDIGOBUSH WAY NAPLES FL 34105 1 0 0 0 Restricted Stock Units 2007-01-26 4 A 0 1472 67.91 A Common Stock 1472 1472 D Each Restricted Stock Unit represents a right to receive one (1) share of Ashland Common Stock. Grant of deferred Restricted Stock Units pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors, and exempt under Rule 16b-3. The Restricted Stock Units will vest one year after date of grant and will be payable in cash or stock upon termination of service. (One (1) Restricted Stock Unit in the Deferred Compensation Plan for Non-Employee Directors is the equivalent of one (1) share of Ashland Common Stock.) David B. Mattingly, Attorney-in-Fact 2007-01-30