EXHIBIT 12
ASHLAND INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions)
																Six months ended
	Years ended September 30															March 31
	2007			2006			2005			2004			2003			2008				2007
EARNINGS
Income from continuing operations	$	201		$	183		$	1,958		$	311		$	103		$	110			$	84
Income taxes		58			29			(230	)		100			52			31				36
Interest expense		9			8			87			112			121			4				4
Interest portion of rental expense		20			18			20			20			20			11				10
Amortization of deferred debt expense		1			-			3			2			2			-				-
Distributions less than earnings of unconsolidated affiliates		(5	)		(6	)		(246	)		(260	)		(89	)		(6	)			(3	)
	$	284		$	232		$	1,592		$	285		$	209		$	150			$	131
FIXED CHARGES
Interest expense	$	9		$	8		$	87		$	112		$	121		$	4			$	4
Interest portion of rental expense		20			18			20			20			20			11				10
Amortization of deferred debt expense		1			-			3			2			2			-				-
Capitalized interest		2			3			1			-			-			-				1
	$	32		$	29		$	111		$	134		$	143		$	15			$	15
RATIO OF EARNINGS TO FIXED CHARGES		8.88			8.00			14.34			2.13			1.46			10.00				8.73