Exhibit 99.1


                            FOR FURTHER INFORMATION:
                            Media Relations:          Investor Relations:
                            Margaret Thomson          Bill Henderson
                            (859) 815-3039            (859) 815-4454
                            mrthomson@ashland.com     wehenderson@ashland.com


                            FOR IMMEDIATE RELEASE
                            June 30, 2003


ASHLAND AGREES TO SELL ITS
ELECTRONIC CHEMICALS
BUSINESS GROUP TO AIR PRODUCTS


Covington,  Ky. -- Ashland Inc. (NYSE:ASH)  announced today it has signed a
definitive  agreement  to sell the net assets of its  Electronic  Chemicals
business and certain related  subsidiaries to Air Products in a transaction
valued at  approximately  $300  million  before  tax.  Ashland's  after-tax
proceeds will be used primarily to reduce debt.

     "This  transaction  will be a win  for all  parties,"  said  James  J.
O'Brien,  Ashland Chairman and Chief Executive  Officer,  in announcing the
agreement.  "Air Products  benefits  through  business  expansion,  and the
outlook  for  the  Electronic  Chemicals  business  and  employees  is much
stronger  as  part  of an  organization  that is  targeting  growth  in the
semiconductor industry."

     O'Brien  added  that  the  transaction   furthers  the   profitability
improvement  plan he  announced  in  October.  "The sale of the  Electronic
Chemicals  business  reflects our strategy to optimize our business mix and
focus greater attention on the remaining  specialty chemical businesses and
other  transportation-related  and  construction  operations  where  we can
achieve strategic advantage.  The transaction moves us significantly closer
to our goal of reducing debt to 35 percent of total capital," O'Brien said.
He confirmed the company expects to reach that target in fiscal 2004.

     Ashland  expects the transaction to close within 60 days. Both Ashland
and Air  Products  expect  a  seamless  transition  with no  disruption  in
customer  service or supply.  The  agreement  calls for  Ashland to provide
certain administrative  services during the transition period. Air Products
will assume  operations at manufacturing and sales facilities upon closing.
The closing is conditional  upon a number of standard  closing  conditions,
including several regulatory reviews.

     Electronic  Chemicals is a part of Ashland Specialty Chemical Company,
a wholly owned division of Ashland Inc. With revenues of approximately $200
million a year,  Electronic  Chemicals  provides  ultra pure  chemicals and
other products and services to the worldwide  semiconductor  industry.  The
business  employs  about 800 people and includes  three U.S.  manufacturing
locations in Pueblo,  Colo.;  Easton,  Pa.; and Dallas,  Texas,  as well as
facilities in Italy, South Korea and Taiwan. It

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also includes chemical  management  services on-site at customer locations,
and full-service  equipment parts cleaning,  refurbishment  and maintenance
services handled through facilities in Gilbert and Tempe, Ariz., and Austin
and Carrollton, Texas.

ABOUT ASHLAND

     Ashland Inc.  (NYSE:ASH) is a Fortune 500 company providing  products,
services and customer  solutions  throughout the world.  Businesses include
road  construction,  specialty  chemicals,  lubricants,  car-care products,
chemical and plastics  distribution and transportation  fuels.  Through the
dedication of its employees,  Ashland is "The Who In How Things  Work(TM)."
Find us at www.ashland.com.

ABOUT AIR PRODUCTS

     Air  Products  (NYSE:APD)  serves  customers  in  technology,  energy,
healthcare and  industrial  markets  worldwide  with a unique  portfolio of
products, services and solutions,  providing atmospheric gases, process and
specialty  gases,  performance  materials and chemical  intermediates.  The
company is the largest global supplier of electronic  materials,  hydrogen,
helium and select performance  chemicals.  Founded in 1940, Air Products is
recognized  for  its  innovative   culture,   operational   excellence  and
commitment  to safety and the  environment.  With  annual  revenues of $5.4
billion and operations in over 30 countries, the company's 17,200 employees
build lasting  relationships  with their customers and communities based on
understanding,   integrity  and  passion.   For  more  information,   visit
www.airproducts.com.

This news release contains forward-looking  statements,  within the meaning
of  Section  27A of the  Securities  Act of  1933  and  Section  21E of the
Securities  Exchange  Act of 1934,  with  respect  to  Ashland's  operating
performance,  earnings, and scope and effect of asbestos liabilities. These
estimates are based upon a number of assumptions, including those mentioned
within  this news  release.  Such  estimates  are also based upon  internal
forecasts and analyses of current and future market  conditions and trends,
management  plans  and  strategies,  weather,  operating  efficiencies  and
economic  conditions,  such  as  prices,  supply  and  demand,  cost of raw
materials,  and legal proceedings and claims  (including  environmental and
asbestos matters).  Although Ashland believes its expectations are based on
reasonable assumptions,  it cannot assure the expectations reflected herein
will  be  achieved.  This  forward-looking  information  may  prove  to  be
inaccurate  and  actual  results  may  differ   significantly   from  those
anticipated  if one or more of the underlying  assumptions or  expectations
proves to be inaccurate or is unrealized or if other unexpected  conditions
or events occur. Other factors and risks affecting Ashland are contained in
Ashland's  Form 10-K for the fiscal year ended Sept.  30, 2002, as amended.
Ashland  undertakes  no  obligation  to  subsequently  update or revise the
forward-looking  statements  made in this news release to reflect events or
circumstances after the date of this release.

(R)Registered trademark, Ashland Inc.
(TM)Trademark, Ashland Inc.


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