Ashland Inc. : Ashland Inc. announces completion of senior notes offering

  Ashland Inc. : Ashland Inc. announces completion of senior notes offering

February 26, 2013

COVINGTON, Ky. - Ashland Inc. (NYSE:  ASH) announced today that it has  closed 
its previously announced offering of  $600 million aggregate principal  amount 
of 3.000% senior notes  due 2016, $700 million  aggregate principal amount  of 
3.875% senior  notes due  2018,  $650 million  aggregate principal  amount  of 
4.750% senior notes due  2022 and $350 million  aggregate principal amount  of 
6.875% senior  notes  due  2043  (collectively,  the  Notes).  The  Notes  are 
unsecured, unsubordinated obligations of Ashland.

Ashland used  the net  proceeds of  the Notes  offering (after  deducting  the 
initial purchasers' discounts and other fees and expenses), together with cash
on hand, (i) to  prepay $1.21 billion  of the term loan  A facility under  the 
senior secured credit facility,  (ii) to pay off  in full the remaining  $1.03 
billion outstanding under the  term loan B facility  under the senior  secured 
credit facility and  (iii) to pay  $52 million to  terminate certain  interest 
rate  swaps  entered  into  in  connection  with  the  senior  secured  credit 
facility. The  remaining principal  amount outstanding  under Ashland's  term 
loan A facility  is $200 million.  In connection with  the completion of  the 
Notes offering  and  the foregoing  use  of proceeds,  Ashland  reaffirms  its 
expectation that  fiscal  2013  interest  expense  under  U.S.  GAAP  will  be 
approximately $180 million, excluding expenses associated with the  prepayment 
of debt and the termination of related interest rate swaps.

The Notes were offered in the United States to qualified institutional  buyers 
pursuant to  Rule 144A  under the  Securities  Act of  1933, as  amended  (the 
Securities Act), and outside the United States pursuant to Regulation S  under 
the Securities Act. The  Notes have not been  registered under the  Securities 
Act and may not be offered or  sold in the United States without  registration 
or an applicable exemption from the registration requirements.

This news release shall not constitute an offer to sell, or a solicitation of
an offer to buy, any security, including the Notes. No offer, solicitation, or
sale will be made in any jurisdiction in which such an offer, solicitation, or
sale would be unlawful.

About Ashland

In more than 100 countries, the people of Ashland Inc. (NYSE: ASH) provide the
specialty chemicals, technologies  and insights to  help customers create  new 
and improved products for  today and sustainable  solutions for tomorrow.  Our 
chemistry is at work every day in a wide variety of markets and  applications, 
including architectural coatings, automotive,  construction, energy, food  and 
beverage,  personal  care,  pharmaceutical,   tissue  and  towel,  and   water 
treatment. Visit to see the innovations we offer through our  four 
commercial units - Ashland Specialty Ingredients, Ashland Water  Technologies, 
Ashland Performance Materials and Ashland Consumer Markets.

Forward-Looking Statements

This news release  contains forward-looking statements  within the meaning  of 
Section 27A of the Securities Act of 1933, as amended, and Section 21E of  the 
Securities Exchange Act of  1934, as amended. Ashland  has identified some  of 
these forward-looking statements with words such as "anticipates," "believes,"
"expects," "estimates," "may," "will," "should" and "intends" and the negative
of these words or other comparable terminology. In addition, Ashland may  from 
time  to  time  make  forward-looking  statements  in  its  filings  with  the 
Securities and Exchange Commission (SEC), news releases and other written  and 
oral communications. These forward-looking  statements are based on  Ashland's 
expectations and  assumptions,  as  of  the date  such  statements  are  made, 
regarding Ashland's future operating performance and financial condition,  the 
economy and other future events  or circumstances. Ashland's expectations  and 
assumptions include, without  limitation, internal forecasts  and analyses  of 
current  and  future  market  conditions  and  trends,  management  plans  and 
strategies, operating efficiencies  and economic conditions  (such as  prices, 
supply and  demand,  cost  of  raw  materials,  and  the  ability  to  recover 
raw-material  cost  increases   through  price  increases),   and  risks   and 
uncertainties   associated   with   the   following:   Ashland's   substantial 
indebtedness (including  the possibility  that such  indebtedness and  related 
restrictive covenants  may  adversely  affect  Ashland's  future  cash  flows, 
results of operations,  financial condition  and its ability  to repay  debt), 
severe weather, natural disasters, and legal proceedings and claims (including
environmental and asbestos matters). Various risks and uncertainties may cause
actual results to differ materially from those stated, projected or implied by
any forward-looking  statements,  including,  without  limitation,  risks  and 
uncertainties affecting Ashland  that are  described in its  most recent  Form 
10-K (including Item 1A Risk Factors)  filed with the SEC, which is  available 
on Ashland's website at or on the SEC's website at Ashland  believes  its expectations  and  assumptions  are 
reasonable, but  there can  be no  assurance that  the expectations  reflected 
herein will  be achieved.  Ashland undertakes  no obligation  to  subsequently 
update any forward-looking statements made  in this news release or  otherwise 
except as required by securities or other applicable law.


Media Relations:
Gary Rhodes
+1 (859) 815-3047

Investor Relations:
Jason Thompson
+1 (859) 815-4454


This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.

Source: Ashland Inc. via Thomson Reuters ONE
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