Ashland Inc. and Consolidated Subsidiaries													Page 4
OPERATING INFORMATION BY INDUSTRY SEGMENT
(Unaudited)
			Three months ended						Six months ended
			March 31						March 31
			2004			2003			2004			2003
APAC
	Construction backlog at March 31 (millions) (a)								$	1,897		$	1,800
	Net construction job revenues (millions) (b)		$	207		$	198		$	573		$	503
	Hot-mix asphalt production (million tons)			4.4			4.1			12.9			11.2
	Aggregate production (million tons)			6.1			5.0			12.9			12.1
	Ready-mix concrete production (million cubic yards)			0.5			0.4			0.9			0.9
ASHLAND DISTRIBUTION (c)
	Sales per shipping day (millions)		$	12.3		$	11.3		$	11.8		$	10.8
	Gross profit as a percent of sales			14.6%			15.0%			14.7%			15.4%
ASHLAND SPECIALTY CHEMICAL (c)
	Sales per shipping day (millions)		$	4.7		$	4.4		$	4.8		$	4.5
	Gross profit as a percent of sales			33.0%			33.4%			33.2%			34.2%
VALVOLINE
	Lubricant sales (million gallons)			47.5			48.6			91.9			92.9
	Premium lubricants (percent of U.S. branded volumes)			21.4%			18.8%			20.4%			17.9%
REFINING AND MARKETING (d)
	Refinery runs (thousand barrels per day)
		Crude oil refined		789			853			844			842
		Other charge and blend stocks		196			96			190			130
	Refined product yields (thousand barrels per day)
		Gasoline		552			483			582			525
		Distillates		235			257			266			268
		Asphalt		57			66			63			65
		Other		155			143			135			115
		Total		999			949			1,046			973
	Refined product sales (thousand barrels per day) (e)			1,307			1,280			1,331			1,293
	Refining and wholesale marketing margin (per barrel) (f)		$	1.44		$	1.71		$	1.58		$	1.82
	Speedway SuperAmerica (SSA)
		Retail outlets at March 31								1,773			2,005
		Gasoline and distillate sales (million gallons)		763			829			1,569			1,726
		Gross margin - gasoline and distillates (per gallon)	$	.1145		$	.1166		$	.1145		$	.1085
		Merchandise sales (millions) (g)	$	521		$	522		$	1,068		$	1,105
		Merchandise margin (as a percent of sales)		25.3%			25.5%			25.1%			24.8%
__________
(a)	Includes APAC's proportionate share of the backlog of unconsolidated joint ventures.
(b)	Total construction job revenues, less subcontract costs.
(c)	Sales are defined as sales and operating revenues. Gross profit is defined as sales and operating revenues, less cost
	of sales and operating expenses, and depreciation and amortization relative to manufacturing assets.
(d)	Amounts represent 100% of MAP's operations, in which Ashland owns a 38% interest.
(e)	Total average daily volume of all refined product sales to MAP's wholesale, branded and retail (SSA) customers.
(f)	Sales revenue less cost of refinery inputs, purchased products and manufacturing expenses, including depreciation.
(g)	Effective January 1, 2003, SSA adopted EITF 02-16, "Accounting by a Customer (Including a Reseller) for Certain
	Consideration Received from a Vendor," which requires rebates from vendors to be recorded as reductions to cost of
	sales. Rebates from vendors recorded in SSA merchandise sales for periods prior to January 1, 2003 have not been
	restated and included $46 million in the six months ended March 31, 2003.