Ashland Inc. and Consolidated Subsidiaries													Page 4
OPERATING INFORMATION BY INDUSTRY SEGMENT
(Unaudited)
			Three months ended						Nine months ended
			June 30						June 30
			2004			2003			2004			2003
APAC
	Construction backlog at June 30 (millions) (a)								$	1,869		$	1,824
	Net construction job revenues (millions) (b)		$	409		$	402		$	982		$	904
	Hot-mix asphalt production (million tons)			9.9			9.8			22.7			21.0
	Aggregate production (million tons)			8.1			7.6			21.0			19.7
	Ready-mix concrete production (million cubic yards)			0.4			0.6			1.4			1.5
ASHLAND DISTRIBUTION (c)
	Sales per shipping day (millions)		$	13.3		$	11.6		$	12.3		$	11.1
	Gross profit as a percent of sales			14.4%			15.1%			14.6%			15.3%
ASHLAND SPECIALTY CHEMICAL (c)
	Sales per shipping day (millions)		$	5.6		$	4.9		$	5.1		$	4.6
	Gross profit as a percent of sales			30.7%			33.1%			32.3%			33.8%
VALVOLINE
	Lubricant sales (million gallons)			50.0			49.2			141.3			142.2
	Premium lubricants (percent of U.S. branded volumes)			22.0%			19.8%			21.0%			18.5%
REFINING AND MARKETING (d)
	Refinery runs (thousand barrels per day)
		Crude oil refined		1,013			951			900			878
		Other charge and blend stocks		142			129			174			130
	Refined product yields (thousand barrels per day)
		Gasoline		623			582			596			544
		Distillates		323			292			285			276
		Asphalt		85			76			70			69
		Other		138			138			136			123
		Total		1,169			1,088			1,087			1,012
	Refined product sales (thousand barrels per day) (e)			1,440			1,346			1,367			1,311
	Refining and wholesale marketing margin (per barrel) (f)		$	5.27		$	2.94		$	2.87		$	2.21
	Speedway SuperAmerica (SSA)
		Retail outlets at June 30								1,746			1,802
		Gasoline and distillate sales (million gallons)		802			882			2,371			2,608
		Gross margin - gasoline and distillates (per gallon)	$	.1192		$	.1229		$	.1161		$	.1134
		Merchandise sales (millions) (g)	$	600		$	590		$	1,668		$	1,695
		Merchandise margin (as a percent of sales)		23.4%			23.9%			24.4%			24.4%
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(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 nine months ended June 30, 2003.