Ashland Inc. and Consolidated Subsidiaries												Page 5
COMPONENTS OF INCOME FROM CONTINUING OPERATIONS
(In millions except per share data - unaudited)
		Three months ended June 30, 2005
					Businesses			Impact of MAP
					Sold and			Transaction
		Ongoing			Interest			and Debt
		Businesses			Eliminated			Repayments			Total
OPERATING INCOME
	APAC	$	46		$			$			$	46
	Ashland Distribution		36									36
	Ashland Specialty Chemical		41			2						43
	Valvoline		26			-						26
	Refining and Marketing		(19)			309						290
	Corporate		(31)									(31)
OPERATING INCOME			99			311			-			410
	Gain on the MAP Transaction		-						1,295			1,295
	Loss on early retirement of debt		-						(143)			(143)
	Net interest and other financial costs		(3)			(28)						(31)
INCOME FROM CONTINUING OPERATIONS
	BEFORE INCOME TAXES		96			283			1,152			1,531
	Income taxes		(38)			(110)			384			236
INCOME FROM CONTINUING OPERATIONS			58			173			1,536			1,767
	Results from discontinued operations		-									-
NET INCOME		$	58		$	173		$	1,536		$	1,767
DILUTED EARNINGS PER SHARE
	Income from continuing operations	$	.78		$	2.31		$	20.56		$	23.65
	Results from discontinued operations		-									-
	Net income	$	.78		$	2.31		$	20.56		$	23.65
		Nine months ended June 30, 2005
					Businesses			Impact of MAP
					Sold and			Transaction
		Ongoing			Interest			and Debt
		Businesses			Eliminated			Repayments			Total
OPERATING INCOME
	APAC	$	6		$			$			$	6
	Ashland Distribution		95									95
	Ashland Specialty Chemical		101			3						104
	Valvoline		68			1						69
	Refining and Marketing		(34)			520						486
	Corporate		(85)									(85)
OPERATING INCOME			151			524			-			675
	Gain on the MAP Transaction		-						1,295			1,295
	Loss on early retirement of debt		-						(145)			(145)
	Net interest and other financial costs		(7)			(82)						(89)
INCOME FROM CONTINUING OPERATIONS
	BEFORE INCOME TAXES		144			442			1,150			1,736
	Income taxes		(55)			(173)			385			157
INCOME FROM CONTINUING OPERATIONS			89			269			1,535			1,893
	Results from discontinued operations		-									-
NET INCOME		$	89		$	269		$	1,535		$	1,893
DILUTED EARNINGS PER SHARE
	Income from continuing operations	$	1.20		$	3.62		$	20.66		$	25.48
	Results from discontinued operations		-									-
	Net income	$	1.20		$	3.62		$	20.66		$	25.48