Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On November 19, 2008, the Board of Directors of Ashland Inc. ("Ashland") elected J. William Heitman, age 54, Controller of Ashland, effective December 1, 2008. Mr. Heitman was named Vice President of Ashland as of November 10, 2008. Previously he served as controller for the North American operations of The Goodyear Tire & Rubber Company and as vice president of finance and interim chief financial officer of Ferro Corporation. Mr. Heitman replaces Lamar M. Chambers, as Controller. Mr. Chambers continues to serve as Senior Vice President and Chief Executive Officer of Ashland.

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