Item 7.01. Regulation FD Disclosure

In connection with the unregistered offering by Ashland Inc. (the "Company") of $600 million of unsecured senior notes due 2017 referred to in Item 8.01 below, the Company has indicated that, as part of its current business strategy, the Company is focused upon strengthening its position in its core specialty chemicals businesses, while reducing its investment in non-core businesses. In addition, the Company is focused upon generating cash for the purpose of paying down its outstanding debt. One potential method of accomplishing both objectives is through the divestiture of non-core and non-strategic businesses, and the Company is exploring the sale of a number of such businesses, including businesses that are significant contributors to its overall revenues and profitability. Currently, the Company is at different stages with respect to various possible transactions, and is not able to accurately assess at this time the likely timing of any potential transaction or whether any significant transactions will, in fact, be completed. It is the Company's intention that the net proceeds from any such divestitures would be used to pay down debt.

Item 8.01. Other Items

Today, the Company issued a news release announcing that it intends to make an unregistered offering of $600 million of unsecured senior notes due 2017. The news release is attached hereto as Exhibit 99.1.