SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                                    FORM 8-K

                                 CURRENT REPORT


                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


       Date of report (Date of earliest event reported): December 21, 2004


                                  ASHLAND INC.
             (Exact name of registrant as specified in its charter)


                                    Kentucky
                 (State or other jurisdiction of incorporation)

              1-2918                                         61-0122250
       (Commission File Number)                          (I.R.S. Employer
                                                        Identification No.)


   50 E. RiverCenter Boulevard, Covington, Kentucky          41012-0391
           (Address of principal executive offices)          (Zip Code)


           P.O. Box 391, Covington, Kentucky                 41012-0391
                   (Mailing Address)                         (Zip Code)


        Registrant's telephone number, including area code (859) 815-3333

Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act 
   (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act 
   (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the 
    Exchange Act (17 CFR 240.13e-4(c))


Item 7.01  Regulation FD Disclosure
---------  ------------------------

     On December  21,  2004,  Ashland  Inc.  ("Ashland")  will  include the
information  contained in exhibit 99.1 on the "Investor  Relations" section
of its  website  located  at  www.ashland.com.  Ashland is  furnishing  the
information  pursuant to the Securities and Exchange  Commission's  ("SEC")
Regulation  FD. The  information  contained in exhibit 99.1  includes  five
years  (fiscal  years 2000 - 2004) of  supplemental  financial  information
concerning  Ashland and its consolidated  subsidiaries.  The information is
intended to be considered in the context of Ashland's SEC filings and other
public announcements that Ashland may make from time to time.

     By filing this report on Form 8-K,  Ashland  makes no  admission as to
the  materiality of any  information in this report.  Ashland  reserves the
right to discontinue the  availability of the data in the attached  exhibit
from its website at any time.

                                      -2-



Item 9.01  Financial Statements and Exhibits
---------  ---------------------------------

(c)      Exhibits

99.1     5-Year Supplemental Financial Information posted to Ashland Inc.'s
         Website






                                 SIGNATURE


     Pursuant to the  requirements of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.

                                                      ASHLAND INC.            
                                          -----------------------------------
                                                      (Registrant)



    Date:  December 21, 2004                      /s/ J. Marvin Quin
                                          -----------------------------------
                                          Name:     J. Marvin Quin
                                          Title:    Senior Vice President
                                                    and Chief Financial Officer


                                    -3-





                               EXHIBIT INDEX

99.1     5-Year  Supplemental  Financial  Information  posted to  Ashland's
         website