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): July 26, 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







Item 7.  Financial Statements and Exhibits
------   ---------------------------------

(c)      Exhibits

99.1     Press Release dated July 26, 2004

Item 12.  Results of Operations and Financial Condition
-------   ---------------------------------------------

     On July 26, 2004,  Ashland Inc. reported its third quarter fiscal 2004
results,  which are discussed in more detail in the press release  attached
hereto as Exhibit 99.1.  This  information is furnished in accordance  with
Securities and Exchange Commission Release No. 33-8216.







                                 SIGNATURES
                                 ----------


     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:  July 26, 2004                           /s/ J. Marvin Quin
                                         -----------------------------------
                                         Name:     J. Marvin Quin
                                         Title:    Senior Vice President and
                                                   Chief Financial Officer








                               EXHIBIT INDEX
                               -------------

99.1     Press Release dated July 26, 2004