UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
   Thomas, Richard P.

   50 E. RiverCenter Boulevard
   Covington, KY  41012-0391
2. Issuer Name and Ticker or Trading Symbol
   Ashland Inc.
   ASH
3. IRS or Social Security Number of Reporting Person (Voluntary)

4. Statement for Month/Year
   December 27, 2002
5. If Amendment, Date of Original (Month/Year)

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
   (specify below)
   Vice President:Secretary
7. Individual or Joint/Group Filing (Check Applicable Line)
   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person


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 Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned                                                 |
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1. Title of Security       |2.    |3.    |4.Securities Acquired (A)         |5.Amount of        |6.Dir |7.Nature of Indirect       |
                           | Transaction |  or Disposed of (D)              |  Securities       |ect   |  Beneficial Ownership     |
                           |      |      |                                  |  Beneficially     |(D)or |                           |
                           |      |    | |                  | A/|           |  Owned at         |Indir |                           |
                           | Date |Code|V|    Amount        | D |    Price  |  End of Month     |ect(I)|                           |
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Common Stock               |      |    | |                  |   |           |5,199 (1)          |I     |                           |
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Common Stock               |      |    | |                  |   |           |3,317 (2)          |I     |                           |
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 Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned                                                   |
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1.Title of Derivative |2.Con-  |3.   |4.    |5.Number of De |6.Date Exer|7.Title and Amount  |8.Price|9.Number    |10.|11.Nature of|
  Security            |version |Transaction | rivative Secu |cisable and|  of Underlying     |of Deri|of Deriva   |Dir|Indirect    |
                      |or Exer |     |      | rities Acqui  |Expiration |  Securities        |vative |tive        |ect|Beneficial  |
                      |cise    |     |      | red(A) or Dis |Date(Month/|                    |Secu   |Securities  |(D)|Ownership   |
                      |Price of|     |      | posed of(D)   |Day/Year)  |                    |rity   |Benefi      |or |            |
                      |Deriva- |     |      |               |Date |Expir|                    |       |ficially    |Ind|            |
                      |tive    |     |      |           | A/|Exer-|ation|   Title and Number |       |Owned at    |ire|            |
                      |Secu-   |     |    | |           | D |cisa-|Date |   of Shares        |       |End of      |ct |            |
                      |rity    |Date |Code|V|  Amount   |   |ble  |     |                    |       |Month       |(I)|            |
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Option (3)            |39.00   |     |    | |           |   |9-19-|10-19|Common Stock|2,000  |       |2,000       |D  |            |
                      |        |     |    | |           |   |97   |-06  |            |       |       |            |   |            |
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                      |39.00   |     |    | |           |   |9-19-|10-19|Common Stock|1,000  |       |1,000       |D  |            |
                      |        |     |    | |           |   |98   |-06  |            |       |       |            |   |            |
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                      |39.00   |     |    | |           |   |9-19-|10-19|Common Stock|1,000  |       |1,000       |D  |            |
                      |        |     |    | |           |   |99   |-06  |            |       |       |            |   |            |
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Option (4)            |53.375  |     |    | |           |   |9-18-|10-18|Common Stock|2,500  |       |2,500       |D  |            |
                      |        |     |    | |           |   |98   |-07  |            |       |       |            |   |            |
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                      |53.375  |     |    | |           |   |9-18-|10-18|Common Stock|1,250  |       |1,250       |D  |            |
                      |        |     |    | |           |   |99   |-07  |            |       |       |            |   |            |
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                      |53.375  |     |    | |           |   |9-18-|10-18|Common Stock|1,250  |       |1,250       |D  |            |
                      |        |     |    | |           |   |00   |-07  |            |       |       |            |   |            |
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Option (4)            |48.00   |     |    | |           |   |9-17-|10-17|Common Stock|4,000  |       |4,000       |D  |            |
                      |        |     |    | |           |   |99   |-08  |            |       |       |            |   |            |
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                      |48.00   |     |    | |           |   |9-17-|10-17|Common Stock|2,000  |       |2,000       |D  |            |
                      |        |     |    | |           |   |00   |-08  |            |       |       |            |   |            |
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                      |48.00   |     |    | |           |   |9-17-|10-17|Common Stock|2,000  |       |2,000       |D  |            |
                      |        |     |    | |           |   |01   |-08  |            |       |       |            |   |            |
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Option (4)            |36.625  |     |    | |           |   |9-16-|10-16|Common Stock|10,000 |       |10,000      |D  |            |
                      |        |     |    | |           |   |00   |-09  |            |       |       |            |   |            |
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                      |36.625  |     |    | |           |   |9-16-|10-16|Common Stock|10,000 |       |10,000      |D  |            |
                      |        |     |    | |           |   |01   |-09  |            |       |       |            |   |            |
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                      |36.625  |     |    | |           |   |9-16-|10-16|Common Stock|10,000 |       |10,000      |D  |            |
                      |        |     |    | |           |   |02   |-09  |            |       |       |            |   |            |
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                      |36.625  |     |    | |           |   |9-16-|10-16|Common Stock|10,000 |       |10,000      |D  |            |
                      |        |     |    | |           |   |03   |-09  |            |       |       |            |   |            |
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Option (5)            |36.38   |     |    | |           |   |9-20-|10-20|Common Stock|7,500  |       |7,500       |D  |            |
                      |        |     |    | |           |   |02   |-11  |            |       |       |            |   |            |
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                      |36.38   |     |    | |           |   |9-20-|10-20|Common Stock|3,750  |       |3,750       |D  |            |
                      |        |     |    | |           |   |03   |-11  |            |       |       |            |   |            |
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                      |36.38   |     |    | |           |   |9-20-|10-20|Common Stock|3,750  |       |3,750       |D  |            |
                      |        |     |    | |           |   |04   |-11  |            |       |       |            |   |            |
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Option (5)            |28.13   |     |    | |           |   |9-19-|10-19|Common Stock|7,500  |       |7,500       |D  |            |
                      |        |     |    | |           |   |03   |-12  |            |       |       |            |   |            |
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                      |28.13   |     |    | |           |   |9-19-|10-19|Common Stock|3,750  |       |3,750       |D  |            |
                      |        |     |    | |           |   |04   |-12  |            |       |       |            |   |            |
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                      |28.13   |     |    | |           |   |9-19-|10-19|Common Stock|3,750  |       |3,750       |D  |            |
                      |        |     |    | |           |   |05   |-12  |            |       |       |            |   |            |
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Common Stock Units (6)|1-for-1 |12-27|J   | |11         |A  |     |     |Common Stock|11     |$27.860|685         |D  |            |
                      |        |-02  |    | |           |   |     |     |            |       |       |            |   |            |
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                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
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Explanation of Responses:
1.  Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as
of 9-30-02.
2. Based on Employee Savings Plan information as of 9-30-02, based on the most
recent information available.
3. Employee stock option (represents a right to buy Ashland Common Stock)
granted pursuant to Ashland's 1993 Stock Incentive Plan.  The employee stock
option includes a tax withholding feature
pursuant to the
plan.
4. Employee stock option (represents a right to buy Ashland Common Stock)
granted pursuant to Ashland's 1997 Stock Incentive Plan.  The employee stock
option includes a tax withholding feature
pursuant to the
plan.
5. Employee stock option (represents a right to buy Ashland Common Stock)
granted pursuant to Ashland's  Amended and Restated Incentive Plan.  The
employee stock option includes a tax
withholding feature pursuant to the
plan.
6. Common Stock Units acquired pursuant to Ashland's 1995 Deferred Compensation
Plan as of 12-27-02,  and exempt under Rule 16b-3(d).   (One (1) Common Stock
Unit in the 1995 Deferred
Compensation Plan is the equivalent of one (1) share of Ashland Common
Stock)
SIGNATURE OF REPORTING PERSON
Amelia A. McCarty - Attorney-in-Fact
DATE
December 30, 2002