UNITED STATES
                     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): January 25, 2006

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

                                  Kentucky
               (State or other jurisdiction of incorporation)

                       1-32532                               20-0865835
              (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 2230.425)
[  ]    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))


<PAGE>



Item 7.01.  Regulation FD Disclosure

   On  January  25,  2006,  Ashland  Inc.   ("Ashland")  will  include  the
information contained in Exhibits 99.1 and 99.2 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.  Exhibits 99.1 and 99.2 include five years (fiscal
years  2001 - 2005) and first  quarter  fiscal  2006 of  operating  and net
income  summary  information  and five  years  (fiscal  years  2001 - 2005)
supplemental  financial information concerning Ashland and its consolidated
subsidiaries.  The  information is being  furnished to revise  prior-period
segment  operating  income to reflect the change in allocation  methodology
adopted  by Ashland  effective  October  2005,  whereby  substantially  all
corporate  expenses are allocated to Ashland's  four  operating  divisions,
with the exception of certain  legacy costs or items clearly not associated
with the operating divisions.  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-
<PAGE>


Item 9.01.  Financial Statements and Exhibits

(c)     Exhibits

99.1    5-Year Operating & Net Income Summary posted to Ashland Inc.'s website
99.2    5-Year Supplemental Financial Information posted to Ashland Inc.'s
        website



                                    -3-
<PAGE>




                                 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:  January 25, 2006                  /s/ J. Marvin Quin
                               --------------------------------------------
                               Name:     J. Marvin Quin
                               Title:    Senior Vice President and
                                         Chief Financial Officer






                                    -4-
<PAGE>


                               EXHIBIT INDEX

99.1   5-Year Operating & Net Income Summary posted to Ashland Inc.'s website
99.2   5-Year Supplemental Financial Information posted to Ashland's website






                                    -5-
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{"company-data": {"conformed-name": "ASHLAND INC.", "cik": "0001305014", "assigned-sic": "5160", "irs-number": "200865835", "state-of-incorporation": "KY", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32532", "film-number": "06549749"}, "business-address": {"street1": "50 EAST RIVERCENTER BLVD., 16TH FLOOR", "city": "COVINGTON", "state": "KY", "zip": "41012", "phone": "859-815-3483"}, "mail-address": {"street1": "50 EAST RIVERCENTER BLVD., 16TH FLOOR", "city": "COVINGTON", "state": "KY", "zip": "41012"}, "former-company": {"former-conformed-name": "New EXM Inc.", "date-changed": "20041004"}}
UNITED STATES
                     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): January 25, 2006

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

                                  Kentucky
               (State or other jurisdiction of incorporation)

                       1-32532                               20-0865835
              (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 2230.425)
[  ]    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  January  25,  2006,  Ashland  Inc.   ("Ashland")  will  include  the
information contained in Exhibits 99.1 and 99.2 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.  Exhibits 99.1 and 99.2 include five years (fiscal
years  2001 - 2005) and first  quarter  fiscal  2006 of  operating  and net
income  summary  information  and five  years  (fiscal  years  2001 - 2005)
supplemental  financial information concerning Ashland and its consolidated
subsidiaries.  The  information is being  furnished to revise  prior-period
segment  operating  income to reflect the change in allocation  methodology
adopted  by Ashland  effective  October  2005,  whereby  substantially  all
corporate  expenses are allocated to Ashland's  four  operating  divisions,
with the exception of certain  legacy costs or items clearly not associated
with the operating divisions.  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 Operating & Net Income Summary posted to Ashland Inc.'s website
99.2    5-Year Supplemental Financial Information posted to Ashland Inc.'s
        website

                                    -3-
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:  January 25, 2006                  /s/ J. Marvin Quin
                               --------------------------------------------
                               Name:     J. Marvin Quin
                               Title:    Senior Vice President and
                                         Chief Financial Officer

                                    -4-
EXHIBIT INDEX

99.1   5-Year Operating & Net Income Summary posted to Ashland Inc.'s website
99.2   5-Year Supplemental Financial Information posted to Ashland's website

                                    -5-