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): April 25, 2007


                                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 41011
            (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))


                                       -1-
<PAGE>


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

     During a conference  call and audio  webcast for  securities  analysts
held at 8:30  a.m.  EDT on April 25,  2007,  Ashland  Inc.'s  ("Ashland's")
chairman and chief  executive  officer,  James J. O'Brien,  its senior vice
president and chief financial  officer,  J. Marvin Quin, its vice president
and president, Ashland Distribution,  Theodore L. Harris, and its director,
investor  relations,  L. Dean Doza,  discussed  the  preliminary  financial
results for Ashland's  second  quarter  released and submitted in a current
report on Form 8-K filed  earlier that day. A transcript of this webcast is
attached hereto as Exhibit 99.1 and  incorporated  herein by reference.  An
archived  version of the webcast will be available on Ashland's  website at
www.ashland.com/investors for 12 months.

     The information in this report,  being furnished pursuant to Item 7.01
of Form 8-K,  shall not be deemed to be "filed" for  purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or
otherwise  subject  to  the  liabilities  of  that  Section,   and  is  not
incorporated  by reference in any filing under the  Securities Act of 1933,
as amended,  or the Exchange Act, except as expressly set forth by specific
reference in such filing.

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

(d)     Exhibits

99.1    Transcript of April 25, 2007, Webcast and Conference Call.



                                       -2-
<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)


April 26, 2007                   /s/ David L. Hausrath
                                -------------------------------------------
                                 David L. Hausrath
                                 Senior Vice President
                                 and General Counsel


                                       -3-

<PAGE>


                                  EXHIBIT INDEX

99.1    Transcript of April 25, 2007, Webcast and Conference Call.

                                       -4-
[{"type": "8-K", "sequence": "1", "filename": "form8k.txt", "description": "FORM 8-K", "secsgml_size_bytes": 4396}]
{"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": "07791375"}, "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): April 25, 2007

                                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 41011
            (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))

                                       -1-
Item 7.01.  Regulation FD Disclosure
----------  ------------------------

     During a conference  call and audio  webcast for  securities  analysts
held at 8:30  a.m.  EDT on April 25,  2007,  Ashland  Inc.'s  ("Ashland's")
chairman and chief  executive  officer,  James J. O'Brien,  its senior vice
president and chief financial  officer,  J. Marvin Quin, its vice president
and president, Ashland Distribution,  Theodore L. Harris, and its director,
investor  relations,  L. Dean Doza,  discussed  the  preliminary  financial
results for Ashland's  second  quarter  released and submitted in a current
report on Form 8-K filed  earlier that day. A transcript of this webcast is
attached hereto as Exhibit 99.1 and  incorporated  herein by reference.  An
archived  version of the webcast will be available on Ashland's  website at
www.ashland.com/investors for 12 months.

     The information in this report,  being furnished pursuant to Item 7.01
of Form 8-K,  shall not be deemed to be "filed" for  purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or
otherwise  subject  to  the  liabilities  of  that  Section,   and  is  not
incorporated  by reference in any filing under the  Securities Act of 1933,
as amended,  or the Exchange Act, except as expressly set forth by specific
reference in such filing.

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

(d)     Exhibits

99.1    Transcript of April 25, 2007, Webcast and Conference Call.

                                       -2-
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)

April 26, 2007                   /s/ David L. Hausrath
                                -------------------------------------------
                                 David L. Hausrath
                                 Senior Vice President
                                 and General Counsel

                                       -3-
EXHIBIT INDEX

99.1    Transcript of April 25, 2007, Webcast and Conference Call.

                                       -4-