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): July 26, 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 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
        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 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION

     On July 26, 2006,  Ashland  Inc.  ("Ashland")  posted the  information
contained in Exhibits 99.l and 99.2 on the "Investor  Relations" section of
its website  located at  www.ashland.com.  Exhibits  99.1 and 99.2  include
tables from a corporate fact sheet and a five year summary of operating and
net income,  each updated to reflect  Ashland's  financial  results for the
quarter  ended  June  30,  2006.  On July  28,  2006,  Ashland  posted  the
information  contained in Exhibit 99.3 on the "Investor  Relations" section
of its website revising the "Operating  Information" table in its corporate
fact  sheet  posted  to the  website  on July  26,  2006.  The  information
furnished gives  historical data for Ashland's newly  identified  segments,
Ashland Performance  Materials and Ashland Water  Technologies,  which were
previously  reported  together  as a single  segment,  the  former  Ashland
Specialty Chemical.

     The information in this report,  being furnished pursuant to Item 2.02
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  Tables from the Ashland Inc.  Fact Sheet as of June 30, 2006,  posted
      to website on July 26, 2006.

99.2  Five Year  Operating and Net Income Summary posted to website on July
      26, 2006.

99.3  Tables from the Ashland Inc.  Fact Sheet as of June 30, 2006,  posted
      to website on July 28, 2006.





                                    -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)



July 28, 2006                      /s/ J. Marvin Quin
                                   ----------------------------------------
                                   J. Marvin Quin
                                   Senior Vice President and
                                   Chief Financial Officer




                                      -3-


<PAGE>


                               EXHIBIT INDEX


99.1  Tables from the Ashland Inc.  Fact Sheet as of June 30, 2006,  posted
      to website on July 26, 2006.

99.2  Five Year  Operating and Net Income Summary posted to website on July
      26, 2006.

99.3  Tables from the Ashland Inc.  Fact Sheet as of June 30, 2006,  posted
      to website on July 28, 2006.



                                      -4-
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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): July 26, 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 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
        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 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION

     On July 26, 2006,  Ashland  Inc.  ("Ashland")  posted the  information
contained in Exhibits 99.l and 99.2 on the "Investor  Relations" section of
its website  located at  www.ashland.com.  Exhibits  99.1 and 99.2  include
tables from a corporate fact sheet and a five year summary of operating and
net income,  each updated to reflect  Ashland's  financial  results for the
quarter  ended  June  30,  2006.  On July  28,  2006,  Ashland  posted  the
information  contained in Exhibit 99.3 on the "Investor  Relations" section
of its website revising the "Operating  Information" table in its corporate
fact  sheet  posted  to the  website  on July  26,  2006.  The  information
furnished gives  historical data for Ashland's newly  identified  segments,
Ashland Performance  Materials and Ashland Water  Technologies,  which were
previously  reported  together  as a single  segment,  the  former  Ashland
Specialty Chemical.

     The information in this report,  being furnished pursuant to Item 2.02
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  Tables from the Ashland Inc.  Fact Sheet as of June 30, 2006,  posted
      to website on July 26, 2006.

99.2  Five Year  Operating and Net Income Summary posted to website on July
      26, 2006.

99.3  Tables from the Ashland Inc.  Fact Sheet as of June 30, 2006,  posted
      to website on July 28, 2006.

                                    -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)

July 28, 2006                      /s/ J. Marvin Quin
                                   ----------------------------------------
                                   J. Marvin Quin
                                   Senior Vice President and
                                   Chief Financial Officer

                                      -3-
EXHIBIT INDEX

99.1  Tables from the Ashland Inc.  Fact Sheet as of June 30, 2006,  posted
      to website on July 26, 2006.

99.2  Five Year  Operating and Net Income Summary posted to website on July
      26, 2006.

99.3  Tables from the Ashland Inc.  Fact Sheet as of June 30, 2006,  posted
      to website on July 28, 2006.

                                      -4-