Lens Letter to Ashland

August 12, 1999

Mr. David Hausrath

Secretary

Ashland, Inc.

50 East Rivercenter Boulevard

Covington, Kentucky 41012

Dear Mr. Hausrath:

I am the beneficial owner of 542 shares of the common stock of Ashland, Inc.  Of the total shares owned, 425 shares have been owned for more than one year.  I am submitting the enclosed shareholder resolution for inclusion in the company’s proxy for the 2000 annual meeting.  I intend to appear at the 2000 annual meeting in person or by proxy to propose this resolution.  If you have any questions, please do not hesitate to call.

Very truly yours,

Nell Minow

Shareholder of Ashland, and

Principal of Lens Investment Management, LLC

cc:   Paul Chellgren, CEO