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Ashland Inc. Announces Receipt of Consents from Noteholders, Satisfaction of a Closing Condition to the MAP Transaction and Expiration of the Consent Payment Deadline for all Noteholders.

Article Excerpt
COVINGTON, Ky., June 16 /PRNewswire-FirstCall/ -- Ashland Inc. ("Ashland") announced today that as of 5:00 p.m., New York time on June 15, 2005, it has received irrevocable consents to proposed amendments in respect of series of notes representing approximately 98.7% of the aggregate principal amount of debt issued and outstanding as of May 31, 2005, under the Indenture relating to such notes (with consent of 66 2/3% of the aggregate principal amount of a series of notes constituting the consent for the entire series of notes and the consent of less than 66 2/3% of any series of notes not being considered the consent of any debt of that series of notes), as further described in Ashland's Offer to Purchase and Consent Solicitation Statement and related Letter of Transmittal and Consent dated June 1, 2005 (the "Offer to Purchase"). Receipt of such consents satisfies a condition to Ashland's obligation to proceed with the series of transactions that, among other things, effect the transfer of its interest in Marathon Ashland Petroleum LLC ("MAP") to a wholly owned subsidiary of Marathon Oil Corporation. The aggregate principal amount of such notes as of May 31, 2005, was $1,149.1 million.

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As of 5:00 p.m., New York time, on June 15, 2005, holders of at least 66 2/3% of the aggregate principal amount of each of the following series of Ashland's outstanding notes (having the CUSIP Nos. specified in the table below under the caption "Consenting Notes"): 6.625% Senior Notes, 8.80% Debentures, Series E Medium-Term Notes, Series F Medium-Term Notes, Series G Medium-Term Notes, 6.86% Series H Medium-Term Notes and 7.83% Series J Medium- Term Notes (collectively,...

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