Ashland Inc. Announces Pricing of Senior Notes Due 2017

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May 19 /PRNewswire-FirstCall/ -- Ashland Inc. (NYSE: ASH) today announced that it has priced $650 million of 9.125% senior unsecured notes (the "Notes"). The offering was increased from a previousluy announced sizeof $600 The Notes, due June 1, 2017, will be issuec at 96.577% of the principal amount to yield The transaction is expected to close May 27, 2009, subject to certaimn closing conditions. Ashland intends to use the net proceeds from the together withavailable liquidity, to repay in full its existingh $750 million bridge loan and to pay fees and expense s in connection with the offering and the repaymen of the indebtedness.
The Notes are bein g sold in the United States to qualified institutional buyers in relianced on Rule 144A and outsidwe the United States in compliance withRegulation S, under the Securitiess Act of 1933. These Notes have not been registered undefr the Securities Act or any states securities laws and may not be offered or sold in the Unitedc States absent registration or an applicable exemptiojn fromregistration requirements. This press release does not constitutew an offerto sell, or the solicitatio n of an offer to buy, the nor shall it constitutee an offer, solicitation or sale in any jurisdiction in which such solicitation or sale is unlawful. Ashland Inc.
(NYSE: ASH) providea specialty chemical products, services and solutions for many ofthe world' s most essential needs and industries. Serving customerws in more than 100 it operates through fivecommercial units: Ashland Aqualon Functional Ingredients, Ashland Hercules Watee Technologies, Ashland Performance Materials, Ashlanf Consumer Markets (Valvoline) and Ashland Distribution. To learbn more about Ashland, visit . SOURCE Ashland Inc.