THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Ashland Inc. (ASH)

12/9/2005 Proxy Information

Michael J. Ward, a director of Ashland, is Chairman of the Board and Chief Executive Officer of CSX Corporation (“CSX”). In fiscal 2005, Ashland paid CSX and its subsidiaries approximately $11 million for transportation services, and CSX paid Ashland approximately $158,000 for certain energy costs and products. As described above, MAP was a joint venture between Ashland and Marathon until June 30, 2005, upon consummation of the MAP Transaction. Marathon held a 62% interest in MAP, and Ashland held a 38% interest in MAP. In fiscal 2005, MAP paid CSX approximately $15 million for transportation services, and CSX paid MAP approximately $114 million for petroleum products.

George A. Schaefer, Jr., a director of Ashland, is President and Chief Executive Officer of Fifth Third Bancorp (“Fifth Third”). During fiscal 2005, Ashland paid Fifth Third Bank approximately $450,000 for routine banking services. Additionally, Ashland has standard revolving credit agreements with Fifth Third. There are no outstanding balances under these agreements.

Theodore M. Solso, a director of Ashland, is Chairman of the Board and Chief Executive Officer of Cummins Inc. (“Cummins”). During fiscal 2005, Ashland paid certain royalty payments to Cummins and its consolidated subsidiaries totaling approximately $800,000, and Cummins and certain of its dealers paid Ashland for goods and services supplied by Ashland totaling approximately $27 million. Ashland’s payments to Cummins principally reflect a royalty on sales of Valvoline’s Premium Blue E Engine Oil® co-branded products. The monies paid to Ashland by Cummins were primarily paid for the initial fill of the engines with oil and lubricants, as well as for lubricants supplied to Cummins and its distributors. Additionally, Valvoline and Cummins are partners in joint ventures in both India and China. The joint ventures market lubricants for servicing heavy duty engines and equipment.

12/14/2004 Proxy Information

In the normal course of business, Ashland has transactions with other corporations whose executive officers serve as directors of Ashland. In fiscal 2004, none of these transactions were reportable under applicable SEC rules. In addition, Ashland’s Board of Directors has concluded that the relationships between Ashland and the director-affiliated entities are immaterial pursuant to the Standards. Nevertheless, the transactions in fiscal 2004 are described below.

Mannie L. Jackson, a director of Ashland, is Chairman of the Board, Chief Executive Officer and owner of the Harlem Globetrotters International, Inc. (“Globetrotters”). During fiscal 2004, Ashland performed limited promotional tie-ins with the Globetrotters valued at approximately $25,000.

George A. Schaefer, Jr., a director of Ashland, is President and Chief Executive Officer of Fifth Third Bancorp and Fifth Third Bank (“Fifth Third”). During fiscal 2004, Ashland paid Fifth Third approximately $220,000 for routine banking services.

Theodore M. Solso, a director of Ashland, is Chairman of the Board and Chief Executive Officer of Cummins, Inc. During fiscal 2004, Ashland paid certain royalty payments to Cummins and its consolidated subsidiaries (“Cummins”) totalling approximately $900,000, and Cummins paid Ashland approximately $22 million for goods and services. Ashland’s payments to Cummins principally reflect a royalty on sales of Valvoline’s Premium Blue Engine Oil® co-branded products. The monies paid to Ashland by Cummins were primarily paid for the initial fill of the engines with oil and lubricants, as well as for lubricants supplied to Cummins. Additionally, Valvoline and Cummins are partners in joint ventures in both India and China. The joint ventures market lubricants for servicing heavy duty engines and equipment.

Michael J. Ward, a director of Ashland, is Chairman of the Board, President and Chief Executive Officer of CSX Corporation (“CSX”). In fiscal 2004, Ashland paid CSX and its subsidiaries approximately $9.7 million for transportation services, and CSX paid Ashland approximately $120,000 for certain energy costs and products. Marathon Ashland Petroleum LLC (“MAP”) is a joint venture between Ashland and Marathon Oil Company (“Marathon”). Marathon holds a 62% interest in MAP, and Ashland holds a 38% interest in MAP. In fiscal 2004, MAP paid CSX approximately $12 million for transportation services, and CSX paid MAP approximately $100 million for petroleum products.

12/5/2003 Proxy Information

During fiscal 2001, the firm of Cravath, Swaine & Moore, of which Mr. Butler is a member, was paid for legal services rendered to Ashland and certain of its subsidiaries.