Ashland Inc. completes previously announced sale of PVAc business to Celanese Corporation

FOR IMMEDIATE RELEASE

January 3, 2012

 COVINGTON, Ky. - Ashland Inc. (NYSE: ASH) today said it has completed the previously announced sale of its polyvinyl acetate homopolymer and copolymer (PVAc) business to Celanese Corporation. The proposed transaction included the transfer of the PVAc business, inventory and related technology. The sale does not include any real estate or manufacturing facilities.  No purchase price was disclosed.

Ashland's PVAc business includes two brands, Flexbond(TM) and Vinac(TM) emulsions. To better support the transition, the products will be temporarily toll manufactured for Celanese.

Ashland Performance Materials is the global leader in unsaturated polyester resins and vinyl ester resins. In addition, it provides customers with leading technologies in gelcoats, pressure-sensitive and structural adhesives.

In more than 100 countries, the people of Ashland Inc. (NYSE: ASH) provide the specialty chemicals, technologies and insights to help customers create new and improved products for today and sustainable solutions for tomorrow. Our chemistry is at work every day in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, food and beverage, personal care, pharmaceutical, tissue and towel, and water treatment. Visit www.ashland.com to see the innovations we offer through our four commercial units - Ashland Specialty Ingredients, Ashland Water Technologies, Ashland Performance Materials and Ashland Consumer Markets.

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FOR FURTHER INFORMATION:

Gary Rhodes

(859) 815-3047

glrhodes@ashland.com

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