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Ashland Completes Acquisition of Hercules
Date:11/13/2008

Five commercial units' pro forma revenue exceeds $10 billion

COVINGTON, Ky. and WILMINGTON, Del., Nov. 13 /PRNewswire-FirstCall/ -- Ashland Inc. (NYSE: ASH) today completed its acquisition of Hercules Incorporated, creating a leading specialty chemicals company serving many of the world's most essential needs and industries. Each share of Hercules common stock outstanding was exchanged for $18.60 in cash and 0.093 of a share of Ashland common stock. A letter of transmittal and instructions for exchanging Hercules shares for shares of Ashland stock and cash consideration will be mailed shortly to the Hercules shareholders of record at the close of business on Nov. 13, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040113/ASHLANDLOGO )

"This is a landmark day for our combined employees, customers, shareholders and all those with whom we interact," said James J. O'Brien, Ashland chairman and chief executive officer. "Together, we now begin working to build an exciting new future, confident that our people, technologies, products and services will drive our growth for years to come."

Transformation overview

Ashland now comprises a core of three specialty chemical businesses that will drive the company both strategically and financially, generating approximately 75 percent of total EBITDA on a pro forma basis. These businesses -- paper and water technologies, specialty resins, and specialty additives and functional ingredients -- hold strong market positions and promising global growth potential. Ashland's logistics efficiencies and well-developed marketing capabilities in consumer markets complement its core businesse
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SOURCE Ashland Inc.
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