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ASHLAND OIL TO REDEEM SINKING FUND DEBENTURES

 ASHLAND, Ky., May 17 /PRNewswire/ -- Ashland Oil, Inc. (NYSE: ASH) previously announced that it will fully redeem the outstanding principal amount of its 8.20 percent Sinking Fund Debentures, due 2002, of which approximately $40.8 million principal amount is outstanding.
 The redemption price will be at 102.05 percent of the principal amount, plus accrued interest.
 In addition, the company also will fully redeem its 8.80 percent Sinking Fund Debentures, due 2000, of which $22.5 million principal amount is outstanding. The redemption price will be at 100.71 percent of the principal amount, plus accrued interest.
 The redemption date for both issues will be June 24, 1993. On and after June 24, 1993, these debentures will cease to bear interest.
 The redemption agent is Citibank, N.A., Corporate Trust Services, 111 Wall St., fifth floor, New York, N.Y., 10043.
 Ashland Oil, Inc. is a diversified energy company engaged in petroleum refining, transportation and marketing; retail gasoline marketing; motor oil marketing; chemicals; coal; highway construction; and oil and gas exploration and production.
 -0- 5/17/93
 /CONTACT: Bill Hartl, investor relations, New York, 212-421-1250; or Roger Schrum, media relations, Ashland, 606-329-4061, both of Ashland Oil, Inc./
 (ASH)


CO: Ashland Oil, Inc. ST: Kentucky IN: OIL SU:

CD -- PG010 -- 9221 05/17/93 12:41 EDT
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Publication:PR Newswire
Date:May 17, 1993
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