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ASHLAND OIL TO REDEEM SINKING FUND DEBENTURES

 ASHLAND, Ky., May 14 /PRNewswire/ -- Ashland Oil, Inc. (NYSE: ASH) today 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.
 In addition, the company also will redeem its 8.80 percent sinking fund debentures, due 2000, of which $22.5 million principal amount is outstanding. 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 Street, 5th Floor, New York, NY, 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- 5/14/93
 /CONTACT: Martha Johnson, 606-329-4101, or William Hartl, 212-421-1250, both of Ashland Oil/
 (ASH)


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

KC -- PG017 -- 8803 05/14/93 16:55 EDT
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Publication:PR Newswire
Date:May 14, 1993
Words:176
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