Released January 29, 1999

Centre College Honors Paul Chellgren

DANVILLE, KY- Paul Chellgren, chairman and CEO of Ashland Inc. and a trustee of Centre College, was honored by the college this evening with his selection as Centre Associate of the Year. Chellgren received the award at a black tie dinner held in Louisville for a gathering of trustees, major donors and other friends of the college.

Centre gives the award each year to honor an individual markeê ideals of learning, leadership and service. Chellgren was selected on the basis of his personal work and corporate leadership in support of education, the arts and economic development.

Chellgren joined Ashland in 1974 as executive assistant to the chairman of the board and chief executive officer. He subsequently held a variety of executive posts with the Ashland Chemical Company until becoming senior vice president and group operating officer of Ashland Oil in 1980. He was named Ashland's president and chief operating officer in 1992 and four years later became chief executive officer. Chellgren was elected chairman of the board early in 1997.

Born in Tullahoma, Tenn., Chellgren earned a bachelor's degree from the University of Kentucky and a master's in business administration from Harvard University. He also has completed advanced study at Oxford University. Chellgren was a management consultant and held posts in London, England; Washington, D.C.; and a number of major U.S. cities before joining Ashland.

Chellgren holds directorships in Arch Coal Inc., PNC Bank Corp., and the American Petroleum Institute. He is a member of the Business Roundtable Policy Committee, the National Petroleum Council, the National Petroleum Refiners Association and the Society of the Chemical Industry. He is vice chairman of the National Foundation for Advancement in the Arts.

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