CINCINNATI, Sept. 20, 2000 -- Cintas Corporation today reported that total revenue for its fiscal first quarter ended August 31, 2000, was up 14 percent to $522 million from $457 million a year ago. First quarter net income of $50.8 million, gained 18 percent compared to $43.2 million in last year's first quarter. Earnings per share increased 20% to 30 cents per share (diluted).

"First quarter results continued the positive momentum of fiscal 2000, with strong contributions from all areas of our business," said Richard T. Farmer, chairman and founder of Cintas. "We continue to build on that momentum by leveraging our business base and taking advantage of the tremendous opportunities in our markets."

Cintas' uniform rental revenue was up 13 percent from last year's first quarter. Other services revenue, which includes direct sale of uniforms as well as other products and services, also was up, increasing 17 percent over a year ago. "Our growth demonstrates the great value that our services provide to our customers," Farmer said. "People are looking to us for their uniforms, and they're also relying on us for other important services, such as entrance mats, hygiene supplies and first aid and safety services. Cintas focuses on these details that help make customers' workplaces cleaner, safer and more pleasant for employees and customers."

Cintas has reported 31 consecutive years of uninterrupted growth in sales and profits, and Farmer noted that first quarter 2001 results bode well for continuation of that record.

Results Verify Market Opportunity

The nation's shift to a service economy, along with the growing power of the uniform, has positively impacted the uniform industry in general and Cintas in particular. The uniform rental market as a whole has grown at an average annual rate of 6.3 percent over the past 10 years, more than twice the GDP rate of growth.

"This is a new world of service, and a new world of opportunity for Cintas," said Chief Executive Officer Robert J. Kohlhepp. "The majority of our new rental customers are companies that are adopting uniform programs for the first time. That tells us more and more businesses are recognizing the benefits uniforms deliver in terms of morale, productivity and corporate image."

The service economy also creates opportunities for Cintas in its other services divisions. During the first quarter of 2001, Cintas introduced Xpect First Aid, a new flagship brand that leverages the Company's product expertise and proven distribution system.

"Our network of 250 locations and 4,000 service sales representatives keeps us in regular contact with more than 400,000 business customers. The combination of our distribution system and our strong customer relationships is a core competence, which provides a platform from which we can launch additional businesses quickly and economically. Xpect is a prime example of how Cintas can expand in new, profitable business niches," Kohlhepp said. "These other business areas represent 25 percent of our total revenue and we continue to seek opportunities to enhance their performance."

Growth Helps Bolster Bottom-Line

In addition to healthy sales growth, Cintas also showed nice improvement in gross margins. Kohlhepp said those results reflect, in large part, the benefits gained from the completion of the Unitog consolidation. "The consolidation was completed more than a year ahead of schedule, and we are beginning to reap the rewards of that effort," he noted. "The synergies created by combining our two organizations allow us to work more efficiently and serve our customers more effectively."

The net margin was 9.7 percent in the first quarter, compared with 9.4 percent last year, as Cintas continued to invest in sales and marketing efforts, including expansion of the sales force. "We plan to continue to expand our customer base by broader use of radio and print advertising in key markets," Kohlhepp said.

"Cintas has one of the largest distribution systems in North America and our sales representatives are in regular contact with more than 400,000 business customers," Kohlhepp continued. "That attention to customer relationships gives Cintas a competitive advantage, and is part of the reason that Cintas is the largest company in the corporate identity uniform industry."

Focus on Long-Term Value for Shareholders and Working Partners

At August 31, 2000, total assets were $1.6 billion compared with $1.4 billion a year earlier. Shareholders' equity reached $1.1 billion, up from $917 million. Total debt to capitalization was 19.4 percent at August 31, 2000.

"Cintas is well-positioned to excel, both today and tomorrow," Farmer said. "We are a broader-based service company than ever before. And, we remain focused on our principal objective, which is to maximize the long-term value of Cintas for our shareholders and working partners by exceeding our customers' expectations. That commitment keeps us true to our roots and confident about our future."

About Cintas

Headquartered in Cincinnati, Ohio, Cintas Corporation is a leader in the corporate identity uniform industry and also provides a wide range of ancillary services, including entrance mats, sanitation supplies, clean room services, and first aid products and services. Cintas is a publicly held company traded over the Nasdaq National Market under the symbol CTAS. Every day, more than 4 million people go to work in a Cintas uniform. Cintas recently was recognized as a "Moody's Dividend Achiever" and one of "America's Finest Companies" as determined by the Staton Institute. The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements. This news release contains forward-looking statements that reflect the Company's current views as to future events and financial performance with respect to its operations. These statements are subject to risks and uncertainties which could cause actual results to differ materially from those set forth in this press release. Factors that might cause such a difference include the possibility of greater than anticipated operating costs, lower sales volumes, the performance and costs of integration of acquisitions, fluctuations in costs of materials and labor, the outcome of pending environmental matters, higher assumed sourcing or distribution costs of products and the reactions of competitors in terms of price and service. Forward-looking statements speak only as of the date made. Cintas undertakes no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date of which they are made.