Cincinnati Financial Corporation Declares Regular Quarterly Cash Dividend

Cincinnati, August 18, 2008 — Cincinnati Financial Corporation (Nasdaq: CINF) today announced that the board of directors has declared a 39 cents per share regular quarterly cash dividend payable October 15, 2008, to shareholders of record as of September 19, 2008. The current dividend level reflects the 9.9 percent increase in the quarterly dividend rate announced by the board in February. That action set the stage for the 48^th consecutive increase in the annual cash dividend.

Kenneth W. Stecher, president and chief executive officer, commented, “The board declared another quarterly cash dividend at the level established in February. The board supports management’s view that our solid insurance operations will continue to contribute to our earnings and that our investment operations can sustain our financial position. The board indicated that its intention remains to continue rewarding shareholders with cash dividends that rise consistently.

“Our capital position and cash flow continue to support our current cash dividend payout. We expect the company’s performance will allow these measures to remain at a level that provides our board the flexibility to consider future increases for our shareholders,” Stecher said.