Cincinnati Financial Corporation Increases Regular Quarterly Cash Dividend

• Sets stage for 49^th consecutive year of higher dividends with 1 percent increase in indicated annual dividend rate

Cincinnati, August 17, 2009 — Cincinnati Financial Corporation (Nasdaq: CINF) today announced that the board of directors voted at its regular meeting on August 14, 2009, to increase the regular quarterly cash dividend from 39 cents to 39.5 cents per share, payable October 15, 2009, to shareholders of record as of September 18, 2009.

At the new level, the indicated annual dividend is $1.58 per share. In 2008, cash dividends paid were $1.53 per share and dividends declared were $1.56 per share. The company had 162,569,163 shares outstanding at June 30, 2009.

Kenneth W. Stecher, president and chief executive officer, commented, "The company has consistently increased dividends for 48 years, and the board of directors chose to continue that record for the benefit of our shareholders. This action demonstrates their confidence in our strong capital, liquidity and financial flexibility and in our initiatives to improve earnings performance.

"We have rebalanced our investment portfolio, positioning it to resume an increasing trend for growth and income. We are making major strides to improve pricing accuracy and policy administration efficiency for our property casualty insurance products, improving our service to agents and allowing for expense savings. Additionally, we are working to increase geographical diversification by expanding our insurance operations to new states and adding agencies in established states. Our long-term perspective drives our long-term commitment through all market and economic cycles to create value for shareholders by investing in and expanding our insurance operations."