CINCINNATI FINANCIAL CORP — Director's Dealing 2006

Feb 6, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CINCINNATI FINANCIAL CORP (CINF)
CIK: 0000020286
Period of Report: 2006-02-02

Reporting Person: SCHIFF JOHN J JR (Director, PRESIDENT & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-01-17	Common Stock	G	50263	—	Disposed	3507241	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-02	Employee Stock Option (right to buy)	$45.26	A	50000	Acquired	2016-02-02	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4101921	Direct
Common Stock 401K	1487	Direct
Common Stock	107186	Indirect
Common Stock	114249	Indirect
Common Stock	49563	Indirect
Common Stock	563633	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$38.8	2014-01-19	Common Stock (55125)	55125	Direct
Employee Stock Option (right to buy)	$41.6285	2015-01-25	Common Stock (63000)	63000	Direct
Phantom Stock	$0	1988-08-08	Common Stock (11052)	11053	Direct
Stock Option	$26.95	2010-01-25	Common Stock (55125)	55125	Direct
Stock Option	$30.6	2009-01-27	Common Stock (115763)	115763	Direct
Stock Option	$30.72	2008-08-24	Common Stock (11025)	11025	Direct
Stock Option	$32.45	2013-02-01	Common Stock (55125)	55125	Direct
Stock Option	$32.81	2011-01-31	Common Stock (55125)	55125	Direct
Stock Option	$34.96	2012-01-28	Common Stock (55125)	55125	Direct
Stock Option	$41.14	2008-01-05	Common Stock (115763)	115763	Direct

Footnotes

F3: The option is exercisable in three equal annual installments beginning on the first anniversary of the date of grant.

F2: Shares are gifted quarterly from the Charitable Lead Annuity Trust.

F1: Share amounts and exercise prices have been adjusted for a 5% Stock Dividend, record date April 6, 2005, paid April 26, 2005.