Cincinnati Financial Corporation Presentation at New York Society of Security Analysts.

NEW YORK--(BUSINESS WIRE)--Dec. 7, 1998--The following is a summary of a presentation today, Monday, at the New York Society of Security Analysts by John J. Schiff, Jr., CPCU, COO and Chairman of the Board and Theodore F. Elchynski, CFO of Cincinnati Financial Corporation.

Cincinnati Financial Corporation Executives Address New York Society of Security Analysts; Property and Casualty Insurer's Presentation Focuses On Strength

Cincinnati Financial Corporation (Nasdaq:CINF) today took its message of strength and stability on the road.

COO and Chairman of the Board John J. Schiff, Jr., CPCU, and CFO Theodore F. Elchynski spoke to the New York Society of Security Analysts. Cincinnati Financial is the 21st-largest publicly traded property and casualty insurer in the nation, based on revenues.

"Our record reflects a strong competitive position, an effective and efficient network of independent agents, continued expansion into new markets and a successful, equity-driven investment strategy," Schiff said.

Cincinnati Financial currently markets its insurance products through 973 independent agencies. In 1999, company executives will travel to 28 cities for sales meetings across Cincinnati Financial's 29-state operating territory.

Schiff and Elchynski touched on several themes: -0-

--   The company's commitment to independent agent distribution.
--   Financial strength. This includes ratings of A++ from A.M. Best;
     AA+ from Standard & Poor's; and Aa3 from Moody's. Ward's
     Financial Group placed both Cincinnati Insurance and Cincinnati
     Life on the Benchmark 50 lists for excellence in balancing safety
     and performance.
--   Top rankings in consumer and agent surveys.
--   Cincinnati Financial's addition in 1997 to the S&P 500 Index.
--   Long-term investment potential. A $4,000 investment in 100 shares
     in 1950 would today be 194,667 CINF shares valued at more than
     $7.2 million after stock dividends and splits.
--   Market value of Cincinnati Financial's investment portfolio was
     $9.1 billion on September 30.
--   Net written premium growth of 6.4% for 1997 -- 3.2% above the
     industry average. For the nine months ended September 30, growth
     of net written premium was 4.7%.
--   22.2% compound growth in book value over the past five years.
--   Aggressive growth strategies, including continued roll-out of new
     products.

"We expect to continue to grow profitably and further enhance shareholder value," Elchynski said.

Cincinnati Financial Corporation offers property and casualty insurance, its main business, through The Cincinnati Insurance Company, The Cincinnati Casualty Company and The Cincinnati Indemnity Company. The Cincinnati Life Insurance Company markets life, health and accident insurance. The Cincinnati Financial Corporation Investment Company supports the subsidiaries and their independent agents though leasing and financing activities.