Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
TIMMEL TIMOTHY L
  2. Issuer Name and Ticker or Trading Symbol
CINCINNATI FINANCIAL CORP [CINF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
SR. VICE PRESIDENT / OPERATIONS
(Last)
(First)
(Middle)
6200 SOUTH GILMORE RD
3. Date of Earliest Transaction (Month/Day/Year)
01/28/2005
(Street)

FAIRFIELD, OH 45014-5141
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               5,220 D  
Common Stock - Trust 01/28/2005 01/28/2005 M   1,739 A $ 15.03 38,147 D  
Common Stock 401K               1,728 D  
Common Stock IRA               365 D  
Common Stock - Trust               32,836 I SPOUSE

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 40.75             01/19/2005 01/19/2014 Common Stock 15,750   15,750 D  
Employee Stock Option (right to buy) $ 43.71               (1) 01/25/2015 Common Stock 20,000   20,000 D  
Phantom Stock $ 0             08/08/1988 08/08/1988 Common Stock 5,857   5,857 D  
Stock Option $ 18.91             02/03/1997 02/03/2006 Common Stock 3,308   3,308 D  
Stock Option $ 19.52             04/06/1997 04/06/2006 Common Stock 15,750   15,750 D  
Stock Option $ 21.39             04/05/1998 04/05/2007 Common Stock 7,875   7,875 D  
Stock Option $ 21.9             04/15/1998 04/15/2007 Common Stock 7,875   7,875 D  
Stock Option $ 28.3             01/25/2001 01/25/2010 Common Stock 15,750   15,750 D  
Stock Option $ 32.14             01/27/2000 01/27/2009 Common Stock 15,750   15,750 D  
Stock Option $ 32.26             08/24/1999 08/24/2008 Common Stock 10,500   10,500 D  
Stock Option $ 34.08             02/01/2004 02/01/2013 Common Stock 15,750   15,750 D  
Stock Option $ 34.46             01/31/2002 01/31/2011 Common Stock 15,750   15,750 D  
Stock Option $ 36.71             01/28/2003 01/28/2012 Common Stock 15,750   15,750 D  
Stock Option $ 40.82             02/07/1999 02/07/2008 Common Stock 15,750   15,750 D  
Stock Option $ 15.03 01/28/2005 01/28/2005 M     1,739 02/04/1996 02/04/2005 Common Stock 1,739 $ 15.03 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
TIMMEL TIMOTHY L
6200 SOUTH GILMORE RD
FAIRFIELD, OH 45014-5141
      SR. VICE PRESIDENT OPERATIONS

Signatures

 TIMOTHY L TIMMEL   01/31/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The option is exercisable in three equal annual installments beginning on the first anniversary of the date of grant.

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