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

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(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.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.