Cintas Corporation Achieves 37th Consecutive Year of Growth in Revenue and Earnings; Total Revenue of $3.4 billion, increase of 11%; Earnings per Diluted Share increases 11.5%

For the fourth quarter ended May 31, 2006, revenue was $908 million, a 12.2 percent increase over prior year fourth quarterrevenue of $809 million. Fourth quarter net income of $92 millionincreased 10.8 percent from $83 million in last year's fourth quarter,and earnings per diluted share increased 14.6 percent to $0.55 perdiluted share from $0.48 per diluted share in last year's fourthquarter.

Scott D. Farmer, President and Chief Executive Officer, stated, "Iam proud to report another record year at Cintas. By striving toexceed our customers' expectations on a daily basis, our 32,000employee partners have provided Cintas with our 37th consecutive yearof growth in both revenue and earnings.

"We continue to become a more valuable resource to our customersby taking care of important details for them, adding new products andservices as we find opportunity. For example, during our fiscal year2006 we added a restroom cleaning service, a service we call SanisUltraClean, to our growing list of business services. After an initialtest of this service, we have successfully rolled out this new servicethroughout the United States and Canada. This service is just anotherexample of how we continue to evolve as 'Cintas, The ServiceProfessionals'. Our expanding distribution network now extends to over93% of the population in the United States and Canada. Be it uniformrental or sales programs, entrance mat programs, restroom supply orcleaning services, first aid and safety supplies, fire protectionequipment and services or document management services, we believe allbusinesses in North America can use at least one, and many times morethan one, of the products and services that we offer."

During February 2006, Cintas announced the acquisition of certainassets of Van Dyne Crotty, Inc. In providing an update on thatacquisition, Mr. Farmer commented, "We have been very pleased withthis acquisition and are at or ahead of schedule in all aspects ofassimilating their business with ours. As of May 31, 2006, the VanDyne Crotty corporate functions have been completely assimilated intoCintas."

Mr. Farmer stated, "We continue to be excited about the growthopportunities in all of our businesses. We currently serviceapproximately 700,000 business customers, the majority of whom onlyuse one or two of our services. In addition there are approximately 14 million businesses in the United States and Canada alone, which means we are only doing business with 5 percent of these businesses.

"Despite higher energy costs, our gross margins improved to 42.7 percent for the year, up from 42.5 percent for the prior year andto 43.6 percent for the fourth quarter as compared to 43.1 percent forthe fourth quarter of fiscal 2005. Our after-tax margins remainedhealthy, at 9.6 percent of sales for the year and 10.1 percent for thefourth quarter."

The Company's balance sheet remains strong. Current assets at May 31, 2006, exceeded current liabilities by approximately $766 million, almost a three to one ratio. Debt to total capitalization was 27.6 percent at May 31, 2006, versus 18.3 percent as of May 31, 2005. The increased borrowings were due to the acquisition of certain assets of Van Dyne Crotty and additional purchases under the Company's stock repurchase program. Mr. Farmer commented, "On May 2, 2005, the Company announced that our Board of Directors authorized a $500 million stock repurchase program at marketprices. The Company has now expended approximately $496 million of the$500 million authorized repurchase level."

Mr. Farmer stated, "We are also proud to be included in NASDAQ'snewly created Global Select Market. The Global Select Market has thehighest initial listing standards of any exchange in the world basedon financial and liquidity requirements. Our inclusion in this newlycreated market is a further testament to our results."

Outlook

Mr. Farmer commented, "We expect revenue for fiscal 2007 to be inthe range of $3.77 billion to $3.85 billion, with full year earningper share (diluted) in the range of $2.10 to $2.20. These rangesassume a steady economy with no significant increases in energy costsfrom the levels seen in the fourth quarter."

Mr. Farmer continued, "We believe the future continues to bebright for Cintas, with opportunities within our current customer baseas well as opportunities with new customers. We will also continue tosearch out additional products and services to become an even morevaluable resource for our customers. We look forward to the challengesof fiscal 2007 with the intention of continuing our track record ofconsecutive growth in sales and profits."

About Cintas

Headquartered in Cincinnati, Cintas Corporation provides highlyspecialized services to businesses of all types throughout NorthAmerica. Cintas designs, manufactures and implements corporateidentity uniform programs, and provides entrance mats, restroomsupplies, promotional products, first aid and safety products, fireprotection services and document management services for approximately700,000 businesses. Cintas is a publicly held company traded over theNasdaq Global Select Market under the symbol CTAS, and is a Nasdaq-100company and component of the Standard & Poor's 500 Index. The Companyhas achieved 37 consecutive years of growth in sales and earnings, todate.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

The Private Securities Litigation Reform Act of 1995 provides asafe harbor from civil litigation for forward-looking statements.Forward-looking statements may be identified by words such as"estimates," "anticipates," "projects," "plans," "expects," "intends,""believes," "seeks," "could," "should," "may" and "will" or thenegative versions thereof and similar expressions and by the contextin which they are used. Such statements are based upon currentexpectations of Cintas and speak only as of the date made. Thesestatements are subject to various risks, uncertainties and otherfactors that could cause actual results to differ from those set forthin or implied by this news release. Factors that might cause such adifference include, but are not limited to, the possibility of greaterthan anticipated operating costs including energy costs, lower salesvolumes, the performance and costs of integration of acquisitions,fluctuations in costs of materials and labor including increasedmedical costs, costs and possible effects of union organizingactivities, uncertainties regarding any existing or newly-discoveredexpenses and liabilities related to environmental compliance andremediation, the cost, results and ongoing assessment of internalcontrols for financial reporting required by the Sarbanes-Oxley Act of2002, the initiation or outcome of litigation, higher assumed sourcingor distribution costs of products, the disruption of operations fromcatastrophic events, changes in federal and state tax laws and thereactions of competitors in terms of price and service. Cintasundertakes no obligation to update any forward-looking statements toreflect events or circumstances arising after the date on which theyare made.
Cintas Corporation
Consolidated Condensed Statements of Income
(In thousands except per share data)

Three Months Ended Twelve Months Ended
----------------------------------------------------
May 31, May 31, % May 31, May 31, %
2006 2005 Chng. 2006 2005 Chng.
----------------------------------------------------
Revenue:
Rentals $677,856 $615,311 10.2 $2,568,776 $2,363,397 8.7
Other services 230,071 193,935 18.6 834,832 703,886 18.6
------------------ ----------------------
Total revenue $907,927 $809,246 12.2 $3,403,608 $3,067,283 11.0

Costs and expenses
(income):
Cost of rentals $367,091 $334,225 9.8 $1,406,829 $1,295,992 8.6
Cost of other
services 144,963 126,509 14.6 541,987 466,532 16.2
Selling and
administrative
expenses 241,336 213,080 13.3 907,954 810,232 12.1
Interest income (1,800) (2,129)-15.5 (6,759) (6,914) -2.2
Interest expense 9,723 5,898 64.9 31,782 24,448 30.0
------------------ ----------------------
Total costs and
expenses $761,313 $677,583 12.4 $2,881,793 $2,590,290 11.3

Income before
income taxes $146,614 $131,663 11.4 $521,815 $476,993 9.4
Income taxes 54,687 48,703 12.3 194,637 176,475 10.3
------------------ ----------------------
Net income $91,927 $82,960 10.8 $327,178 $300,518 8.9
================== ======================

Per share data:
Basic earnings
per share $0.55 $0.48 14.6 $1.95 $1.75 11.4
================== ======================
Diluted earnings
per share $0.55 $0.48 14.6 $1.94 $1.74 11.5
================== ======================

Basic shares
outstanding 166,854 171,828 167,951 171,679
Diluted shares
outstanding 167,384 172,490 168,545 172,649


CINTAS CORPORATION SUPPLEMENTAL DATA
------------------------------------
Three Months Ended Twelve Months Ended
----------------------------------------------------
May 31, May 31, % May 31, May 31, %
2006 2005 Chng. 2006 2005 Chng.
----------------------------------------------------
Rentals gross
margin 45.8% 45.7% 45.2% 45.2%
Other services
gross margin 37.0% 34.8% 35.1% 33.7%
Total gross margin 43.6% 43.1% 42.7% 42.5%
Net margin 10.1% 10.3% 9.6% 9.8%

Depreciation and
amortization $42,509 $37,990 11.9 $160,653 $148,175 8.4
Capital
expenditures $54,552 $39,771 37.2 $156,632 $140,727 11.3

Debt to total
capitalization 27.6% 18.3% 27.6% 18.3%


Cintas Corporation
Consolidated Condensed Balance Sheets
(In thousands except share data)

May 31, 2006 May 31, 2005
------------ ------------
ASSETS
Current assets:
Cash and cash equivalents $38,914 $43,196
Marketable securities 202,539 266,232
Accounts receivable, net 389,905 326,896
Inventories, net 198,000 216,412
Uniforms and other rental items in service 337,487 305,450
Prepaid expenses 11,163 8,358
------------ ------------
Total current assets 1,178,008 1,166,544

Property and equipment, at cost, net 863,783 817,198

Goodwill 1,136,175 889,538
Service contracts, net 179,965 146,596
Other assets, net 67,306 39,868
------------ ------------

$3,425,237 $3,059,744
============ ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $71,635 $69,296
Accrued compensation & related liabilities 51,615 38,710
Accrued liabilities 188,927 166,428
Income taxes:
Current 43,694 32,864
Deferred 52,343 41,883
Long-term debt due within one year 4,288 7,300
------------ ------------
Total current liabilities 412,502 356,481

Long-term debt due after one year 794,454 465,291

Deferred income taxes 125,007 133,837

Shareholders' equity:
Preferred stock, no par value:
100,000 shares authorized, none
outstanding - -
Common stock, no par value:
425,000,000 shares authorized
FY 2006: 172,571,083 shares issued and
163,181,738 shares outstanding
FY 2005: 172,127,502 shares issued and
170,658,601 shares outstanding 122,912 114,171
Retained earnings 2,304,280 2,035,992
Treasury stock
FY 2006: 9,389,345 shares;
FY 2005: 1,468,901 shares (381,613) (58,204)
Other accumulated comprehensive income
(loss):
Foreign currency translation 34,389 13,507
Unrealized gain/(loss) on derivatives 15,135 (1,331)
Unrealized loss on available-for-sale
securities (1,829) 0
------------ ------------
Total shareholders' equity 2,093,274 2,104,135

$3,425,237 $3,059,744
============ ============


Cintas Corporation
Consolidated Condensed Statements of Cash Flows
(In thousands)


Twelve Months Ended
-------------------------
May 31, 2006 May 31, 2005
------------ ------------
Cash flows from operating activities:
---------------------------------------------

Net income $327,178 $300,518

Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation 127,117 119,813
Amortization of deferred charges 33,536 28,362
Deferred income taxes 257 4,191
Change in current assets and liabilities,
net of acquisitions of businesses:
Accounts receivable (44,154) (36,317)
Inventories 22,033 (26,321)
Uniforms and other rental items in
service (26,683) (7,168)
Prepaid expenses (2,305) (892)
Accounts payable 2,329 15,727
Accrued compensation and related
liabilities 12,905 6,906
Accrued liabilities (1,905) 12,444
Income taxes payable 11,578 (3,050)
------------ ------------
Net cash provided by operating activities 461,886 414,213

Cash flows from investing activities:
---------------------------------------------

Capital expenditures (156,632) (140,727)
Proceeds from sale or redemption of
marketable securities 87,477 102,997
Purchase of marketable securities (25,613) (202,265)
Acquisitions of businesses, net of cash
acquired (346,363) (109,076)
Other 1,085 (1,663)
------------ ------------
Net cash used in investing activities (440,046) (350,734)

Cash flows from financing activities:
---------------------------------------------

Proceeds from issuance of debt 333,500 0
Repayment of debt (7,303) (10,575)
Stock options exercised 7,680 4,621
Dividends paid (58,823) (54,968)
Repurchase of common stock (323,409) (58,204)
Other 22,233 11,486
------------ ------------
Net cash used in financing activities (26,122) (107,640)

Net decrease in cash and cash equivalents (4,282) (44,161)
Cash and cash equivalents at beginning of
period 43,196 87,357
------------ ------------
Cash and cash equivalents at end of period $38,914 $43,196
============ ============