Final Results Due In March 2005.

http://www.cityfin.co.uk
Trades over 450,000 shares are delayed in reporting by 1 Hour.

One of City Financial Associates (CFP's) main operating goals is to bring fledgling companies to the market. With the depressed stock market over the last few years many potential clients have deffered entry to the LSE. Markets have now turned and the reality of a sucession of new floatations is growing. CFP are well positioned to enjoy the rewards that will be benefited to them in this growing market place.

Why the EXCITEMENT - will here are the reasons why I think we're on a winner.

1) My motto is when it's comes to investing there are three things. Management, management and management. With any good investment - the management should be the driving force in a company. Can they cut the mustard, are they dynamic, do they have good contacts? I think so if you read the following profile.

Stephen Barclay, Executive Chairman

Stephen Barclay, aged 61, qualified as a Chartered Accountant in 1964 with Robson Rhodes before obtaining an MBA degree from Wharton Business School in 1967. In 1989, after a career during which he reorganised various companies, he established City Financial Associates Plc (formerly Clifton Financial Associates Plc) to provide corporate finance advice to small to medium sized private and public companies. In August 1998, City Financial Associates Plc was purchased by Talisman House Plc (now Seymour Pierce Group Plc) where he became group executive chairman. In December 1998, Talisman House Plc purchased an institutional stockbroker, Seymour Pierce Limited, where he became executive chairman. He resigned as a director of Seymour Pierce Group Plc and various other group companies at the end of March 2001 to found CFA Capital Group Plc. He is a director of a number of public companies including MICE Group Plc and Talisman First Venture Capital Trust Plc and is a governor of the London School of Economics and Political Science.

John Shaw, Executive Director

John Shaw, aged 54, qualified as a Chartered Accountant in 1975 with Touche Ross & Co in London. Subsequently he spent two years seconded to the Quotations Department of the London Stock Exchange returning to Touche Ross & Co to join the Corporate Finance Group until 1982. After a period as a sole practitioner, he joined Chase Investment Bank Limited in 1985, was appointed a director and founded the Equity Investment Group, formed to invest in unquoted companies. In 1990 he joined Henry Ansbacher & Co Limited as an Assistant Director of Corporate Finance. He started working with City Financial Associates Plc in early 1995 and was appointed a director in December 1996. He was appointed a director of Seymour Pierce Limited in December 1998 where he was initially Head of Corporate Finance and latterly Head of Private Equity. He resigned from Seymour Pierce Limited and various other group companies at the end of March 2001 to found CFA Capital Group Plc.

2) They have turned a 2 million loss into nearly a profit if you ignore costs for discontinuing operations - that some turn around.

3) With only small market capital of 3.83M it's feasible to suggest they could make a good profit this year as they have already got off to a good start signing more clients.

A profit of half million would give a pe ratio of 7.66

1 million a pe ratio of 3.83

1.5 million a pe ratio of 2.55

2 million a pe ratio of 1.91.

So it would only take a small profit to make this company super undervalued. Consider the possibility they could achieve a 2 million profit this year, which is the least, I expect, we could be looking at a share price of 7p. YES THAT'S 7P (An average p/e for the sector is 16.) Even with a profit of only 1 million that's still an upside of 3.5p.

3) Consider the fact that some of their clients pay their fee by way of giving large share holdings to CFP. All it would take is two or three creamy companies to give them valuable portfolio holding which they could cash in at a substantial return.

4) The IPO is sector has already increased three fold this year. More and more companies are coming into AIM and from abroad then ever before. Rules have changed where foreign companies can use a fast track scheme to get on board more quickly then ever before. I'm sure CFA Associates are well positioned to benefit with this increase in volume.

5) We could see a re-rating this year in this sector, which would be the cherry on the top.

I rest my case, to me this is a no brainer unless you want to wait for the next results for proof they have achieved profitability. If that's your cautious approach, fine but by then, you can then expect a much higher share price then now.

Major Shareholdings:
Stephen John Barclay 64,600,000 11.66%
Pershing Keen Noms Ltd 49,610,000 8.95%
John Richard Shaw 29,400,000 5.31%

RNS Number:9414C
CFA Capital Group PLC
15 September 2004

CFA Capital Group plc
Interim results for the 6 months ended 30 June 2004
CHAIRMAN'S STATEMENT

Highlights

* Nominated Adviser to 20 AIM companies - broker to 15 AIM companies

* Currently handling a number of AIM flotations and other major transactions

* Strong second-half order book - solid outlook for year

* Turnover for the period up 95% to #510,000 (6 months to 30 June 2003:
#262,000 from continuing operations)

* Losses before taxation of #58,000, (loss 6 months to 30 June 2003:
#208,000 from continuing operations)

* Currently recruiting to further strengthen team

Introduction
I am pleased to announce that CFA is now retained as Nominated Adviser to 20 AIM
companies and broker to 16 AIM companies. The company is currently working on a
number of AIM flotations and other major transactions, and as such has built a
strong order book for the second half of 2004. The fees generated by this
activity, taken together with our underlying retainer income and largely-fixed
overhead base, leaves us well-positioned for a satisfactory outcome to the year
as a whole.

Sharply reduced losses for the first half were achieved even though we had to
incur costs on two flotations that were not completed until July 2004 which
generated revenues of #225,000. These revenues were not recognised in the
results to 30 June 2004.

Turnover for the period nonetheless increased 95% to #510,000 (6 months to 30
June 2003: #262,000 from continuing operations), with losses before taxation of
#58,000 showing a marked improvement from #208,000 (6 months to June 2003 -
continuing operations).

Following the sale of CFA Securities Limited in 2003, CFA is now firmly focused
on servicing the needs of clients who are essentially AIM listed companies run
by entrepreneurs. We now have a team of eight, comprising executives and support
staff, providing corporate finance and broking advice. We are in the process of
recruiting further executives to join the team. This recruitment will ensure
client service levels are maintained as we meet the increasing demand for our
services.

In accordance with my statement on the results for the year to 31 December 2003,
CFA started the beginning of 2004 with a good pipeline of work and with a degree
of optimism that market conditions would enable these deals to be completed and
this was the case in the first quarter to 31 March 2004. However, in the second
quarter, in a number of cases transactions that we anticipated completing in the
first half have either been completed since the end of June or have been
deferred. This adversely affected our earlier expectations of financial
performance in the first half of the year.

Financial review
Despite these factors CFA achieved a creditable result in the first half.
Turnover was #510,000 (6 months ended 30 June 2003: #262,000 from continuing
operations), overheads (including plc running costs) were #609,000 (2003:
#458,000 on continuing operations) and the loss before taxation for the period
was #58,000 (6 months ended 2003: loss #208,000).

These results need to be seen in the context of our having completed the
flotation of Smallbone plc (admitted to AIM on 26 July) and Ragusa Capital plc
(admitted to AIM on 15 July). No income is taken into account in the period in
respect of these transactions, although a significant amount of the costs
relating to these flotations were incurred in the period.

CFA is now retained as Nominated Adviser to 20 AIM companies and retained Broker
to AIM 15 companies. Annualised recurring income currently totals over #340,000
representing approximately 30 per cent of total budgeted group costs, and we
anticipate that our level of retainers and this source of revenue will show a
significant increase by the year end. Our increasing base of retained clients
not only provides a source of recurring revenue but is also a prime source of
transactions.

On 27 May 2004 we announced a placing of 65 million new ordinary shares at a
price of 0.7p per share, to raise #441,340 net of expenses. As at 31 December
2003 the net assets of CFA Capital Group plc were #534,000. The impact of the
placing and the small loss in the period, has been to increase the Group's net
worth as at 30 June 2004 to #914,000, creating a sound financial base.

Current trading
We currently have a strong order book both in respect of a number of AIM
flotations and other transactions partially arising through our existing client
base. On the basis that we complete a good number of these transactions, we
anticipate a satisfactory outcome for the year as a whole.

Summary
On 31 July 2004, John Shaw stood down as a Director of CFA Capital Group plc and
all Group companies. John has worked with me for over 10 years and was a founder
shareholder of the Company in 2001. The Board thanks John for his significant
contribution and wishes him well for the future.

The Board also extends its thanks to the entire team for their efforts so far
this year.

This year we could expect to see a profit of 2 million !!!

Well on fundamentals we would have 435m shares generating 2m profits = earnings per share 0.45p . Applying a conservative P/E of say 20, that would give us a shareprice of 9p!

Could be possible !!!

A recent company that CFA Capital Group has brought to the market:

Quintessentially English PLC
18 March 2004

Quintessentially English plc

NEW CASH SHELL LAUNCHED

Dealings commence Thursday 18th March on AIM
Quintessentially English to acquire quoted or unquoted companies
Pro-active investment strategy
Seeking businesses with significant growth prospects


Dealings commence today (Thursday, 18 March 2004) on the Alternative Investment
Market ('AIM') in Quintessentially English plc ('Quintessentially English'), a
new cash shell, which has been formed by Michael Gurner, Robert Coe and Graham
Ashley.


Quintessentially English has been established to acquire businesses which
because of their origin or connection with England and/or the English language
could be described as 'quintessentially English' and which derive particular
value from that association. Amongst areas that the Directors have identified
as initially being worthy of consideration are the training and education
sectors.


The Directors intend to focus on identifying and acquiring businesses which they
believe have competent and proven management, proven profitability and that are
capable of generating revenue and cash with potential growth.


Michael Gurner, Chairman and Chief Executive, commented:


'We have brought together a highly experienced management team with a broad
range of skills to identify the businesses which Quintessentially English will
target.


I believe that there are exciting opportunities for Quintessentially English in
the areas of language, education and call centre training. Globally, the
English language is the predominant tongue in business and the demand for
learning English is growing substantially.'


City Financial Associates Limited is the Nominated Adviser and Broker.


For further information:
Quintessentially English plc
Michael Gurner (Chief Executive) 07768 231 731


City Financial Associates Limited
Tony Rawlinson/James Caithie 020 7090 7800


Beattie Financial
James Chandler/John Moriarty 020 7398 3300
Directors


Michael Gurner, Chairman and Chief Executive

Michael Gurner is 59 and qualified as a Chartered Accountant with Citroen Wells
in 1967 and became senior manager at Lawrence Fenton Masters & Co. (which later
merged with BDO Stoy Hayward) from June 1967 to September 1969 undertaking
management and systems consultancy for several small and mid-sized companies.
Since joining the merchant bank, Keyser Ullmann in 1969, he has spent most of
his career specialising in turning around under-performing and ailing
businesses.


Michael left Keyser Ullmann in 1972 to join the Ryan Group of Companies Limited
specialising in mergers and acquisitions ('M&A'). Between 1974 and 1982 he was
employed by Bell & Company (Westminster) Limited, a mid-sized construction
company, as managing director to turn around the business which had suffered
from a spate of bad debts and litigation caused by the property collapse of the
early seventies. From 1982 to 1986 Michael worked for Holdmer Associates
Limited, a company controlled by him, where he offered consultancy and M&A
advice.


From 1986 to 1991 he was appointed managing director of a fully listed company,
Continuous Stationery plc, a business forms manufacturer and was responsible for
several acquisitions in that sector including Prontaprint, the quick print
retail chain in November 1988. At the time of the acquisition, Prontaprint had
suffered its first loss for several years. In the ensuing 18 months, this loss
was reversed. Continuous Stationery plc became one of the largest business
forms distributors in the UK. Michael left the company in March 1991.


After working further for Holdmer Associates Limited, in February 1992, Michael
began working with Postern Executive Group Limited ('Postern'), a leading UK
turnaround specialist which provided management teams for troubled companies.
At Postern's request, Michael joined the board of several companies which were
successfully turned around. Successful assignments include Starmin plc in July
1994 (raising finance by way of a rights issue of 1.76 million in a 5.78
million fund-raising), and PSB Holding Limited, a pumped power plant business
owned by the National Grid Company plc, where he negotiated in conjunction with
Kleinwort Benson the sale of the business to a US buyer (Mission Energy of
California) for around 600 million when the original guide price was around
300 million.



Robert Coe, Finance Director

Robert Coe is 58 and is the Senior and Founding Partner of Wilder Coe, Chartered
Accountants, which was established in 1972 and operates from two offices, one in
Central London and one in Hertfordshire and employs approximately 70 people.
The firm specialises in advising companies up to and including flotation,
encompassing disciplines such as audit and accountancy, taxation compliance and
planning, insolvency, business process outsourcing and company secretarial.
Robert specialises in advising on corporate finance transactions such as mergers
and acquisitions, pre flotation restructuring, fund raising and business
financing.


Robert is also currently a non executive director of Hercules Property Services
plc, a fully listed property facilities management company whose activities
incorporate property management, auctioneering and commercial agency. As the
senior independent director of both companies, he chairs both the audit and
remuneration committees.


Robert has in the past enjoyed roles such as non-executive chairman of Stirling
Group plc, a clothing, design and manufacturing company which was fully listed,
part time finance director of Probus Estates plc (formally Premier Land Limited)
which at the time, was fully listed property investment company (1995 to 1998)
and, more recently, part-time finance director of New Media Industries plc
during its transition from Ofex to AIM and part time finance director of Hardy
Amies plc (formally Luxury Brands Group plc and Cardington plc) which is a brand
licensing and marketing company currently quoted on Ofex.


Graham Ashley, Non-Executive Director

Graham Ashley is 56 and has over forty years experience in stockbroking and
corporate finance. He started work with the firm of Read, Hurst-Brown
(stockbrokers) and was later a founding director and shareholder of Greig
Middleton Holdings Limited (stockbrokers). After a merger of Greig Middleton
Holdings Limited he became a director of Gerrard Limited and, following its
acquisition, a senior corporate finance director of Old Mutual Securities. He
has advised on acquisitions and disposals and fundraising across a wide range of
sectors and industries. He is currently a consultant to Arbuthnot Securities
Limited.


This information is provided by RNS
The company news service from the London Stock Exchange

Investtech Analysis : Technical Analysis is very positive after today's close.

Neutral (Short term) - Mar 31, 2004
Has risen 172% since the bottom on 18 Dec 2003 at 0.25. Shows a strong development within a rising trend channel. A further positive development is indicated, and there is support against the floor of the trend channel. Is moving within a rectangle formation between support at 0.63 and resistance at 0.71. A decisive break through one of these levels indicates the new direction for the stock. The stock has support at p 0.62 and resistance at p 0.74. The poor liquidity of the stock (traded 100% of the days, mean 9.06 mill per day) may weaken the analysis.

Neutral (Medium term) - Mar 31, 2004
Has risen 268% since the bottom on 24 Mar 2003 at 0.19. Has broken the rising trend up. This signals an even stronger rate of growth, but the positive development may result in corrections down in the short term. Has met the objective at 0.73 after a break of a rectangle formation. The price has now fallen, but the formation indicates further rise. The stock has support at p 0.40. Poor liquidity (traded 100% of the days, mean 9.06 mill per day) weakens the analysis.

Neutral (Long term) - Mar 31, 2004
Has risen 268% since the bottom on 24 Mar 2003 at 0.19. Is within an approximate horizontal trend, which indicates further development in the same direction. Has given positive signal from a rectangle formation by a break up through the resistance at 0.46. Further rise to 0.75 or more is signaled. Poor liquidity (traded 100% of the days, mean 9.06 mill per day) weakens the analysis.

Small rise so far this morning, 0.62-0.72 pence up 1.5%.

Online spread seems to be 0.66-0.70 pence.

Further tick up, Price 0.65-0.72, up 3.7%.

500,000 Buy reported at 0.7 pence from an hour ago.

300,000 delayed buy reported at 0.7 pence from an hour ago.

SH

I must admit that i havnt done any research regarding this company so could you possibly tell me what its about and where the price may top out at??

Cheers G12

Hi there,

Look at the header which describes what the company does, my short term target is 2-3 pence on these at the moment. In their results released after market close on Tuesday they also mentioned that they are going to be many more IPO's released during the rest of the year. Very positive outlook.

SH

Couldnt see the wood for the trees!!!!

G12

That's ok. I do try to provide all the background information required in all my threads.

Moving nicely. Price 0.65-0.75 pence, up 6.00%.

Price 0.67-0.75 pence, up 7.5%. A few delayed buys will be coming through in the next hour I would assume.

sue , you say your short term target is 2 - 3 p . what kind of time scale are you looking at? been looking at these for a while now . still a little unsure .

Hi bosley, 4-6 weeks is the timeframe I am looking at. The AFX summary is well worth a read included in the header post which gives an excellent summary of the outlook.

Price 0.70-0.77 pence, up 11.3% now.

Delayed buys ranging from 0.7-0.75 pence will be coming through in the next 30 minutes.

Delayed 281,477 buy reported at 0.7 pence. Appreared in the sell column.