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.

Anyone read the QTR thread by the same author or am I jumping to the wrong conclusion?
Jem

markusantonius "as I write - down to 0.20-----0.27p so don't think the 0.28p's were all "buys", Butane.....?"
-----------------------------------------------------


Not sure what screen you've been looking at markusantonius but .28p has not been on the bid for quite some time now. Take my word for it, .28p were all buys.

This [Mon-AM] Screen, in fact, Butane! If I recall correctly, when you posted your buys - 0.28p was actually a lot closer to the bid price at the time of writing? If I'm wrong, I apologise - was just an neutral observation, that's all! When I posted, this website showed the mid p of 0.24p with a spread of 0.20p (bid) to 0.27p (offer). Notice that the sp did recover a bid soon afterwards so maybe that's a good sign, I don't know.....?

We really need information to know whats going on.

Yep but we aint gonna get it are we!

7mil & 10 mil gone through @ .25

Going on the pattern of the trades, the sells were on the lower limit of the spread. So suspect these are buys. Quite likely part of the 50K sale that is still unaccounted for - small margin of 0.01 for the MM. Agree Butane also.

Eric

EW, I think we went down to 0.2 / .027 at intraday low so they could be buys.

The 2 trades were reported @ 16:30 & 16:33 as 'O' trades, how can they report these trades late as 'O' trades if they were buys ? I dont know so asking.

Cheers.

PS - suspect it just a bit of delay in reporting or the MM doing a late trade for a pal!

Eric

Someone is definately building a stake, that is why the mm's are happy to accept 1.5 mill sells, they already have them sold on to their clients ....
Probably a 'T' trade where the RNS doesn't have to be issued until the total buy order has been fulfilled?.......as below....



'T' If reporting a single protected transaction.
A protected transaction occurs when a large order is going through the market. The buyer (or seller) may wish to keep the order anonymous from the rest of the market as the size of the order could greatly alter the price of the stock. With a protected transaction, the dealer will put the trade through in small quantities rather than knock the whole order out in one hit. The entire transaction is reported once the deal is completed. The LSE is notified at the start and at the end of the transaction. However, the market as a whole isn't told until the end, thus the order is protected.

RNS Number:6264H
CFA Capital Group PLC
20 January 2005

CFA CAPITAL GROUP PLC

HOLDING(S) IN COMPANY



Pursuant to section 198 of the Companies Act 1985, the Board of CFA Capital
Group plc (the "Company") today received notification from GHW Group plc dated
18 January 2005 stating that it had a notifiable interest in 41,227,500 ordinary
shares of the Company. This equates to approximately 6.66 per cent. of the
issued ordinary share capital of the Company.

Any comments on whether this is good news or bad news for us guys

the early opinion on the other BB is not favourable.
we shall have to delve deeper and see what turns up.

ww

If GHW = GH Wills (now known merely as Wills) then IMO - this is ALL BAD NEWS, I'm afraid guys. They've been investigated more than once in the past by the FSA? for dodgy dealings. Just check their history? Tend to buy a bulk of stock on the cheap using hard pressure. Get the "brokers" (more like cold-call telephone salesmen!) to promote the stock offering "free deals" - even though they incurr a "Compliance Charge"! Then they bulk their buy-orders (existing clients) together and start to match deals, making a profit en route. Parent company was/IS? - WSI (Wall Street Inmvestments) where the decisions are made.

I know 3 friends of mine who were stung like this by GHW. What's that phrase? - "Let the buyer beware!". BEWARE guys.....

kes

Sounds plausible but I would have thought it was neutral for the company. There are a number of guys around attemtping to place shares which are considered to be at bargain basement prices and making a turn. Well, CFP are at a bargain basement price and it could be OK for someone to be encouraging some movement.

Eric

Maybe.....?

man have you guys not learned a thing in last cpl of weeks

imho this share has a bad smell

just me gut feeling but hey on this share thats all youve got

i guess i have to agree with you fred, no point in me seling at the moment as my holding is worth fuck all, but really , this company is looking like shit. in todays shares mag , list of forthcoming floats number over 30 to float in q1 or january. not a single one is brokered by cfp. where are they??????????? we were told they were all busy , hard at it , working 12 hour days. DOING WHAT??? im feeling very disatisfied by cfp. and the latest news, if markusantonius is right, is just terrible. flipping heck!!!!!

Hi Chaps not an investor myself in this one but
out of ingterest in news release just put GHW in as a search and came up with 'Actus' ---- GHW Group plc
NOTE
Grahame H. Wills & Company Ltd (then trading as GHW Stockbrokers) changed it's name to Wills & Co Stockbrokers Ltd on 1st December 2003.
To access our new website, please click on the link below.

www.willsandco.com

May be of interest to you

Cheers

O dear had a look @ Website (as above) www.willsandco.com I think markusantonius 1747 Ref 20/01/05 may be right.



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