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.

overgroth, sue helen any idea whether the announcements for the 2 10 millions have come through

Why the interest it CFP this morning buyers piling in, 1.25 by end of month?

A series of comments on this poster about its potential and technicals just have a read above. Price expectation 2-3p in the short term

Volume today alone 35 million so far this morning

Hi everyone,

At university today hence this one off post for now. I have bought some more(150,000 shares) at 0.99 pence a short while ago. This is going to go much higher yet in the coming days/weeks. The price has broken 1 pence today and as mentioned there will more and more interest in these from now on.

Back in the evening.

well sue hope your uni is as good as this little belter
lol
come fly with me

dvs and fei , two companies cfp acts for have moved upwards over the last few days . does anyone know if cfp also have stakes in these companies?

Price 0.98-1.07 pence now, up 10.8%. Looking very good on level 2 for another tick up soon.

Check this out : bodes well (from advfn):

To all,

I had a conversation with the brokers at CE today and they told me that they had several calls yesterday from institutions trying to buy some stock.

They could not help fulfil and off trades as they had no stock but they are aware of a number that have taken place which just goes to show the direction this stock is going.

Someone yesterday did an off trade and purchased 70,000 woth of CFP.

They also had other brokers coming on for lots of 5 million last night and again this morning.

Therefore the mm's will be short and we are not far off a very big jump in price as these off trades occur still and it wont be long to a massive shortage in the market.

I also asked about customers who purchased from CE and are they holding. The answer was yes a few have sold but the majority are refusing to sell at anything below 3p as they believe this is where it is going.

Looking good for the next few days.

An off trade is when a deal is done and not normally showing on the market.

Say I had 20 million shares and you wanted to buy them you could phone me an I could transfer them. This does not have to be shown as a buy/sell.

Basically there cant be much more of this to come as I am confident that this must have dried up by now. Also if people phone CE they will know that the clients are not prepared to sell. Another great buy signal.

And if people are prepared to put 70,000 into a penny share they know something and they told me they are getting regular calls of people wanting 5,000,000 which is over 50,000.

Serious shortage coming and buyers are still actively trying to get hold of stock which is quickly running

2 million Buy reported just now at 1.05 pence.

Very interesting sue helen. I know this sounds pessimistic but what are the risks currently for cfp

sue as i said a few weeks ago this little gem has come to daddy all over it
oh i forgot to tell u
im daddy
lol

this announced just now. if the price keeps going up , then the employees are going to be quite wealthy!!!!!!


The Board of CFA Capital Group Plc (the 'Company') announces that on 21 April
2004, it granted the following options to subscribe for new ordinary shares in
the Company to certain Directors as follows:


Director Number Exercise price* Exercise period

SJ Barclay 9,459,459 0.74p 21 April 2007 to 21 April
2014
JR Shaw 5,000,000 0.74p 21 April 2007 to 21 April
2014

* being the mid market price of an ordinary share in the Company at the close of
business on 20 April 2004



In addition, a further 22,062,162 new options have been granted to employees of
City Financial Associates Limited.



Following the above grants, a total of 105,243,243 options have been granted,
representing approximately 19% of the Company's present issued ordinary share
capital.

No risks at all thesaurus, very nicely run company.

yep deadfred.

For these options to be worth anything to Directors or Employee the company share price has to keep increasing to make them worthwhile in 3 years.

Good move, very positive.

what kind of price can we speculate 1-2 years

I won`t speculat a price as it may appear over optimistic or even `ramping` but as my previous posts, all of which support suehelen`s opinion of this company, I believe the share price has a long long way to go yet before it realises it`s full potential

Investtech Analysis ( new updates are very positive, they have been upgraded from neutral to positive).

Positive Candidate (Short term) - Apr 22, 2004
Has risen 288% since the bottom on 18 Dec 2003 at 0.25. Is within a rising trend. Continued positive development within the trend channel is indicated. Positive volume balance, i.e. high volume in days of rising prices and low volume in days of falling prices, strengthens the stock further in the short term. The stock has support at p 0.75. High Risk. The average difference between the highest and lowest price of a moving trading month is 44%.

Positive Candidate (Medium term) - Apr 22, 2004
Has risen 424% since the bottom on 24 Mar 2003 at 0.19. 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. Has risen strongly since the positive signal from a rectangle formation at the break through the resistance at 0.46. The objective at 0.73 is now met, but the formation still gives a signal in the same direction. Positive volume balance, i.e. high volume in days of rising prices and low volume in days of falling prices, strengthens the stock further in the short term. The stock has support at p 0.41. High Risk. The average difference between the highest and lowest price of a moving trading month is 44%.

Positive Candidate (Long term) - Apr 22, 2004
Has risen 424% since the bottom on 24 Mar 2003 at 0.19. Is within a rising trend. Continued positive development within the trend channel is indicated. Has risen strongly since the positive signal from a rectangle formation at the break through the resistance at 0.46. The objective at 0.75 is now met, but the formation still gives a signal in the same direction. Positive volume balance strengthens the stock further in the short term. High risk.