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.

Positive Candidate (Long term) - Apr 26, 2004
Has risen 630% since the bottom on 24 Mar 2003 at 0.19. Is within a rising trend. Continued positive development within the trend channel is indicated. The volume balance is positive and strengthens the stock further in the short term. The average difference between the lowest and highest price of an average month is 44%. The risk is therefore high.

still keep rising.....

1.55/1.62 Come on my Son, 2p here we come U can do it 'today'! :o)
ps. just bagged 115 on een in 7 mins this am, what a good start to the day...

got them both chartist and they are both looking good

Who 2m sold @ 1.42 = 28,400 when the bid was 1.60, dropped 3,600!!! duuuur should have split it into 4.
Should use Barclays you see the price you trade @.

Who 2m sold @ 1.42 = 28,400 when the bid was 1.60, dropped 3,600!!! duuuur should have split it into 4.
Should use Barclays you see the price you trade @.

woooo hoooo. another very good day so far. am so glad im in . usually watch something like this happen and then buy just as it peaks and fallsssssssssssss. very happy man .

Hi everyone, I have taken my profits today at 1.57 pence banking a 150% profit. This was just due to the RSI (Relative Strength Index) in very heavy overbought territory (see indicator on above chart). This may lead to some kind of retracement tomorrow before a strong finish at the end of the week.

I will be back in these again towards end of this week. Just being sensible at the moment as in my wildest dream didn't expect the price to get to 1.65-1.70 pence by this morning. 150% up in 7 days.

Hope others appreciated and respect my decision.

Will post again tonight if anyone has any questions.

Sue - Ditto was out at 1.63 this am, missed the 1.66! likewise I sit on the sidelines a day or two. Still large trades going through T 2.5m buy.
Cheers Sue ...

M/Makers having their customary daily tree shake, dispite some chunky buys go through.
Off to work now seesy ya tomorrow.

Sue Helen - Congrats on the profit, I shall stay in this one until it reaches 2 pence, and then evaluate the further potential.

Had a read of some of your other postings and very impressed. Am just getting in to stock broking myself, and am interested in some of the books, materials you have used, as your postings seem very informative, and the charts interpreted well. Like yourself I'm a student (well part-time anyway) and have a bit of time to read through a few books, etc. I shall be coming back to the UK, next month and can pop off to a bookstore, if you have any recommendations, I'd really appriecate it.


Tokyo

grrrrrrr
was going to at when it hit the top this morning .2 but had to go out
oh well
made some money and sue i was in these before we meet but im glad we did because i was going to bailout untill i read more about them
correction will happen at end of week i think not tommorrow

This looks about fair priced now does anyone think it will push on this week?

any reason why it shouldnt? its starting to attract attention now.another day or two and it will be appearing in the 5 day gainers charts....more coverage. still all to play for i think .

SueHelen

i will have 2000 to invest on friday (not much i know). Is CFP a good home for my 2000 or am i too late? This is money i won't need for months/years.

prepared, my opinion is that you couldn`t find a better long term investment than this share at present. I hope I`m right for me own sake alone!!!
snakey

im with you boseley this is just starting to go
and sue is right there will be a retrace but i dont think its tommorrow
but its only my opinion and im dead so there
lol

Very encouraging new Investtech analysis below besides the RSI:

Positive Candidate (Short term) - Apr 27, 2004
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. The stock has support at p 0.62. The volume balance is positive and strengthens the stock in the short term. Trading volume has increased substantially lately. This shows there is an increased interest for the stock, possibly because of fundamental news. RSI is overbought, which indicates a potential short-term reaction down. The stock is overall assessed as technically positive for the short term.

Positive Candidate (Medium term) - Apr 27, 2004
Has broken the rising trend up, which indicates an even stronger rising rate. The stock has support at p 0.42. Positive volume balance strengthens the stock in the short term. Trading volume has increased substantially lately. This shows there is an increased interest for the stock, possibly because of fundamental news. RSI is overbought, which indicates a potential short-term reaction down. The stock is overall assessed as technically positive for the medium long term.