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.

lol forrest shake thats all mm at play wise up ppl
has there all of a sudden come a load of share that no one knows about
think not
ill buy more today
hmmmmmmmmmmm love the smell of fear lol

Topped up today on weakness.

hey sue helen whats the plan of action on this

taking profits while she can.....

well a retrace was expected, perhaps not such a large one, the announcement certainly was a shock. lokks like I shall put these away in the cupboard and pull them out again in a couple of weeks.

IS this tree shaking or is this the early morning statements reaction?I personaly think this was bound to happen,and after the profit taking is out of the way hope fully an upward trend will start agiain,and thanks sue for the tip on cfp.

sue the nextime you bailout at least let the rest of us know
before the bell lol
oh well
such is life
looks like im in long now even if i wanted short
lol

evening all. down today . never mind . i did expect it to drop further as most people bought sub 1p, so profit taking was inevitable. i am not unduly worried. looking at the recent rise , spectacular, a dip was always on the cards. but cfp announced that trading is in line with expectations. thats good news. it means profits. last year in a depressed market place they turned a 2 million loss nearly into profit . imagine what they could do this year? as big sue pointed out

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.

i am holding . dyor , and be good.

New client for CFA:

RNS Number:1155Y
Constellation Corporation PLC
28 April 2004

28 April 2004


Announcement


Constellation Corporation Plc (the "Company")
Appointment of Nominated Adviser and broker

The Company has appointed City Financial Associates Limited as its nominated
adviser and broker with immediate effect.

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

APPBLGDSDSDGGSI

Hi everyone, was a bit shock to read all the comments first thing this morning. It was very evident that the price was going to retrace. One just had to look at the RSI indicator yesterday which was in a very heavy overbought position. Greed shouldn't overtake the technical analysis. I did state that I sold out giving my reasons. I wouldn't think there would be others who would state when they buy or sell.

Couple with the bad day on FTSE, the retracement was as expected. It wasn't a big drop, considering we have risen 150% in seven days.

For me, this is still a excellent company to invest in, and I will be monitoring the price tomorrow with a view to buying back in on Friday. Should have a good run up again with the AGM only a few weeks away.

It is ironic that on a day when CFP made a statement which was perceived, by some, to be negative. It is later announced that they have more business (new client(CST) announced today).

I THINK THERE HAVE BEEN A FEW UNFAIR COMMENTS FOR SUE HELEN. SHE HAD ALREADY STATED THAT SHE EXPECTED SOME SORT OR DROP AND HAD ALSO TOLD EVERYBODY THAT SHE HAD SOLD HERE STAKE.

SUE HELEN DO YOU STILL THINK 2-3P IS POSSIBLE ON THIS OR SHOULD WE BE MORE CAUTIOUS THAN WE HAVE BEEN

Evening all,

This was a much needed consolidation today and it was good to see buying support coming back at around the 1.2 mark. This means that there is no "pump and dump" going on as some derampers on other boards would have you believe.

However, the familiar faces of the shorters showed up today which is also a good sign because it means that much of the price decline was caused by short-term trading - remember that shorters will have to buy back the shares they sold at some point!

There are individual investors holding large amounts and are not prepared to be scared off by wild daily fluctuations. Selling will occur on the highs and buying will occur on the lows however I think we will see large intra-day swings for the next few days.

If you're traders then there should be good opportunities, however beware of the MMs stretching the spread at the drop of a hat.

If you're longer term investors then the directors have told us today that all is ticking over quite nicely thank you and that there is nothing that they are legally or professionally bound to say about deals in progress and client uptake.

2-3p will come and go and everyone will be like excited children again when the price starts to break through 6p and the same at 12p and so on.

Remember that Stephen Barclay took Seymour Pierce from 1p to 1, why should CFP be any different? Now that really is food for thought :-)

OG

Sue
Don't worry youv'e been bang on the money so far. please dont be put off from posting.(esp on this thread)
Big boys don't cry, lots of people doing very well thanks to you, imho.
Regards

keep the good work up sue.

keep the good work up sue.

shares mag will be interesting

Investtech Analysis:

Positive Candidate (Short term) - Apr 28, 2004
Is within a rising trend. Continued positive development within the trend channel is indicated. The stock has support at p 0.62. The stock is assessed as technically positive for the short term.

Positive Candidate (Medium term) - Apr 28, 2004
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. The stock has support at p 0.42. Trading volume has increased substantially lately, which may be because of fundamental news. The stock is overall assessed as technically positive for the medium long term.

Positive Candidate (Long term) - Apr 28, 2004
CFA CAPITAL GROUP PLC ORD 0.25P does not show any clear trend. Volume tops and volume bottoms correspond well with tops and bottoms in the price. Volume balance is also positive, which strengthens the stock. Trading volume has increased substantially lately. This shows there is an increased interest for the stock, possibly because of fundamental news. The stock is overall assessed as technically positive for the long term.

Technically positive for the short, medium and long term - sounds promising to me!