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.

Zomby,

These are the main revenue streams:

- acting for companies regulated by the City Code on Takeovers and Mergers

- initial public offerings ("IPOs") where CFA can act as adviser to AIM, OFEX
and fully listed companies and broker to AIM and OFEX companies

- acquisitions and disposals advice

- reverse takeover and secondary equity offerings

- sponsorship - AIM nominated adviser and AIM broker roles

- private equity fundraising advice

- ad hoc corporate finance services


Could be worth getting in early in the week if you're planning on investing a few bob with CFP. AGM on 14/5 and buying pressure is starting to mount.

OG

Thanks OG, I think i will be getting in next week

WHAT VALUE DO YOU THINK IT WILL HIT?

Hi Ckmtang and Others,

Rather occupied with my university studies at the moment hence the lack of posts. I am still holding the 2*150,000 I accumalated about a week ago. Though I will be buying more first thing tomorrow morning. I can see these rising nicely again with the AGM on Friday.

We got to 1.65-1.7 pence on the last spike from 0.70-0.80 pence. 2-3 pence is still on within the next 2-3 weeks.

The price is set to cross the ten day moving average tomorrow (see above chart) which will provide further impetus.

Will be posting more once my exams are over come end of May.

Night.

Investtech Analysis:

Positive Candidate (Short term) - May 7, 2004
Is within a rising trend. Continued positive development within the trend channel is indicated. The stock has support at p 0.62 and resistance at p 1.50. The stock is assessed as technically positive for the short term.

Positive Candidate (Medium term) - May 7, 2004
Is within a rising trend. Continued positive development within the trend channel is indicated. The stock has support at p 0.42. 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 medium long term.

Positive Candidate (Long term) - May 7, 2004
CFA CAPITAL GROUP PLC ORD 0.25P does not show any clear trend. Volume tops correspond well with price tops, and volume bottoms correspond well with price bottoms. 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.

is the agm this fri?

CFA Ltd Transactions completed so far in 2004:-

Jan Completed advising on ThreeW.net name change to Setstone (STN) and received 4M shares.

Jan Completed share placing on behalf of Designer Vision Group (DVS).

Feb Placed loan notes on behalf of Setstone (STN) and received 8M shares.

Feb Appointed corporate broker for 2 Travel Group plc (TLG).

Feb Appointed NOMAD and corporate broker for Martin Shelton Group plc (SHM).

Mar Completed advising on acquisition of Oakburn for 10 Group plc (TGR).

Mar Completed share placing on behalf of Dinkie Heel plc (DINK).

Mar Appointed corporate broker for SBS Group plc (SBS).

Mar Completed flotation of Quintessentially English plc (QES) on AIM and appointed NOMAD and corporate broker.

Mar Completed advising on acquisition of Wings Coaches Ltd and Harris Coaches Ltd for Tellings Golden Miller Group plc (TGM).

Apr - Appointed NOMAD and corporate broker for Constellation Corporation plc (CST)

Apr Completed share placing on behalf of Sheldon (Martin) Group plc (SHM).

Apr Completed share placing on behalf of Fundamental-e Investments plc (FEI).

May Soon to complete flotation of Alltrue Investments plc on AIM. Appointed NOMAD and corporate broker.

Ongoing Financial Adviser to SFI Group plc during current proposal for a capital restructuring (SUF).

Yes Ckmtang.

looking good this company

sue helen nice to have your comments back howzer

Alltrue investments is floating tomorrow folks. Should be a good week.

overgrowth : how do you knwo alltrue investment is floating tomorrow?

Details on Alltrue float:

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=256519

what link?

Just fixed it.

cheers.

so what do you think about alltrue investment?

Worth keeping an eye on Alltrue, they want to become a "mini merchant bank" and hope to buy financial services businesses including small stockbrokers and boutique investment banks.

I'd leave them 6-12 months to settle into AIM before considering investing though - unless there is sudden news/unexpected price rises.

I don't recall CFP having Alltrue shares, however I'm sure they're still making a pretty penny from all the services they've provided for them.