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.

im with you there slmchow good post if we all pull together on this it will be a right good buy

imho of course

In Today's Daily Mail Newspaper (Smallbone is mentioned):

Delayed float adds to City gloom
Guy Dresser, This Is Money
9 June 2004

UEL cell technology firm Intelligent Energy has abandoned plans to float on the stock market later this month, sending a tremor through the City.

Financial analysts said the potential analysts had baulked at the price. Intelligent Energy had planned to raise 40-60m from the offering on Aim later this month, valuing the firm at about 200m.

Chief executive Harry Bradbury said the company would consider floating at a later date, either in London or New York. He blamed current market conditions for the decision.


Intelligent Energy's decision follows several other cancelled European flotations* in recent months, including those of Germany's Siltronic and ATU. Other firms, such as sportswear supplier Umbro, have reduced the amount they raised.

The market for new issues has picked up this year after a three-year downturn, but geopolitical risks, rising interest rates and high oil prices have tempered investors' appetite for new stock.

Bradbury said Intelligent Energy had financing in place to sustain its business and that further funds could be raised through private placement.

Intelligent Energy specialises in fuel cells that use hydrogen for a chemical reaction to produce electricity. The basic technology is old, but increasing concerns about the pollutants in other fuels have led inventors back to the use of hydrogen as a fuel of the future in both static power generation and transport applications.

JP Morgan was nominated adviser for the offer and was to be joint broker with Evolution Beeson Gregory.

Analysts are divided about the potential impact on other new issues due to come to the market in London in the coming months.

Upmarket kitchen maker Smallbone plans to raise about 2.5m by listing on Aim, giving it a market value of about 15m. PlusNet Technologies, an internet service provider, is expected to be valued at between 30-40m when it lists this summer.

Monkleigh, a new company specialising in promotional events and and corporate hospitality firms, plans to raise up to 2.5m by listing on Aim later this month.

Financial services company Libertas Capital recently announced plans to raise up to 7m from its AIM listing and sales technology firm XN Checkout plans to raise about 5m from its own flotation on AIM later this month.

A main market float next month is Eurocastle Investment, a securities firm, expected to be valued at between 50-100m.

http://www.thisismoney.com/20040609/nm79182.html

The thread on ADVFN on CFP is well worth a look, esp regarding the RNS on the disposal of the shares by city equities and the late buys.
May tick up slightly tomorrow IMO, however, Sues post tempers my exitement a bit
regards
Stevie ( still holding and still smiling)
Good luck to all

Just be careful with what you read on ADVFN...if you fine something interesting then research it yourself thereafter....appararetly a ramping ring was broken involving chelwood who does post here sometimes. Chelwood apparently had multiple alias and use to post misleading information on CFP as I understand...one can see the drivel that went on there 3 or 4 weeks ago when the ramping ring was broken.

Having said that this company is going places...but don't believe everything you read on the CFP thread on ADVFN....Carchase's comments should be read.

SueHelen,

Don't believe carchase either on matters other than TA.

Carchase tends to guess way too much as to who is buying or selling what and how much at what time and has been totally absorbed in the petty squabbles, so much so that I find his/her posts next to useless as of late.

CFP is not a blue sky company where speculators always have the upper hand. The management are excellent, the fundamentals are sound as a pound and the future prospects for growth as destined to be phenomenal. So we don't really need to worry about what's happening on BBs (unless you're in for taking on the City punters by trading - dangerous game - they always have more info. than us).

Because CFP are a City company you'll always get the traders/brokers having a go - but this is great because it gives the share good liquidity and keeps the action going.

I'm in for the long term because that's where we're going to see the real increase in value, and I won't say no to a 30% saving on CGT either!

All the best

OG

Good Morning folk

I'm an ADVFN refugee, the boards there have become quite farcical - It's really not worth the effort reading 400 posts of dross to uncover a morsel of information that's already 2 days old.........

Holding a lot of these since Jan, already banked a tidy 5-fig profit which returned my stake so current holding is for free and for a good 2 years.

This company has more going for it than most - I am always looking for a reason to bank profits but here I feel there is considerable long-term potential. The Smallbone floatation (largest for CFP so far) and the relisting of Setstone will be good near-term boosters for the share. As for an acquisition, well they've obviously got that 440k earmarked for something.

Vind

PS - Why is my font different to the rest?

welcome vind, i have heard from a few people that the other bb is a bit of a joke . here things are a touch more relaxed and friendly , especially on this thread. we are all after the same thing , profit and a bit of fun. i agree with you that cfp are a long term investment. good to see bigger companies are now starting to use them . could do with more news and/or press coverage though .

lol all we need now vind old chum is for a fem called boiled rice and your made up
lol
jokin vin old m8

cfp are my long term project and have all the right ingrediants to go far
imho of course

does 47 million shares mean there might be a bid coming
lets face it if it goes in profit in sep and has money to burn it starts to look like a tasty morsel imho

big 15m trade just gone through at .89p. think its a buy. things are happening , methinks

Hi all, come over to escape the mad house!

City Equitys had bought 60m shares to dispose of to there own clients, which
they did at .9p within 24hours.

Someone bought 15m at .89p which is a big sign of confidence on Tuesday.

The price was expected to open Weds and follow through with further buying
volume. It didn't happen, why?

I think the organised deramp on ADVFN had something to do with it, as it has
badly hit sentiment. Both threads have been pulled this morning by chelwood
and stocktrader, because of this.

Thanks for your views axe79....

Best Wishes.

1m buy just gone through. the excitement .........oooooooooooo..........wetting me knickers.........

steady bosley or you will need to buy pharmacutical shares next

pampers and things like that

last time is saw wet no im not going there
lol

An update of CFP activities posted by sdtoot:-

"sdtoot - 10 Jun'04 - 18:38 - 9571 of 9575

Stocktrader,

As promised updated info for top of thread:-

CFP Current Client List:

Fundamental-e Investments plc (FEI) - NOMAD & Corporate Broker
Interactive Digital solutions plc (IGL) - NOMAD & Corporate Broker
Mosaique plc (MQE) - NOMAD & Corporate Broker
10 Group plc (TGR) - NOMAD
Beaufort international Group plc (BFG) - NOMAD
Documedia Solutions (DOC) - NOMAD
Oak Holdings plc (OAH) - NOMAD
Parallel Media Group plc (PAA) - NOMAD & Corporate Broker
Setstone plc (STN) - NOMAD & Corporate Broker
Designer Vision Group plc (DVS) - NOMAD & Corporate Broker
Tellings Golden Miller Group plc (TGM) - NOMAD
Dinkie Heel plc (DINK) - NOMAD & Corporate Broker
SBS Group plc (SBG) - NOMAD & Corporate Broker
Voss Net plc (VOS) - NOMAD & Corporate Broker
London Town (LTW) - Corporate Broker
2 Travel Group plc (TLG) - Corporate Broker
Shelton (Martin) Group plc (SHM) - NOMAD & Corporate Broker
Quintessentially English plc (QES) - NOMAD & Corporate Broker
Constellation Corporation plc (CST) - NOMAD & Corporate Broker
Alltrue Investments plc - NOMAD & Corporate Broker
Smallbone plc NOMAD & Corporate Broker (from July 2004)
SFI Group plc - Financial adviser for forthcoming restructuring

CFA Ltd Transactions completed/ongoing 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 Completed share placing on behalf of Sheldon (Martin) Group plc (SHM).

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

Apr Completed share placing on behalf of Voss Net plc (VOS).

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

Apr Completed share capital split and share placing for Constellation Corporation plc (CST). Also advised on director loan to company.

May Completed flotation of Alltrue Investments plc (ATR) on AIM. Appointed NOMAD and corporate broker.

May - Completed two share placings on behalf of Interactive Digital Solutions plc (IGL).

Jun Completed advising on acquisition of global software telephony licence for Fundamental-e Investments plc (FEI).

Jul Soon to complete flotation on behalf of Smallbone plc on AIM. Appointed NOMAD and corporate broker.

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

CFA Ltd Transactions completed in 2003

Jan - completed flotation of 2 Travel Group Plc on AIM and a placing to raise working capital

Jan - completed placing for Interactive Digital Solutions Plc

Mar - completed sale of Colour Company outlets to MICE Group plc

Mar - completed placing for 2 Travel Group Plc

May - completed EGM circular on behalf of WAP Integrators Plc

June - completed EGM circular on behalf of Mosaique plc

June - placed loan notes on behalf of Dinkie Heel Plc

June - completed placing on behalf of Interactive Digital Solutions Plc

Aug - completed flotation of Tellings Golden Miller Group plc on AIM and a placing to raise acquisition finance and working capital

Aug - completed flotation of Designer Vision Group PLC on AIM and a placing to raise working capital

Aug - completed Rule 3 advisory role for Mirror image Plc

Sept - completed placing on behalf of Beaufort International Group Plc

Sept - completed placing for Parallel Media Group Plc and general financial advice

Oct - completed placing for Beaufort International Group Plc

Oct - completed introduction of Purely Plasma Limited to Fundament-e Investments Plc

Nov - completed advising on re-admission of Voss Net Plc to AIM

Nov - completed acquisition of Oak Holdings Limited on behalf of AWG Services plc

Dec - completed buy-out of Premier Employment Agencies by Urban Chain Ltd

Dec - completed acquisition of Burtons Coaches Limited on behalf of Tellings Golden Miller Group plc

sdtoot"

sit back eat some cheese and drink some wine all is heaven

join me and relax
ppl

got any barolo?

have a bit of cheese bosley old mate
and a little red

life

so many downs

not on my watch we only have ups were i live

live long,live hard, play well, but remember you've done your research you know your own self what do you trust

mm play
or your know how

(ill go with mm(not)

lol

Good job you all can hang loose--I'm getting a bit impatient here. It's like watching paint dry !!

Off the topic posted by hullman

"hullman - 10 Jun'04 - 16:39 - 23286 of 23333

I have often wondered how MM's make money while a share drops. Watching this is depressing but a valuable lesson.

The MMS don't make any money if a share is going in one direction. They require rises and falls to make money. A MM buys a share at 8p then sells it back for 10p. It is then sold to him for 8p again and he sells it again for 10p. 2p profit on each turn.

What does not happen is that a MM buys a share for 8p then sells it back for 6p.
So the notion that the MMS are making money out of the buys and sells in MXC's fall is rubbish. So where does this leave you and how are they making money. I will tell you.

All MMS are subsidiaries of large financial institutions who have major insitutional clients. So a client will ring up the brokerage who is also part of the conglomerate and place an order say for 75 million MXC shares at a maximum price of 3p. No one MM can accumulate so much stock on their own so the broker would place the bulk of the order with his MM and the rest would be farmed out to the others.

Now they get to work in concert and start dragging the price down. No amount of retail buying can reverse this trend. Sales are put through to kick start the stampede. MXC would also have an interest in an institution acquiring a notifiable interest so the last thing they would do is announce positive news.

When or if the order is filled all MMS and the brokerage receive their commission. Work out how much the client saves when purchasing 75 million shares at 3p as opposed to 4p.

This is why the shares are falling. There is no telling when or where it is going to stop and many retail holders will HAVE to sell due to financial commitments and concerns."