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.

cant get the link up sue.

yet again the mm gat away with it
they crashed the share so they could buy imillion after the shop was shut

man they annoy me

that was get and 1 million lol
sorry bosley

not the best week for cfp .gone past my stop loss now , but i believe things will get better so i am holding . might as well wait for september results now .

same her bosley old chap but imho i think the mm and shorters are trying to make a killing here but hey cheeper shares for me bring down the old profit margin

hope it goes back to .00003
lol
then im selling the wife
lol

Does lol mean-lots of love or lots of luck??

laugh out loud

Shares mag this week has an article (page 10) on Seymour Pierce management denying sale rumours - their summary is that the small cap investment management sector is currently of interest because there's likely to be more news about consolidation.

Ties in well with suspicions that CFP is on the acquisition trail, and also raises a potentially mouthwatering scenario where CFP merge with/buy out IMH (the listed part of SP remaining - which has had loads of problems recently).

Looks as though CFP could be on the up again next week.

Overgrowth,

I posted this info on advfn bb yesterday and asked if we had enough funds to take them over and some of the more expert posters on there were trying to work out if CFA had enough funds for a takeover of SP, but it seems they are worth approx 5 times more than CFA so it seems more likely we would have to carry out some sort of merger instead of a take over as we probably do not have enough funds even with the recent placement OF shares,

But we are only guessing that this could even be a possible acquisition target.
Any posters on here got any ideas or comments.

WW

my post 8th june was on this very subject but was discounted by overgrowth due to difference in company sizes but I still think it could develope into something. certainly some interesting times ahead.

snakey, I still stick with what I said earlier that SP is a much bigger fish than CFP and I'd be amazed if CFP could get themselves into a position to buy them out.

However, as whitewestie points out, a merger could be possible. Provided the companies merge under the CFP banner then we could be looking at a much higher share price given the combined strength of the two companies put together.

As far as I can recall SP have 100 odd clients on their books. A consolidated company really would be a force to be reckoned with in the City.

Interesting times ahead indeed.

my gut tells me there might be a major gamble time coming

fortune rules the brave

imagine if cfp get the money for a straight takeover of sp then were would we be

i dont know if im right here but did the man in charge of cfp not help start sp and if this is so and as i said imho i think he helped start it(dyor) will this not give him a better knowlege of how the company(sp) might be thinking or were it might be heading

i agree a merger looks good but hey id take them over and take the gamble

go to the japan and get loads of cheap money and buy it

whos with me
lol

one for all all for one

lol

lets get it done

dead fred , calm down dear ....its just a commercial!
anyway , more work is coming for our boys . tmg or telephone maintenance group are looking to float and cfp is broker. fantastic . more work , more profit when the results come in .

bosley you are wrong ,tmg is thistle mining inc, and telephone maintenance brokers are Corporate Synergy Plc

hey snip well take them all on because were the cfp team

give me a hight five
low five


you missed

lol

ok after three

cfp cfp cfp

Hold on to your hats boys here we go!

snip, according to shares mag this week its cfp who are brokers. and woweeeeee .

top shelf mag is it bosley old m8

seconders on that m8ty

lol

looks like the wait could be worth it but ive never doubted it

lets face it the company is keeping everything low key

why
why

i hear you ask

my answer ever play chess

number one rule

dont let your opponent know what your thinking

same stratage here mezzzzzz thinks

look at the lastime the share took off no news then all of a sudden an old news snippet re-appears

what happens to the price

retreats big time

now mag lets out that this company is comming to market and also lets out(as an add on)who is brokering it(cfp)

cats out the bag i think but only imho

roll on sep i think shock and awe might just be about to arrive in the aim market

anyone for more shares

i wish i had veen loaded like dead fred. really paying off for you buying up all those cheap shares. damn. . up over 20% now.

teee heeee

belive and you shall have my son

walk with me unto the promised land

thats what peter said to the guy in front of me up at the pearly gates just before he slammed it shut in my face

lol

live long live hard live fast

but for pets sake live

lol