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.

snakey my friend this is a longterm share

you know and everyone else whos in the know knows

ask yourself one question is there anywthere a share with as funny or strange share movements as this share seems to have
if there is plz tell me ill buy some
lol


it makes you ask the big question WHY????????

why is a no money share behaving like this with so much outside influences

at sometimes three(3) mm playing it at the sametime

stock exchange asking for a statement from company for share movement on such a little company

two share placements for no reason each swallowed up(imho this is a cry from some ppl to make more share available so they can have some cream)

according to some reports ive read they are getting buissiness offered to them without looking for it(word of mouth always the best for of advertising)means ppl are sitting up and looking at you imho

the need for more personel on board(never heard of a company thats doing bad employing more ppl)
so what do we have??????

we have a company that can place shares and know that they are going to be swallowed up(a certain mobile phone company could not say that when they floated heance price drop on float imho)

the constant requests for a web site are going to be answered as soon as they can get it up and running(next couple of months)this will bring in more money from companies outside uk who wish to be placed on to london aim stock exchange

aim market is running wild and expanding while the main exchange is shrinking
and who is keenly placed in this niche market to take advantage of this(some big players are thinking of moving to aim market for tax purposes)


so as far as i can see longterm this little gem is a gower

but hey maybe im reading the signals wrong (but i dont think so)

money in the bank more buissness than they can handel(hence more employees)
and mm looking out to play with share you make your mind up

i have and that was before i knew about money am or sharecrazy bb allow sue helens thred has been interesting reading

i picked it and put it on my watch list where i have a few others
just wish i had made move when they were .003p
but hey cant be greedy(oh yes i can)

lol

read between lines

Bought .5 mil and never showed.... Why ????

Will be delayed by an hour I would imagine. Glad to have you aboard corehard.

I hate these kind of weeks. It goes up and then comes down day by day to what it was at the beginning.

Here is a good summary from growth dabbler

"Growth Dabbler - 5 Aug'04 - 22:04 - 12403 of 12430

Jazmine - I totally agree with your reasons for investing and there are a lot more curent (and potential) investors thinking the same as you. CFP are on a lot of City radars - a lot of big investors are waiting in the wings to see what happens to the markets after the US elections - if the markets continue to be bouyant then you can bet that they will be investing large chunks into CFP.

CFP's year end closing is 31st December
Interim (6 month) reporting period closes on 30th June

The interim results which will be published in September will show revenue from all deals which were made in the period 1st January 2004 to 30th June 2004.

SBL has done some great analysis on potential profits and share price at results time, though I think it's got lost in the thread - maybe he'll be able to re-post them.

I think we have to be realistic and not set our sights too high (yet), there have been some very lucrative deals made in July, however these will be posted into the second half profits.

NOMAD fees are approx. 25,000 for a smallish client company and slightly more for a larger one - on average we're looking at probably 28k per client. With 19 clients on the books this equates to about 0.5M over the whole year. It all depends on when the fees are received as to how much of this 0.5M will find its way into the first 6 months accounting period.

Float fees are considerably more lucrative for the NOMAD the average here is likely to be around 150K-200K.

Placement fees are subject to a brokers fees of up to around 10%, making some of these deals much more lucrative than floats. Of course these deals are highly variable and negotiable. Where CFP is a broker for sizeable placements, you can expect the rake-in to be around 200K.

CFP have sizable stakes in some of their clients held as shares - obviously if these companies do well then CFP's value will be enhanced in tandem.

Now you have to consider operating costs (wages, directors fees etc. etc.), - see last year's results for an indication.

I seem to remember that there is some cash still owed as an installment for one of CFP's previous disposals - whether some of this will find its way into the interims is anyone's guess.

Churning all the figures around, I reckon we're looking at a profit at interims of 350K-450K which would probably put the share price up to around the 1.5p mark at results time.

The end of year figures have the potential to be much more exciting, provided that CFP continue to roll-out the floats and placements as they have been doing recently. Of course, acquisition news whether CFP are the acquirer or are being acquired can send the share price ballistic at the drop of a hat.

2-3p is a highly likely price for the end of year, once we've seen the progress in the latter half of the year (which happens to be their busiest time normally also!!).

Continuing in the same vein of organic growth with a continued strong market, there is every possibility that we will see CFP's share price nudging the 10p mark by year end 2005. Defintely worth waiting for - and don't forget the CGT breaks if you're a high rate tax payer - 20% CGT to pay after 1 year holding, and 10% CGT to pay after 2 years holding !.

All the best

GD"

i couldnt agree more. buy now and sit back . results will be good. how good? i am not going to speculate , others have tried to figure it out , but i feel its going to be profit.we all feel peed off when we look at a graph of a share that started at almost nothing and a few years later is 10p or 30p or 's. this could be one of those.heres a chance to get in on the ground floor of a busy brokerage thats going places.

Nice to hear such good info about this company, I have topped up once and will do so again on Monday, every dip is a buying opportunity and I for one hope the price stays where it is early next week. Longer term is the key, IMHO.

Regards

PTH

nice to see ppl are opening there eyes

man bosley the things we have to do to make ppl see that money is here and bring your wheelbarrow

lol

no wheel barrow for me fred, not as rich as you . pockets will do fine for me, cargo shorts.

im not rich bosley im scottish

lol

lived in england quite a while so i know how to be tight fisted
taught by the proffessionals

roflmao

whats going on with the mms only show shares sold today.

ok ppl whos messing with the share

1.8m buys against .25m sell ...10.05am

I hate this stock

you dont thesaurus you love it we know you love it and we know the mm know that we know you love it

keep your gonads cool all will be better come 30 sep imho

if not well im dead already

The next set of results could be out on 9 September 2004. If anyone has any spare time tomorrow can you kindly please ring the receptionist to confirm if the results are indeed coming out on the 9th of September.

Stephen Barclay: CFA Capital Group Plc Tel: 020 7090 7800

Interesting

Sue
Made the call and was told it is "around that time" !

Thankyou very much Corehard.

you know you love it