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.

for what slmchow for what
lol

the good times i hear you cryyyyyyyyy

ARE RESULTS COMING IN TOMORROW

I have just phoned the company about the results date and spoke to a nice lady i asked her for the date the results would be coming out and she told me she did not know at this time, she also told me there is a board meeting tomorrow and they may know something after that but that they have until the 30th to bring them out, well we know that already.
I also asked her if we would be pleased with the results but she was very cagey and said she could not comment and we would have to wait fot the announcement.
I did not think i would get any sense out of them but i thought i would try.

WW

How certain are we that results are going to be positive...


List of Pro's and Cons please

I am getting a little miffed at the lack of work they are picking up, look at this new list of new comers and once again no cfp as nomad or advisor.

The New Issues List is a list of all new companies which are either seeking admission to one of our markets or have been admitted to trading within the last seven days. This list provides basic information on the company, terms of the offer and its sponsors.

New Issues

Islamic Bank of Britain plc AIM 12/10/2004 n/a n/a
TV-LOONLAND AG AIM 30/09/2004 n/a n/a
Pittards plc AIM 30/09/2004 n/a n/a
SR Pharma plc AIM 30/09/2004 n/a n/a
European Minerals Corporation (the Corporation) AIM 29/09/2004 n/a n/a
Crucial Plan plc AIM 17/09/2004 n/a n/a
EP&F Capital PLC AIM 15/09/2004 n/a n/a
Tower plc AIM 14/09/2004 n/a n/a
Red Squared Plc AIM 13/09/2004 n/a n/a
Smart Telecom plc AIM 10/09/2004 n/a n/a
Gulf Keystone Petroleum Limited AIM 08/09/2004 n/a n/a
Roc Oil Company Limited AIM 06/09/2004 n/a n/a
Leisure & Gaming plc AIM 03/09/2004 n/a n/a
ELKEDRA DIAMONDS NL AIM 03/09/2004 n/a n/a
Frontier Mining Ltd. AIM 02/09/2004 n/a n/a
Business Direct Group Plc AIM 31/08/2004 n/a n/a
Intermodal Resource plc AIM 31/08/2004 n/a n/a
Seashell Group Limited AIM 31/08/2004 n/a n/a
CUBUS LUX PLC AIM 31/08/2004 n/a n/a
BDI Mining Corp AIM n/a n/a n/a

Alittle negative I know. Does anyone know the last company that cfp was nomad or broker for and when was it?

The last work as above Alltrue investments nomad and broker but was back in May? Before that something was coming along every month by the look of it.

Ted1

Don't forget there was Smallbone and Regusa as well.

ted 1 do you post on anyother bb cause your negative view puts me in mind someone else ive read reacently

imho a bit of de-ramping

Ted1

the following is what CFP have done since beginning of this year

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).

Mar Completed advising on 2 Travel Group name change to Ashdene Group plc (ASH).

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.

Apr Completed financial advising to SFI Group plc (SUF) for capital restructuring proposal.

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).

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

Jun - Completed advising on acquisition of Wilson & Garden Ltd for Fundamental-e Investments plc (FEI).

Jun Completed share placing on behalf of Alltrue Investments plc (ATR).

Jun - Completed share placing on behalf of Constellation Corporation plc (CST).

Jul - Completed advising on acquisition of Symphonix Ltd for Fundamental-e Investments plc (FEI).

Jul Completed 5.5m flotation on behalf of Ragusa Capital plc (USA) on AIM. Appointed NOMAD and corporate broker.

Jul Completed 2.0m flotation on behalf of Smallbone plc (SML) on AIM. Appointed NOMAD and corporate broker.

Jul Completed advising on partnership agreement with HTK of Taiwan for Designer Vision Group plc (DVS).

Aug Broker for planned 1.0m AIM flotation for Intandem Films plc.

True, must stay positive

Nice,it would be great if Sue Helen could put this up to date info into the header, if your out there Sue Helen.
The 300,000 and the 66,231 are buys should see us back to green at least for the close.

slm chow can i use your list plz got a point to prove so to speak

with a very negative person

Yes dead, Credit to 'sdtoot" on advfn who compiled it to keep all us cfp holders up to date

hello everyone. have you missed me??? have to say thanks to ian taylor for his help . just to explain , my pc crashed last month , with all my log in details for moneyam and other share sites. have missed some buying opportunities in the mean time. damn!!! anyways,i'm back now , and catching up , reading all those posts that i missed so much . nice to see new people on this thread , and some old faces coming back . but i still dont understand why poeple are fretting with this one. buy it , put it away , and then laugh at how much more it is worth , pat yourself on the back , and say well done , me .looking forward to results. they will be good. also a good set of results could raise profile higher . i wish shares mag would give cfp as much coverage as they do daniel stewart. they might do soon, especially if results are exceptional.

Welcome back Bosley. You are absolutely right about this share. Nice steady trend up, MACD Bullish, can't understand why people panic when it gets marked down a bit, which is often overdone in any case. Results will be good, so lots of upside to look forward to. Wish I had bought more months ago.

Regards

PTH

bosley,well said,fed up with people fretting.this is a long term hold with
excellant prospects.so be patient.
regards
kia

Further postive buying today and we should see the Offer move up to the 1.00p.

PTH

Good to see you again Bosley... this was always a long stayer anyway !

nice rise today...maybe results are not to far away

Yep - a very pleasant 9% up and much much more to come in the next 12 months.

To all who've been wondering what CFP is all about, the new web site is now live and can be found at:

http://www.cityfin.co.uk