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.

Good to see CFP holding their own today.

On a more average day the price would have been zooming up.

Shares which don't move or rise when all the rest plummet, prove to be the healthiest companies to invest in.

The dragonfly doji suggests a rise tomorrow, and with the AGM on Friday the rise should continue throughout the week.

Investtech Analysis:

Positive Candidate (Short term) - May 10, 2004
Is within a rising trend, which indicates a continued growth. The stock is between the support at p 1.13 and the resistance at p 1.50. A definitive break through of one of these levels predicts the new direction. RSI is overbought. The stock can still rise further, and we should see a decreasing RSI before this is used as a negative signal. The stock is overall assessed as technically positive for the short term.

The RSI is at 65, way off from being overbought yet. Roughly 80=overbought.

Positive Candidate (Medium term) - May 10, 2004
Shows a strong development within a rising trend channel. A further positive development is indicated, and there is support against the floor of the trend channel. 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 10, 2004
CFA CAPITAL GROUP PLC ORD 0.25P does not show any clear trend. Volume tops and volume bottoms correspond well with tops and bottoms in the price. Volume balance is also positive, which strengthens the stock. Trading volume has increased substantially lately, which may be because of fundamental news. The stock is overall assessed as technically positive for the long term.

Suehelen,
I know this has been discussed before but I bought another 200k this morning @1.22 which has gone down as a sell. Not only that but approx 400k of other buys at similar timing also noted as sells whereas they ought to be buys. Doesn`t this paint a distorted picture in the market when the system should easily be able to define a buy and a sell??
keep up the good work and big success with exams. my oldest is going through same thing at portsmouth at present.
sycophantically yours. snakey

snakey,

With regard to trades and whether they are markedc as a buy or a sell. When a trade goes through the market it is not marked in any way as either a buy or a sell therefore technically there is no way of telling which it is.

Sites like ours use a system where if the trade is closer to the bid it will go down as a sell, if it is closer to the offer it will be noted as a buy and if it is matching the mid price it will be marked as unknown. This is why Trades information should only be used as a guide. If you go to our trades page, you will see a disclaimer which explains this in a little more detail.

Hope this helps,

Ian

seems to be moving in the right direction today

yes. i think so 2

is the agm still on the 14th , friday , and if so , does anyone have any idea whats going to be discussed?

how much the fan can take before it breaks usually is the main topic at agm imho of course
they are going to plunge the share into free fall imho
lol
i love the roller coaster that is shares
lol

evening all. nice steady rise today. hope this steady rise in price continues,no spiking , no ups and downs , just 5% a day and i think we will all be happy folk , n'est pas? here's thinking wishfully.

Jumped on board with a modest 50k shares, here's hoping for a great growth story. Keep up the informative posts!

Best of luck to all holders!

Remember to sell on the news !

mmmmmmmmmmm, whats going on. Why the down turn. there's no profit in this share. you guys's mite of sell nowwwwwwwwwww. quick

sellllllllllll it now

or you will loose it allllll.

bahader (SFB) You speak from your dirt box!

ist post, behader do your research , this stock is one of the most exciting stocks on aims today , with all the ingredients needed to just go from strength to strength , if you are indead a med/long term stockholder ,if you are going to post one line non events , give a reasoned explanation not drival.

no stock goes up in a straight line , just stopping for breath , on its northward journey.

C01

Bahadar you have to be patient,and positive,looks as though you expect miracles in one or two days.

Strong close with the bid price back to 1.2 pence. Closing at 1.20-1.35 pence.

congratulations behader. Youve been awarded the "over reaction" OF THE MONTH award.

I hope your intentions are genuine. Your post was a little over the top you must admit

Behader, congratulations on being the first person i've spoken to who has no experience in stock markets....

congratulations. behader has qualified for my `squelch ` club. good bye
good luck to other regular, sensible posters.
snakey