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.

Hey! Its be nice to DF season! He's what's called 'heavy relief'; all appears light when he's gone away! Sometimes you need to take it out on someone or something, e.g. by kicking a sandbag or a cat. What would we do if DF did go away for good or kept his sombre world to himself!

Eric

Eric
I dont want him to go away.
Just having my say thats all.
Same as Fred.
Quid Pro Quo Clarice.
S

Well EW and SW,
I, for one, dont take kindly to someone selling up in a share that i continue to hold and then begin a campaign of 'de-ramping'......i'm not quite sure how you guys can justify welcoming the continuous 'haunting' by deadfred but everyone to their own i suppose.

Nice 750k buy near the bell.

this is just an opinion

butane whats the price of the share now m8
hmmmmmmmmmmmmmm

oh wait a min its a hiccup

the reson i haunt this cfp is simple

as i said i sold at.28 whats the price now after the md bought 4 mill and then we had what seemed a bit of good news

i aint de-ramping this number because ill never be back in it

im saying it as i see it(or in this case smell it)

and as for ramping or de-ramping there are others on here who can do that better than me see above posts and posts from say nov-jan see who are the rampers or de-rampers

remember i can only de-ramp if im trying to buy this share at a lower price

i tell you now it will be a cold day in hell first i know you guys dont know me so ill just say this

in my old job i never left anyone behind forest gump style

so my posts on here will be from a level playing field

i asked ew a simple question he did not answer it so ill ask again

ew did this share have some good news this week

im leaving the other question open for you guys to fill

im pressuming you are asking yourself the same question on my mind

rymes with what came first

the first news or the first good news


just an opinion mind

Fred
I do not understand why you just cannot put your 'big boys' pants on and take it like a man.
I like many am a great deal of money down on this but I will wait for boom or bust.
You need to move on or your constant bleating will wind a lot of people up.
I dont know you, or where you are from but I was brought up being told big boys don't cry.
TAKE THE HIT, EARN SOME RESPECT BY MOVING ON AND MAKING YOUR MONEY BACK ON ANOTHER THREAD.
OR we will have to do as on the EPO thread on ADVFN and put Terminal whingers need not apply, on the thread header.
sr

deadfred,
Yeah, shortly after i posted...the s/price went down (doh...a technical error that will soon be corrected). I am many 's down on this share and if i didn't believe that CFP would come good i would have been out instantly..as you did...BUT THEN I WOULD HAVE MOVED ON!!.........unlike you...who will probably go and top yourself (again (-:) when, imo, the s/price comes good.

You have just stated that you will never be back in this share.....so what's your problem then?....you are not funny anymore and you REALLY are winding people up!!!!

Are you another one of chelwoods alias's?

sort it out steve

imho you may have been told it but they could have waited till you were potty trained first

as for moving on i have and i have made some but not all of my losses back

but your missing the point or maybe just dont want to think it

i walked as soon as i knew i had been taken (ive stated this point)

but i keep wondering why i did not read the warning signs

now you could say its a learning curve and we always learn new trick

but you can only learn if there is something to teach

maybe because your a big boy and you dont cry you might be able to help me out

you see i was always taught never let the barstuards get you down(i never do)
and as for pissing ppl off im an expert(similar to ones self i feel)

but im also a very very curious person and am wondering what i missed (so as to improve my share choices in future)

now surely a very strong person like yourself who has had a good grounding(by the sounds of it)must be asking question like how did you miss the signs

then when you look there are no signs anywhere

when you look there is a smooth gliding fall no warning signs
ppl are asking questions no answers
ppl are phoneing and being told the company is work work working

still no sign (but they must be there cause we have investers(experienced and unexperienced)still thinking this share is a gower

but try as i may i cant find the answer

now ive pulled me pants up but im not prepered to take it like a man(ill let you take my place for that i feel)


but as i said before this is just an opinion im not asking you to like it or dislike it and surely you must permit ppl to have one or were you brought up as little ppl should be seen and not heared with the rest of your younger teachings

me i was brought up ask and keep asking till you either understand or know the answer i dont know the answer for this share yet but belive me im looking

as for shouting my old man always said to me empty vessels make the most noise
get me drift

and i hope that the" we " on the epo thread have as much to lol as i have on this one your posts included


remember this is just an opinion

deadfred - we have all been taken in on this one temporarily - HOWEVER, I think we may just have the "White Knight" in Tony Rawlinson to pull the company up by its bootstraps and really get things moving now he has control over the deals.

Eric is a shrewd character and a speculator (like anyone investing in the majority of AIM shares) and has seen potential here even with the recent unsettling news. Plus points are:

1) Tony Rawlinson is a guy with "his finger on the pulse" and has already interacted more with us smaller shareholders in a couple of months than Stephen Barclay did in several years. Being a younger guy, he has a vision for the company which is considerable more bullish than SB could ever muster.

2) The AIM market continues to flourish and once the new management team get settled in and can get on with the business of meeting prospective clients and getting those floats and placements bedded down, the RNS's will be more frequent and the sp will bounce back to the 0.75p level.

3) All of CFP's existing clients which provide a rich source of recurring income have been loyal to the company - and that must show that they are doing the right thing!

4) CFP has plenty of cash which has seen them through this tricky period, and the real revenue should start to pour in very soon.

It is still within the reach of CFP to multiply their sp 10 or 20 fold over the next couple of years. Now all we need to wait for is that all important proof of work going on in the form of RNS's from client companies. Don't expect lots too soon - if there's nothing substantial by May/June then the company is a basket case and you were right all along, however I suspect that we will see more RNS's this year than in any other year of CFP trading and that will be reflected very quickly in the share price.

fred,
whether it can be described as `good news` I don`t know, but although known to be in pipeline, FEI`s share placing hit the market today so that`s more guaranteed funds into CFP coffers and there is still Setstone to relist, whenever that will be!!! someone did mention it could be this month but a tiny bit late for that, but I can`t see it not relisting and CFP have a 12 million share holding in them.
keep your chins up guys and ride with the punches when they come

Very good post, overgrowth, as one would expect. Very logical with an underlying confidence that is based on your assessment of the man at the helm. Have met up with Dynamite on other threads recently - a very shrewd (thanks for that compliment) young lady who knows how to spot a good share. She said that she had good 'vibes', firstly about SEO and secondly about ZOO. Good logical background in each case, but it is not just a matter of mental reasoning, its a matter of insight, certainly, of intuition, probably. I suspect you and I have good vibes re CFP. We have suffered on the way down like deadfred; we have seen the patient move into a near terminal condition. Then we see the signs of new birth, of spring, of a safe pair of hands at the tiller. Backs his own ability by increasing his stake in the company. Some have left completely to look for new pastures. Some hang around like a ghost figure to haunt the environment. Its like the ghost of Christmas past. But if that ghost stays around and observes the new plant becoming virile, the blossom of spring, perhaps he (or she) might be converted like Scrooge and then enjoy the benefits of new life!

Eric

Eric,
that sounds remarkably like the advice that Chance(y) the Gardner (peter sellers) would have given in `Being There` and it did him okay in the long run.
(In the film rather than, I mean!!)

ew thx but no thx but if this number does do well ill give me self a pat on the back even though i lost(because it tells me i can still pick a share,reinstills confidence in ones own abilities so to speak)

why cause i saw it months ago but what happened was out with my control or jugdement

ill watch with baited breath and as ive said before i hope you ppl get your money back but my reintroduction to this share wont happen under any circumstances(once bitten twice shy mode)

deadfred

That's OK; been there, done that, got the t-shirt! Eric

More work for CFP.....(Kindly brought to our attention by CAECILIUS on 'the other board')...........


RNS Number:3235H
Creightons PLC
13 January 2005


CREIGHTONS PLC

Appointment of City Financial Associates Limited as Financial Adviser

Creightons plc is pleased to announce the appointment of City Financial
Associates Limited as Financial Adviser with immediate effect.



This information is provided by RNS
The company news service from the London Stock Exchange
END

APPBIGDBIUBGGUD

This is old news butane - scroll back a few pages and as far as I can recall this was mentioned on here at the time of the RNS.

overgrowth, oops...oh well, it was news to me...(-:

og, butane

Well, CFP are certainly busy: good profits and sp rise ahead if these projects complete, that is! They have fallen back from the rise on the back of rawlinson's share purchase; but, if they can react as positvely on realtively minor news, what will they do on major news?

Eric

Eric,

I think the drop was short term traders selling out having made a reasonable gain - looks as though they were expecting a "spike" like last year, but as soon as the momentum died off they baled out.

Long term I agree and I believe that that we've got plenty of news to come this year. Tony Rawlinson will want to be seen to be making his mark.

My guess as the year progresses is that each new deal should be worth a tick up (i.e. 0.1p) on the share price.

Cheers

OG

og

That's not an unreasonable assumption. If you say a deal is worth 200K the five deals would probably be 500k pbt, cap of 5m at pe of 10 and a price of 0.8p; not far out.

Eric