FOR IMMEDIATE RELEASE 

AFA FORMALIZES STRATEGIC ALLIANCE WITH
PONUS CAPITAL PARTNERS

 (New York:  December 6, 2005) Advanced Financial Applications (AFA), a leading provider of Integrated OrderProcessing™ trading technologies to buy and sell side financial organizations, today announced that it has enteredinto a strategic relationship with Ponus Capital Partners LLC.

Ponus Capital Partners has agreed to act as a strategic advisor to AFA's management team and Board ofDirectors, while also providing specific business development, marketing and sales collaboration to AFA. Inaddition, James W. Lewis and J.P. McNichol of Ponus Capital Partners will sit on AFA's Advisory Board.

Ameet Shah, Chairman and CEO of AFA, commented: “Both Mr. Lewis and Mr. McNichol bring tremendousstrategic connectivity into buy side managers and the sell side brokers dealers. We look forward to working withPonus to expand AFA’s distribution capabilities.”

Said James W. Lewis, Chairman of Ponus Capital Partners: "AFA is providing the next step in the evolution ofequity trading technology in a manner that is both cost effective and time efficient.  This technology integratesthe front, middle and back offices into one easy to utilize platform."

Said J.P. McNichol, President of Ponus Capital Partners: "The feedback we have received from our clientsregarding AFA’s technology has been tremendous – from both cost and productivity standpoints."

Mr. Lewis, who is the Chairman and founder of Geometry Group, Inc. is a former Managing Director of MorganStanley, where he held senior management positions in the asset management, equity, and fixed income areas for17 years and served as Chairman of their Risk Management Committee. He is also a member of the University ofChicago's Advisory Council of the Graduate School of Business and is a member of MiamiUniversity of Ohio's business advisory council.

Ponus Capital Partners, a Geometry Group affiliate, was co-founded by Mr. McNichol and Mr. Lewis in 2004as a strategic consulting firm to the financial services industry.  Clients include: hedge funds, broker-dealers,private equity managers and real estate funds.

For Further Information:

Nilesh Nanavati
President
AFA, Inc.
212.286.1248

Terrence Mulry
Mulry Consulting LLC
201.891.1853

About AFA, Inc.

Advanced Financial Applications, Inc. is a financial services technology company that provides a suite of Integrated Order Processing (IOP™) solutions to buy and sell-side institutions. AFA helps hedge funds, asset management firms, broker dealers and family offices grow their businesses by creating and delivering trading solutions to streamline the trade workflow, thus resulting in lower operating costs. For more information, visit AFA online at www.afapp.com