FOR IMMEDIATE RELEASE

vFinance, Inc. to offer AFA’s IMPACT™ Order Processing Trade Platform

New York, April 21th, 2005 - Advanced Financial Applications (AFA), a leading provider of trading technologies to buy and sell side financial organizations, today announced that it has entered into an OEM agreement with vFinance Inc. (OTCBB: VFIN) to offer AFA’s IMPACT™ platform to vFinance’s institutional and broker-dealer clients under the name vLink. Financial terms of the agreement were not disclosed.

vLink incorporates AFA’s Integrated Order Processing (IOP™) capability and enables vFinance clients to automate trade processing for their clients from execution through settlement.

Said Bill Groeneveld, vFinance head trader: “vLink is part of our ongoing commitment to our provide institutions and broker dealers with personalized execution services while fulfilling all regulatory requirements. We work closely with our clients to ensure their orders are handled in the manner that enhances their relationships with customers. The partnership with AFA is consistent with our long term strategy of leveraging technology to provide enhanced service to our clients while reducing order processing costs.”

Commented Nilesh Nanavati, AFA’s president: “vFinance is committed to bringing efficiencies to its clients. Our commitment to providing cost effective technology that reduces processing costs and provides greater capability for end clients is reflected in the distribution vFinance will bring those clients via vLink.”

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About vFinance

vFinance, Inc. is a rapidly growing financial services company that provides investment banking, brokerage and trading services to more than 10,000 corporate, institutional and private clients worldwide. The Company has offices in New York, San Jose, Houston, Boca Raton and 22 other cities nationwide. Its subsidiary, vFinance Investments, Inc., manages over $1 billion in assets and is a registered broker-dealer with the SEC and a member of the NASD. For additional information, visit vFinance on-line at vfinance.com

About AFA

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