Canterbury Reports Losses for Third Quarter and Nine Months.

MEDFORD, N.J. -- Canterbury Consulting Group, Inc. (NASDAQ:CITI) announced today that for the three months ended August 31, 2004 revenues increased to $9,137,000 from $8,140,000 in 2003. The Company reported a net loss of ($344,000) in the quarter versus a net loss of ($196,000) in 2003, and also reported a loss per share of ($.17) in 2004 versus a loss per share of ($.11) in 2003.

For the nine months ended August 31, 2004, revenues decreased to $15,161,000 from $17,749,000 in 2003. The Company reported a net loss of ($1,386,000) for the period versus a net loss of ($1,157,000) in 2003, and also reported a loss per share of ($.67) for the first nine months of 2004 versus a loss per share of ($.64) for the same period in 2003.

Kevin J. McAndrew, President and Chief Executive Officer, was quoted as saying, "Canterbury has not yet been able to achieve increases in its revenue stream sufficient to overcome associated costs and expenses in its training and consulting segment. In addition, gross profit margins in Canterbury's hardware reseller segment have continued to decline for the third quarter and nine months ended August 31, 2004. Unless revenues increase in our training and consulting segment and/or gross margins increase in our hardware reseller segment, it will be very difficult for Canterbury to achieve sustainable earnings."

For more information, visit www.canterburyconsultinggroup.com or to access our filings go to www.sec.gov.

This press release contains forward-looking statements. The Company's performance and financial results could differ materially from those reflected in the forward-looking statements due to general financial, economic, regulatory and political conditions or additional factors unknown to the Company at this time, as well as more specific risks and uncertainties such as those set forth in documents filed by the Company with the SEC (including its Annual Report on Form 10-K for the year ended November 30, 2003 and its most recent reports on Form 8-K and Form 10-Q, copies of which are available upon request or over the Internet at www.sec.gov). Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements. Furthermore, the Company has no intent, and disclaims any obligation, to update any such factors or forward-looking statements to reflect future events or developments.