2013-01-08 07:03:37 -

* On 31 December 2012 the net asset value per share in East Capital Explorer
    AB amounted to EUR 9.13 (corresponding to SEK 78[i]). The total net asset
    value amounted to EUR 302m (corresponding to SEK 2.6bn)
  * The total net asset value (EUR) increased by 3.0 percent compared to 30
    November 2012
  * The value of cash, cash equivalents and other short term investments per
    share amounted to EUR 1.41 (SEK 12), corresponding to an aggregate of EUR
    46m (SEK 399m) of which EUR 13m (SEK 112m) were available for future
    investments
  * The proposed redemption program for   2013 was approved by an Extraordinary
    General Meeting on 4 December 2012
  * As earlier communicated, East Capital Explorer decided to invest an
    additional EUR 10m into the East Capital Baltic Property Fund II, of which
    EUR 8.4 was draw down during December
  * East Capital Explorer received a distribution amounting to EUR 14.2m from
    the East Capital Power Utilities Fund during December. The Fund Manager has
    decided to close the Fund, and the remaining proceeds are expected to be
    distributed during the early part of 2013
  * As announced on 19 December 2012, East Capital Explorer decided to invest an
    additional EUR 15m into the East Capital Russia Domestic Growth Fund. The
    investment will take place in January 2013
  * During December 2012, external valuations were performed for East Capital
    Explorer's direct investments in Melon Fashion Group (MFG) and Trev-2 Group.
    As of 31 December 2012, the fair value of the holding in MFG amounted to EUR
    44.2m, corresponding to an increase of 27% compared to previous month. The
    fair value of the holding in Trev-2 Group amounted to EUR 7.4m as of 31
    December 2012, corresponding to a decrease of 1.4%
  * The closing price per share on 31 December 2012 was SEK 49.00 (corresponding
    to
    EUR 5.70)

Excluding shares held by the company following buy-backs, the number of shares
outstanding in East Capital Explorer on 31 December 2012 was 33,024,545.

This report has not been subject to review by the company's auditors.

The full net asset value report with the portfolio as of 31 December 2012 is
included in the attached pdf-file.

Contact information:
Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 32
Charlotte Åsberg, Investor Relations Manager, East Capital Explorer,
+46 8 505 885 94

Financial reporting calendar - East Capital Explorer:
  * Monthly Net Asset Value report on the fifth working day after the end of
    each month
  * Year-end Report 2012, 14 February 2013
  * Annual Report 2012 available in April 2013
  * Annual General Meeting 2013 on 24 April 2013
  * Interim Report, 1 January - 31 March 2013 on 9 May 2013
  * Interim Report, 1 January - 30 June 2013 on 14 August 2013
  * Interim Report, 1 January - 30 September 2013 on 11 November 2013


About East Capital Explorer - East Capital Explorer AB (publ) is a Swedish
company, created with the specific aim of bringing unique investment
opportunities in Eastern Europe to a broader investor base. The company invests
mainly in East Capital's special fund products but it also makes direct
investments into private and public companies. East Capital Explorer's main
investment theme is domestic growth and the Company targets fast growing sectors
such as Retail and Consumer goods, Financials and Real Estate. East Capital
Explorer has appointed East Capital to manage its investment activities. East
Capital Explorer is listed on NASDAQ OMX Stockholm, Mid Cap.

This information is disclosed in accordance with the Securities Markets Act, the
Financial Instruments Trading Act and demands made in the exchange rules. It was
released for publication at 07:00 a.m. CET on 8 January 2013.

--------------------------------------------------------------------------------

[i] 1 EUR = 8.59 SEK on 31 December 2012. Source: Bloomberg

130108 - NAV Report December 2012: 
 hugin.info/143006/R/1668798/541956.pdf



This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: East Capital Explorer AB via Thomson Reuters ONE
[HUG#1668798]