East Capital Explorer AB - East Capital Explorer AB's largest holding, Melon Fashion Group, shows value increase of 27% following external valuation

A revaluation of East Capital Explorer's direct investment in Melon Fashion
Group (MFG), the Russian fashion retailer, was made as a result of an external
valuation conducted by Ernst & Young. The new valuation corresponds to an
increase of 27%, and comes mainly as a result of stronger profitability aided by
a strong increase in sales and eliminated logistical problems that the company
experienced in 2011.

Mia Jurke, CEO of East Capital Explorer AB says: "We are very happy to see that
our direct investment in MFG is performing well and that the company's focus on
profitability has started to pay off. MFG is well positioned to benefit further
from the strong consumption in Russia."

MFG is one of the fastest growing fashion retailers in Russia. The company has
expanded strongly since 2008, and operates today over 500 stores across five
different concepts.

MFG is East Capital Explorer's largest direct investment. The initial investment
of EUR 10m was made in 2008, followed by additional investments of approximately
EUR 19m in total during 2011 and 2012. East Capital Explorer's ownership
corresponds to approximately 36% of the company. The value of the holding prior
to the new valuation was EUR 34.9m. Following the revaluation, which is the
second upward revaluation during 2012, the value of East Capital Explorer's
holding in MFG amounts to EUR 44.2m. The increase in value will have a positive
contribution to East Capital Explorer's total Net Asset Value of just over 3%.

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 3 January 2013.

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