East Capital Explorer invests EUR 35m in new East Capital Special Opportunities Fund

• East Capital Explorer has decided to invest EUR 35m (corresponding to
approximately SEK 395m) in the new East Capital Special Opportunities Fund 
• The Fund targets investment opportunities that due to market or owner
specific reasons can be acquired at low valuations 
• The Fund is mandated to invest in Russia and the rest of Eastern Europe

Gert Tiivas, CEO East Capital Explorer: “While remaining generally cautious and
selective, we want to make sure that we can take advantage of the kind of
special opportunities that current volatile markets present.” 

The Fund will target investments in companies with a solid business model and
outlook which due to market or owner specific reasons can be acquired at low
valuation levels. These opportunities are usually sourced outside ordinary
markets, thus East Capital's experience and network will be key. The Fund will
target investments with both a clear trigger for revaluation and an exit
opportunity within four years. The strategy implies that East Capital will,
when appropriate, take a more active role in the company through board
representation or other means. Investment focus will be listed, or otherwise
traded, equity securities, but other financial instruments can also be
utilized. Distributions to investors can be made throughout the lifetime of the
Fund. All proceeds on divestments after three years will be distributed to the
investors. 

The Board of Directors in East Capital Explorer AB has decided to invest EUR
35m in the Fund upon its expected launch during the second quarter of 2009. 

East Capital will also open the Fund to other institutional and other qualified
investors and the maximum fund size is limited to USD 100m (EUR 80m). The fund
term is expected to be four years. 

There is no subscription fee associated with East Capital Explorer's investment
in the Fund. Other terms are an annual management fee of 2 percent of the
contributed capital of the Fund and performance fee of 20 percent above a
hurdle rate of 7 percent and following a so called 50/50 catch-up, payable at
exit of the investments. 

Following this investment, cash and short-term deposits in East Capital
Explorer amount to EUR 142m (approximately SEK 1,603m), of which EUR 103m
(approximately SEK 1,163m) are available for new investments. 

Contact information:
Gert Tiivas, CEO East Capital Explorer +46 8 505 977 30
Louise Hedberg, Head of Communications/IR East Capital Explorer +46 8 505 977 20


Financial reporting calendar - East Capital Explorer:
• Monthly Net Asset Value report on the fifth working day after the end of each
month 
• Annual Report 2008 available in the week of 6 April 2009
• Annual General Meeting 2009 on 27 April 2009 in Stockholm
• Interim Report 1 January - 31 March 2009 on 14 May 2009

About East Capital Explorer │ East Capital Explorer AB 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 private equity and semi-public equity funds that provide exposure to
companies not otherwise accessible via the local stock exchanges in Eastern
Europe. East Capital Explorer targets fast growing sectors such as the power
utilities, financial, retail and consumer goods and real estate sectors. East
Capital Explorer has appointed East Capital to manage its investment
activities. Since 9 November 2007, 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 or demands made in the exchange rules.