East Capital Explorer AB - Net Asset Value SEK 111 per share on 31 January 2011

 · On 31 January 2011 the net asset value per share in East Capital Explorer
amounted to EUR 12.55 (corresponding to SEK 111[1]). The total net asset value
amounted to EUR 438m (corresponding to SEK 3.9bn)

 · The total net asset value (EUR) increased 1.7 percent compared to 31 December
2010

 · Fondul Proprietatea, the largest indirect investment held by East Capital
Explorer AB through the East Capital Special Opportunities Fund and the East
Capital Bering Balkan Fund, was successfully listed on the Bucharest Stock
Exchange on 25 January. The value of the holding increased 20 percent during
January

 · The value of cash, cash equivalents and other short term investments per
share amounted to EUR 1.25 (SEK 11), corresponding to an aggregate of EUR 44m
(SEK 385m) of which EUR 28m (SEK 250m) were available for future investments

 · The closing price per share on 31 January 2011 was SEK 88.75 (corresponding
to EUR 10.05)


The total number of shares outstanding in East Capital Explorer AB on 31 January
2011 was 34,851,675.

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 January 2011 is
included in the attached pdf-file.


Contact information:
Gert Tiivas, CEO East Capital Explorer +46 8 505 977 30
Mathias Pedersen, CFO East Capital Explorer +46 8 505 977 48

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 2010, 16 February 2011
·         Annual Report 2010 available in March 2011
·         Annual General Meeting 2011 on 12 April 2011


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 and demands made in the exchange rules.

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[1] 1 EUR = 8.83 SEK on 31 January 2011. Source: Bloomberg

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