East Capital Explorer AB - East Capital Explorer to acquire additional shares in Melon Fashion Group

East Capital Explorer AB has agreed to acquire Swedfund International AB's
approximately 15 percent stake in Melon Fashion Group (MFG), the unlisted
Russian fashion retailer with over 500 shops in Russia and Ukraine, for
approximately EUR 14m.

Gert Tiivas, CEO of East Capital Explorer AB says: "MFG has grown very fast and
remains one of the most exciting retail companies in our investment universe
with potential for further value growth."

Prior to the transaction, East Capital Explorer AB held a 16 percent stake in
MFG acquired in late 2008 for EUR 10m. The transaction is subject to regulatory
approval in Russia, and another shareholder of MFG has an option to acquire up
to 50% of Swedfund's stake in MFG. In addition, the deal may result in the
obligation for East Capital Explorer to make a mandatory offer to buy out the
shares of remaining shareholders of the company at the same valuation. Upon
successful completion of the transaction, East Capital Explorer AB together with
East Capital Holding AB expect to jointly hold approximately 40 percent of the
company's shares. The final size of the transaction will depend on the exercise
of the outstanding option and the number of shareholders who elect to
participate in the mandatory buy out offer.

Completion of the transaction is expected during the third quarter of 2011. The
current transaction is carried out at a 4 percent premium to the current
valuation of company, which will result in an upward valuation of the existing
holding in the company by the same amount.

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

Financial reporting calendar - East Capital Explorer:
  * Monthly Net Asset Value report on the fifth working day after the end of
    each month
  * Interim Report, 1 January - 30 June 2011 on 5 August 2011
  * Interim Report, 1 January - 30 September 2011 on 11 November 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 alternative investment funds as well as in direct investments into
private and public companies. 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. It was
released for publication at 7:00 a.m. CET on 22 July 2011.

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