East Capital Explorer AB - East Capital Explorer AB further decreases its exposure to the East Capital Power Utilities Fund

East Capital Explorer is expected to receive in total EUR 14.2m from the East
Capital Power Utilities Fund within a week from today, which will be immediately
available for future investments. The fund manager has decided to close the Fund
in advance and the remaining proceeds are expected to be distributed during the
early part of 2013.

Mia Jurke, CEO of East Capital Explorer says: "We fully support the decision to
close down the Fund and the power utilities sector will no longer be one of East
Capital Explorer's key investment themes. The risk in the sector has increased
significantly and at the same time we see many interesting investment
opportunities elsewhere in today's attractively valued market, especially among
domestic oriented companies and real estate in the Baltics".
The investment has generated a limited negative annualized pre-tax return of
-2.6% for East Capital Explorer since it first invested into the Fund, while the
Fund has outperformed the RTS Electric Utilities index by almost 56 percentage
points since inception in December 2007 until 30 November 2012.

Peter Elam Håkansson, representing the Investment Manager of East Capital
Explorer, says: "Due to increased regulatory risks, governmental intervention
and unclear reform direction in the sector, we have now decided to terminate the
Fund. We believe that there may still be selective investment opportunities in
the power utilities sector; however, not enough for a separate strategy".

The East Capital Power Utilities Fund aimed to benefit from the expected
consolidation and liberalization of the Russian utilities sector. The power
utilities sector has been one of East Capital Explorer's key investment themes
since start and the Company's initial investment amounted to EUR 81m which was
made in conjunction with the Fund's launch.  The sector has not developed in
line with expectations, which has resulted in a gradually reduced exposure.
Prior to this distribution, three distributions have been made from the Fund
since 2010 for a total value of EUR 47.3m. As of 30 November 2012, East Capital
Explorer's holding in the Fund was valued at EUR 25.4m, corresponding to 9% of
the total Net Asset Value of the Company.

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 2012 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 14 December 2012.

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