East Capital Explorer AB - Fund Investment Performance September 2014

                                                   Indicative value change, EUR
 Fund Investments¹                                               September 2014
-------------------------------------------------------------------------------
 East Capital Deep Value Fund                                              2.8%

 East Capital New Markets Fund                                             1.6%

 East Capital Russia Domestic Growth Fund                                 -7.8%

 East Capital Baltic Property Fund II                                      3.1%

 East Capital Bering Ukraine Fund R                                       -9.1%
-------------------------------------------------------------------------------
 Value change Fund Investments                                             0.2%


 ¹ With an increasing share of direct investments in the portfolio, East
 Capital Explorer has decided to discontinue the previously published monthly
 Net Asset Value (NAV) reports. To avoid selective dissemination of
 information, the Company will continue to publish the monthly performance of
 the alternative investment funds, as these funds distribute this information
 to their other fund holders. East Capital Explorer's complete NAV (including
 direct investments, funds and short-term investments) will be published  in
 the Company's interim reports

 1 EUR = 9.11 SEK on 30 September 2014. Source: Reuters


Fund investments accounted for 52% of East Capital Explorer's total NAV per the
latest published interim report, 30 June 2014. In July, an additional investment
of EUR 2.3m was made in East Capital Baltic Property Fund II. No other
transactions have taken place since 30 June 2014.

Financial reporting calendar

  * Interim Report, 1 January - 30 September 2014 on 7 November 2014
  * Year-end Report 1 January - 31 December 2014 on 12 February 2015

Contact information

Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 32
Lena Krauss, CFO and Head of Investor Relations, East Capital Explorer,
+46 73 988 44 66


About East Capital Explorer

East Capital Explorer AB (publ) is a Swedish investment company, created with
the specific aim of bringing unique investment opportunities in Eastern Europe
to a broader investor base. The company makes direct investments into private
and public companies but investments are also made through East Capital's
private equity, real estate and alternative investment funds. 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.

  Listing: NASDAQ OMX Stockholm. Mid Cap - Ticker: ECEX - ISIN: SE0002158568 -
                  Reuters: ECEX.ST - Bloomberg: ECEX SS Equity


This report has not been subject to review by the company's auditors and the
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 08:00 a.m. CET on 7 October 2014.

[HUG#1861000]