East Capital Explorer AB - Interim Report 1 January - 31 March 2012

- Net asset value per share on 31 March 2012 amounted to EUR 9.52 (EUR 12.07)1.
The total net asset value amounted to EUR 321m (EUR 421m), corresponding to an
increase of 9.4% (-2.1%) during the first quarter. Since 31 March 2011 the net
asset value decreased 23.8% (+2.5%)

- During the first quarter, the net result for the Group was EUR 42m (EUR 1m).
For the shareholders of the Parent Company the net result was EUR 31m (EUR -2m)
and earnings per share amounted to EUR 0.92 (EUR -0.05)

- Cash, cash equivalents and other short term investments on 31 March 2012
amounted to EUR 37m (EUR 30m)

- At the end of January East Capital Explorer decided to invest EUR 10m into the
new East Capital Baltic Property Fund II. The fund was launched on 2 May and the
fund's first investment is expected to take place later in May

- During the quarter, East Capital Explorer repurchased an additional 60,415 of
its own shares at an average price of SEK 54.21 per share. Since the repurchases
began on 15 September 2011, the Company has repurchased 1,141,969 of its own
shares, corresponding to 3.3 percent of the Company's outstanding number of
shares, at an average price of SEK 51.69 per share. The repurchase program ended
on 30 March 2012 and is thus completed

- The closing price of the East Capital Explorer share was SEK 55.75
(corresponding to EUR 6.31)


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