East Capital Explorer AB - Net Asset Value SEK 111 per share on 31 December 2010

10 januari 2011 Â Â· On 31 December 2010 the net asset value per share in East Capital Explorer amounted to EUR 12.34 (corresponding to SEK 111[1]). The total net asset value amounted to EURÂ 430m (corresponding to SEK 3.9bn) Â Â· The total net asset value (EUR) increased 3.5 percent compared to 30 November 2010 Â Â· During December, Ernst & Young performed an external valuation of East Capital Explorer's direct investment in Melon Fashion Group. As of 31 December 2010, the fair value of the holding amounted to EUR 13.8m, corresponding to a increase of 33 percent Â Â· As announced today East Capital Explorer has during December 2010 made a new direct investment of EUR 6.8m in Wimm-Bill-Dann Foods OJSC, a leading dairy and juice company in Russia Â Â· The value of cash, cash equivalents and other short term investments per share amounted to EUR 1.27 (SEK 11), corresponding to an aggregate of EUR 44m (SEK 398m) of which EUR 28m (SEK 250m) were available for future investments Â Â· The closing price per share on 31 December 2010 was SEK 84.75 (corresponding to EURÂ 9.43) The total number of shares outstanding in East Capital Explorer AB on 31 December 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 December 2010 is included in the attached pdf-file. Contact information: Gert Tiivas, CEO East Capital Explorer +46 8Â 505Â 977 30 Mathias Pedersen, CFO East Capital Explorer +46 8Â 505Â 977 48 Financial reporting calendar - East Capital Explorer: Â·Â Â Â Â Â Â Â Â Monthly Net Asset Value report on the fifth working day after the end of each month Â·Â Â Â Â Â Â Â Â Year-end Report 2010, 16 February 2011 Â·Â Â Â Â Â Â Â Â Annual Report 2010 available in March 2011 Â·Â Â Â Â Â Â Â Â Annual General Meeting 2011 on 12 April 2011 Â·Â Â Â Â Â Â Â Â Interim Report 1 January - 31 March 2011, 10 May 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. -------------------------------------------------------------------------------- [1] 1 EUR = 8.99 SEK on 31 December 2010. Source: Bloomberg 110110 - NAV Report December 2010: http://hugin.info/143006/R/1478179/414086.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: East Capital Explorer AB via Thomson Reuters ONE [HUG#1478179]