East Capital Explorer makes second partial exit from utilities sector

East Capital Explorer AB is expected to receive EUR 20m from the East Capital
Power Utilities Fund in April, which will be immediately available for future
investments.

Gert Tiivas, CEO of East Capital Explorer AB says: "Our investment into the
utilities sector has performed very well during the last two years. We are
pleased with the investment manager's actions to once again rebalance the
portfolio and lock in some of the gains we have achieved so far."

2010 was another successful year for the fund. The value per fund unit increased
55% during the period, and outperformed the benchmark index, RTS Electric
Utilities index, by 12 percentage points. This followed the fund's strong
increase in 2009 of 177%, compared to the benchmark index's 127%. Since
inception in December 2007 until the end of February 2011, the value per fund
unit increased with 37%, while the benchmark index decreased with 34%.

East Capital Explorer AB invested EUR 81m in the East Capital Power Utilities
Fund in December of 2007, and already received a distribution in the amount of
EUR 20m in June of 2010. As of the end of February 2011 the company's investment
in the fund was valued at EUR 90m, which made it the largest investment in the
portfolio and accounted for 21% of the net asset value. The fund is investing in
the power utilities industry in Russia and other CIS countries. The fund
presently carries investments mainly in listed companies across sub-sectors of
the industry, including electricity generation, distribution and services.


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
  * Annual General Meeting 2011 on 12 April 2011
  * Interim Report, 1 January - 31 March 2011 on 6 May 2011
  * 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 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 or demands made in the exchange rules. It was
released for publication at 7:00 a.m. CET on 29 March 2011.

[HUG#1500971]