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East Capital Explorer AB: East Capital Explorer AB - Liquidation of East Capital Special Opportunities Fund II expected to provide approximately EUR 19.4m*

East Capital Special Opportunities Fund II was launched in 2010 with an
investment life cycle of four years. As planned, East Capital has now
commenced the divestment of the fund's holdings and will pay out the proceeds
in tranches. The first pay-out, in late May - early June, is expected to
amount to an equivalent of approximately 80% of the company's fund holding.
The remainder is expected to be paid out during the autumn of 2014.

"This is yet another step in crystallizing our portfolio values by
concentrating the portfolio and increasing the share of direct investments
and private equity holdings. In the past year, the number of funds in our
portfolio has decreased from twelve to five, while the share of direct
investments and private equity has increased significantly. We intend to
invest the proceeds primarily in Baltic real estate and in direct investments
in the Baltic and Russian consumer sectors", says Catharina Hagberg, Acting
CEO of East Capital Explorer.

The value of East Capital Explorer's holding in the fund at 31 March 2014 was
EUR 19.4m, representing 7% of the company's net asset value. East Capital
Explorer owns 57% of the fund, which was launched with the purpose of
investing in Eastern European assets in special situations, where market
corrections and liquidity issues created crisis-like valuations.

"The initial period of the fund was characterized by weaker than expected
macroeconomic developments, which consequently affected market sentiment.
Having worked persistently with the investments, it is encouraging that the
holdings we have believed most in, have also performed well recently. We have
successfully divested three holdings according to plan; Serbian confectionery
manufacturer Bambi was sold with a large premium, Verofarm in a strategic bid
and Sibirsky Cement in a negotiated deal. Following these divestments, half
of the fund's assets now comprises of cash. The largest remaining holding,
Slovenian insurance company Triglav, has gained 26% this year, and we believe
that now is a good time to liquidate the portfolio", says Jacob
Grapengiesser, Partner and Senior Advisor at East Capital.

* As a result of market fluctuations, the actual proceeds may deviate from the
estimate, which is based on the value as of March 31, 2014

Contact information

Catharina Hagberg
, Acting CEO, +46 8 505 885 52

Lena Krauss
, Head of Investor Relations&Finance, +46 73 988 44 66

Financial reporting calendar

· Monthly Net Asset Value report on the fifth working day after the
end of each month
· Annual General Meeting 2014 on 22 April 2014
· Interim Report, 1 January - 31 March 2014 on 22 May 2014
· Interim Report, 1 January - 30 June 2014 on 21 August 2014
· Interim Report, 1 January - 30 September 2014 on 7 November 2014

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.

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

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 16:00 p.m. CET on 16 April 2014.

140416 - Press Release


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: East Capital Explorer AB via Globenewswire


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