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2015-09-30

East Capital Explorer AB: Mikhail Urzhumtsev appointed CEO of Melon Fashion Group

East Capital Explorer today announces that Mikhail Urzhumtsev has been
appointed CEO of Melon Fashion Group, one of the Company's largest holdings,
as of 1 October, 2015. He will succeed Kestutis Sasnauskas, Head of Private
Equity and Real Estate within East Capital, who has been Acting CEO of Melon
Fashion Group since December 2014.

Mikhail Urzhumtsev has worked more than 20 years in various positions within
Melon Fashion Group, most recently as the company's President since 2013 and
prior to that, as CEO for eight years. During that period, Melon Fashion
Group's revenues grew from RUB 0.7 billion to RUB 8.5 billion, while the
number of stores increased from 74 to 541.

"Under Kestutis Sasnauskas' leadership, Melon Fashion Group has achieved
significant efficiency improvements, which has been crucial in the currently
challenging Russian consumer market. The company showed a top line growth of
23 percent during the first six months of this year. We are confident that
Mikhail, who now succeeds Kestutis as CEO, will continue the efficiency work
and strengthen the company further", said Mia Jurke, CEO of East Capital
Explorer.

Kestutis Sasnauskas will remain involved in Melon Fashion Group as a Board
Member, while continuing in his role as Head of Private Equity and Real
Estate within East Capital, East Capital Explorer's Investment Manager.

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 as well as real estate, but investments are also
made through East Capital's 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 Stockholm,
Mid Cap.

Listing:
Nasdaq Stockholm, Mid Cap -Ticker:
ECEX -ISIN:
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 11:00 a.m. CET on 30 September 2015.

150930 - Press Release
http://hugin.info/143006/R/1955559/712110.pdf

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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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