East Capital Explorer AB - East Capital Explorer subsidiary to make mandatory takeover bid for shares in Melon Fashion Group

As a result of the previously announced deal with Swedfund International AB, a
subsidiary of East Capital Explorer intends to make a mandatory offer to buy out
the remaining shares in Melon Fashion Group (MFG), the unlisted Russian fashion
retailer with 550 shops in Russia and Ukraine, from its non-affiliates. Based on
the shareholder structure of MFG and intentions stated by other shareholders of
the company, the proportion of shares tendered in the mandatory offer is
expected to be limited. The final outcome of the bid will depend on the number
of non-affiliated shareholders who elect to participate in the mandatory
takeover offer.

Mia Jurke, CEO of East Capital Explorer AB says: "MFG remains one of the most
exciting retail companies in our investment universe and our investment manager,
East Capital, has taken an active role in the company which has potential for
further value growth."

The mandatory offer is expected to take place at the same price level as the
Swedfund transaction, which is now closed. The shares acquired will be held at
their fair value.

The mandatory offer will be launched during the first quarter of 2012 and is
expected to be completed during the second quarter. Please see East Capital
Explorer´s Year-end Report 2011 for further information regarding the mandatory
offer.

Contact information:

Mia Jurke, CEO, East Capital Explorer, [phone]
Charlotte Åsberg, Investor Relations Manager, East Capital Explorer,
[phone]

 Financial reporting calendar - East Capital Explorer:

* Monthly Net Asset Value report on the fifth working day after the end of
each month
* Year-end Report 2011, 15 February 2012
* Annual Report 2011 available in April 2012
* Annual General Meeting 2012 on 25 April 2012
* Interim Report 1 January - 31 March 2012, 8 May 2012
* Interim Report 1 January - 30 June 2012, 7 August 2012
* Interim Report 1 January - 30 September 2012, 9 November 2012

About East Capital Explorer - East Capital Explorer AB (publ) 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 alternative investment funds as well as in direct
investments into private and public companies. 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. East Capital Explorer is listed on NASDAQ
OMX Stockholm, Mid Cap.

120215 - Press Release:
http://hugin.info/143006/R/1585615/496493.pdf

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(i) the releases contained herein are protected by copyright and
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originality of the information contained therein.

Source: East Capital Explorer AB via Thomson Reuters ONE

[HUG#1585615]

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