Eastnine — Capital/Financing Update 2007

Dec 12, 2007

PRESS RELEASE

Stockholm, December 12, 2007

East Capital Explorer invests EUR 18.3m in East Capital (Lux) Eastern European Fund

East Capital Explorer invests EUR 18.3m in East Capital (Lux) Eastern European Fund, a new compartment of East Capital's Luxembourg SICAV. The investment corresponds to 4.7% of the total proceeds of EUR 391m from the IPO.

The investment into East Capital (Lux) Eastern European Fund provides shareholders in East Capital Explorer with a potential for attractive returns while remaining accessible for future investment purposes. The new SICAV compartment, launched on December 12, 2007 will follow the same investment strategy and be managed by the same team as the award-winning Swedish-domiciled East Capital Eastern European Fund. It will invest broadly in a number of fast growing sectors across Eastern Europe.

Following this investment, East Capital Explorer has announced investments totaling EUR 191m, corresponding to 49% of the total proceeds from the IPO.

Contact information: Gert Tiivas, CEO East Capital Explorer +46 8 505 977 30 Louise Hedberg, Head of Communications/IR East Capital Explorer +46 8 505 977 20

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 November 9, 2007 East Capital Explorer is listed on the OMX Nordic Exchange Stockholm, mid-cap segment.

This information is such that East Capital Explorer must disclose in accordance with the Swedish Securities Market Act. The information was submitted for publication on December 12, 2007 at 08.20 CET.