88 CAPITAL CORP V.EEC

Still not much to move higher

[hereiam]

May 1, 2007 TSX-V symbol: EEC Not for distribution to U.S. newswires or for dissemination in the United States EAST ENERGY CLOSES $1MM FINANCING Vancouver, BC ---- East Energy Corp. (the “Company” or “East Energy”) is pleased to report that it has closed its previously announced, non-brokered private placement to raise gross proceeds of $1,000,000. In conjunction with the private placement, East Energy issued 1,250,000 Units (the “Units”) at $0.80 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant. Each full common share purchase warrant entitles the holder thereof to acquire one additional common share of the Company at $1.00 one year from closing or $1.20 in the second year from closing. A finder’s fee of 7% is payable in common shares. All securities issued in connection with the private placement are subject to a four month hold period. The proceeds of this private placement will be used for general working capital. East Energy is a mining company pursuing opportunities in the resource and energy sector in China and Canada. The company's shares are listed on the TSX Venture Exchange under the symbol EEC. ON BEHALF OF BOARD: “Howard Ratti” Howard Ratti President and CEO FURTHER INFORMATION: Investor Relations [phone] [e-mail] The TSX Venture Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this release.