Bug: Incorrect display of CAD annotation data with ArcGIS 10.2.1 Utility Update 1 Patch 1
QFE-1021-DTES-293344: ArcGIS 10.2.1 for (Desktop, Engine, Server) Utilities and Telecom Update 1 Patch Local:
CAD annotation feature classes that are localized display incorrectly after installing the Utilities and Telecommunication Update 1 Patch.
If converting CAD data, there is no data corruption, this issue only impacts the display of CAD annotation.
This is a known issue.
There is no workaround at this time. Esri is working on a patch for this issue that will be available soon. Please refer back to this Knowledge Base article for updated information.