Adams Express Announces 2008 Performance

BALTIMORE, Jan. 15 /PRNewswire-FirstCall/ -- The Adams Express Company (NYSE: ADX) announces the Company's investment returns for 2008.

2008 INVESTMENT RETURNS

For the twelve months ended December 31, 2008, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was (34.4)%. Comparable figures for the S&P 500 Index and the Lipper Large-Cap Core Mutual Fund Average were (37.0)% and (37.2)%, respectively. The total return on Adams Express' market value was (38.9)%.

The annual rate of distribution to stockholders (the total dividends and capital gains distributed during the year divided by the average daily market price of the Company's stock) was 5.61%.

NET ASSET VALUE ANNOUNCED

The net asset value of Adams Express at the end of 2008 is compared with the prior year in the following table:

                                             12/31/08           12/31/07
           Net assets                     $840,012,143     $1,378,479,527
           Shares outstanding               87,406,443         87,668,847
           Net asset value per share             $9.61             $15.72

During the year, the Company repurchased 2,457,547 shares of its common stock.

SECURITIES TRANSACTIONS DURING THE FOURTH QUARTER

During the fourth quarter, Adams Express added two new name to its investment list with the purchases of Hospira Inc. and WGL Holdings (the WGL Holdings shares were subsequently sold during the quarter). The Company increased its holdings in Avon Products, Bank of America, Bunge, Coca-Cola, CVS/Caremark, Harsco, McDonald's, Oshkosh, Spirit AeroSystems Holdings, Transocean, Visa, Wells Fargo, and Zimmer Holdings. Two holdings were eliminated from the investment list with the sales of Harley-Davidson and WGL Holdings (as discussed above). The Company reduced its holdings in ConocoPhillips, Prosperity Bancshares, and Schlumberger.

OTHER SUMMARY FINANCIAL INFORMATION

                                        12/31/08             12/31/07
    Unrealized depreciation/
     appreciation                    $(111,981,824)       $410,454,970
    Net investment income              $21,085,039         $25,884,799
    Net realized gain                  $32,965,241         $60,426,376

    Key Ratios
    Net investment income to
     average assets                           1.82%               1.82%
    Expense ratio                             0.48%               0.44%
    Portfolio turnover                       18.09%              10.46%
    Cash to net assets                        10.6%                6.6%

TEN LARGEST PORTFOLIO HOLDINGS (12/31/08)

                                          % of Net Assets
    Petroleum & Resources Corporation*          5.0
    Microsoft                                   2.7
    General Electric                            2.7
    Pfizer                                      2.4
    PepsiCo                                     2.4
    Oracle                                      2.3
    Procter & Gamble                            2.3
    Unilever                                    2.2
    Genentech                                   2.2
    Exxon Mobil                                 2.0
                                               ----
                                               26.2%

    *Non-controlled affiliate

SECTOR WEIGHTINGS (12/31/08)

                           % of Net Assets

    Consumer                     20.7%
    Health Care                  15.8%
    Industrials                  13.4%
    Energy                       12.3%
    Information Technology       11.7%
    Short-term Investments       10.6%
    Financial                    10.0%
    Utilities                     3.0%
    Telecom Services              1.4%
    Materials                     1.1%

ANNUALIZED ONE, FIVE AND TEN YEAR COMPARATIVE RETURNS

    Returns on net asset value (12/31/08)
                                        1 Year      5 Year      10 Year
    Adams Express                       -34.4%       -1.2%       -0.8%
    S&P 500                             -37.0%       -2.2%       -1.4%
    Large-Cap Core Mutual Funds         -37.2%       -2.9%       -1.7%
    Large-Cap Growth Mutual Funds       -40.7%       -3.7%       -2.9%

The Adams Express Company is a Baltimore-based closed-end investment company. Its stock trades on the New York Stock Exchange under the ticker symbol ADX.

    For further information please contact:

    Joseph M. Truta, President
    Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary
    410-752-5900 or 800-638-2479

    E-mail: contact@adamsexpress.com
    Website: www.adamsexpress.com

For your convenience, all press releases are posted to our website. If you would like to receive future press releases by fax or e-mail, please contact us.

SOURCE The Adams Express Company



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http://www.adamsexpress.com

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