The Adams Express Company Declares Dividend and Announces First Quarter Performance

    BALTIMORE, April 10 /PRNewswire-FirstCall/ -- The Board of Directors of
 The Adams Express Company (NYSE:   ADX) today declared an interim dividend of
 $0.05 per share, payable June 1, 2008, to stockholders of record May 15,
 2008, and announced the Fund's performance for the first quarter.
 
     First Quarter NAV Performance Tops Benchmarks
 
     For the three months ended March 31st, the total return on Adams
 Express' net asset value, after adjusting for income dividends and capital
 gain distributions paid, was -7.5%. Comparable figures for the Standard &
 Poor's 500 Index and the Lipper Large Cap Core Mutual Fund Average were
 -9.4% and -10.2%, respectively. The total return on Adams Express' market
 value, after adjustment, was -11.1%.
 
     For the twelve months ended March 31st, the total return on Adams
 Express' net asset value, after adjusting for income dividends as well as
 capital gain distributions paid, was -3.3%. Comparable figures for the
 Standard & Poor's 500 Index and the Lipper Large Cap Core Mutual Fund
 Average were -5.1% and -5.6%, respectively. The total return on Adams
 Express' market value, after adjustment, was -4.1%.
 
     Adams Express' net asset value at March 31, 2008, is compared with the
 year earlier in the following table:
 
 

                                        Net Asset Value
                                   3/31/08            3/31/07
     Net assets                $1,262,297,665     $1,386,292,178
     Shares outstanding        87,133,182         86,079,089
     Net assets per share      $14.49*            $16.10
 
     *After capital gain distribution of $0.02 per share paid in March 2008.
     The net capital gain realized on investments at the end of the first
 quarter was $0.10 per share.
 
     The Company repurchased 575,308 shares of its Common Stock during the
 quarter.
 
     Securities Transactions
 
     During the first quarter, three new names were added to the Company's
 portfolio with the purchases of shares of Prudential Financial Inc.,
 Transocean Inc., and Visa Inc. The Company added to its existing holdings
 in CVS/Caremark, Morgan Stanley, Northeast Utilities, Oshkosh, Prosperity
 Bancshares, Spirit AeroSystems, Tata Motors, Wachovia, Wells Fargo, and
 Zimmer. The holdings in PepsiCo, Rohm & Haas, and State Street were
 reduced.
 
     The First Quarter Report is expected to be released on or about April
 18, 2008.
 
 

 
     The Adams Express Company is a Baltimore-based closed-end investment
 company.  It is traded on the New York Stock Exchange under the 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: http://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
 let us know.
 
 
 

SOURCE The Adams Express Company