The Adams Express Company Declares Dividend and Announces First Quarter Performance

BALTIMORE, April 9 /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, 2009, to stockholders of record May 15, 2009, and announced the Fund's benchmark-beating performance for the first quarter.

First Quarter Performance Tops Benchmarks

For the three months ended March 31st, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was -8.1 %. Comparable figures for the Standard & Poor's 500 Index and the Lipper Large-Cap Core Mutual Fund Average were -11.0 % and -9.8 %, respectively. The total return on Adams Express' market value was -5.6 %.

For the twelve months ended March 31st, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was -34.8 %. Comparable figures for the Standard & Poor's 500 Index and the Lipper Large-Cap Core Mutual Fund Average were -38.1 % and -37.3 %, respectively. The total return on Adams Express' market value was -35.2 %.

Adams Express' net asset value at March 31, 2009, is compared with the year earlier in the following table:

                                     Net Asset Value

                                   3/31/09            3/31/08
           Net assets              $760,002,176       $1,262,297,665
           Shares outstanding      86,767,691         87,133,182
           Net assets per share    $8.76              $14.49

The net capital gain realized on investments at the end of the first quarter was $0.22 per share.

The Company repurchased 676,675 shares of its Common Stock during the quarter.

Securities Transactions

During the first quarter, six new names were added to the Company's portfolio with the purchases of shares of Atmos Energy Corp., Goldman Sachs Group, Inc., JPMorgan Chase & Co., Northwest Natural Gas Co., Walt Disney Co., and WGL Holdings, Inc. The Company added to its holdings in Avon Products, Bank of America, Coca-Cola, Du Pont, General Electric, Harsco, McDonald's, Prudential Financial, and Visa. Three names were eliminated from the portfolio with the tender of the shares of Genentech to Roche Holdings AG in connection with their merger and the sales of Prosperity Bancshares and Wilmington Trust. The holdings in Schlumberger and State Street were reduced.

The First Quarter Report to Stockholders is expected to be released on or about April 17, 2009.

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: www.adamsexpress.com

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SOURCE The Adams Express Company



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