The Adams Express Company Declares Dividend and Reports Performance for the First Half of 2008

    BALTIMORE, July 10 /PRNewswire-FirstCall/ -- The Board of Directors of
 The Adams Express Company (NYSE:   ADX) today declared a dividend of $.05 per
 share, payable September 1, 2008, to stockholders of record on August 12,
 2008, and announced the Fund's performance for the first half of 2008.
 
     Performance
 
     For the six months ended June 30th, the total return on Adams Express'
 net asset value, after adjusting for income dividends and capital gain
 distributions paid, was -11.9%. Comparable figures for the Standard &
 Poor's 500 Index and the Lipper Large Cap Core Mutual Fund Average were
 -11.6% and -11.5%, respectively. The total return on Adams Express' market
 value, after adjustment, was -15.4%.
 
     For the twelve months ended June 30th, the total return on Adams
 Express' net asset value, after adjusting for income dividends as well as
 capital gain distributions paid, was -13.4%. Comparable figures for the
 Standard & Poor's 500 Index and the Lipper Large Cap Core Mutual Fund
 Average were -13.1% and -12.3%, respectively. The total return on Adams
 Express' market value, after adjustment, was -14.4%.
 
 

 
     Adams Express' net asset value at June 30, 2008, compared with the year
 earlier, is:
 
                                    Net Asset Value
                           6/30/2008               6/30/2007
     Net assets            $1,190,420,881          $1,465,249,907
     Shares outstanding    86,647,623              85,893,132
     Net assets per share  $13.74*                 $17.06
 
     *After capital gain distribution of $0.02 per share paid in March 2008.
 
     The net capital gain realized through June 30, 2008, was $0.22 per share.
     The Company repurchased 1,063,308 shares of its Common Stock during the
 six month period.
 
     Securities Transactions
 
     During the three months ended June 30, 2008, the Company added three
 new names to its investment list with the additions of Chevron Corp.,
 Halliburton Co., and Hansen Natural Corp. The Company increased its
 holdings in Oshkosh, Prudential Financial, Spirit AeroSystems, Tata Motors,
 and Unilever.
 
     Seven issues were eliminated from the investment list with the sales of
 Aqua America, BJ's Wholesale Club, ENSCO International, Fifth Third
 Bancorp., Gannett, Marathon Oil, and United Parcel Service. The Company
 reduced its holdings in Emerson Electric and Rohm & Haas.
 
     The Adams Express Company is a Baltimore-based closed-end investment
 company traded on the New York Stock Exchange under the symbol ADX. The
 Semi-Annual Report is expected to be released on or about July 18, 2008.
 
 

     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
 
 

SOURCE The Adams Express Company