Adams Express Announces 2010 Performance

BALTIMORE, Jan. 13, 2011 /PRNewswire/ -- The Adams Express Company (NYSE: ADX) announces the Company's investment returns for 2010.

For the twelve months ended December 31, 2010, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was 11.2%. Comparable figures for the S&P 500 Composite Stock Index ("S&P 500") and the Lipper Large-Cap Core Mutual Fund Average ("Lipper Peer Group") were 15.1% and 12.9%, respectively. The total return on Adams Express' market value was 11.5%. As shown in the last chart provided below, the Company has outperformed both the S&P 500 and the Lipper Peer Group on a total return on net asset value basis for the three and five year periods ended December 31, 2010.

The annual distribution rate of dividends and capital gains paid to stockholders by the Company in 2010 was 5.1%, calculated by dividing the total dividends and capital gains distributed during the year by the average daily market price of the Company's Common Stock.

The net assets, shares outstanding, and net asset value per share of Adams Express at the end of 2010 compared with the prior year are:

During the year, the Company repurchased 28,300 shares of its common stock.

During the fourth quarter, Adams Express added five new names to its investment list with the purchases of ADTRAN, Inc., Caterpillar, Inc., CF Industries Holdings, Inc., FedEx Corp., and NetApp, Inc. The Company increased its holdings in Apple, Dow Chemical, Google, Morgan Stanley, and Potash Corporation. Five holdings were eliminated from the investment list with the sales of Dean Foods, Dell, Hansen Natural Corp., Harsco, and Visa. The Company reduced its holdings in Abbott Laboratories, Avon Products, Broadcom, Coca-Cola, CONSOL Energy, Del Monte Foods, Freeport-McMoRan, General Electric, Illinois Tool Works, Spirit AeroSystems, State Street, Unilever ADRs, United Technologies, and UnitedHealth Group.

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.

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SOURCE Adams Express Company