Adams Express Announces Benchmark-Beating 2009 Performance

BALTIMORE, Jan. 14 /PRNewswire-FirstCall/ -- The Adams Express Company (NYSE: ADX) announces the Company's superior investment returns for 2009.

2009 INVESTMENT RETURNS

For the twelve months ended December 31, 2009, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was 30.6%. 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 26.5% and 27.1%, respectively. The total return on Adams Express' market value was 32.1%. As shown in the last chart provided below, the Company has also outperformed both the S&P 500 and the Lipper Peer Group on a total return on net asset value basis for the five year period ended December 31, 2009.

The annual distribution rate of dividends and capital gains paid to stockholders by the Company in 2009 was 5.2%, 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.

NET ASSET VALUE ANNOUNCED

The net asset value of Adams Express at the end of 2009 is compared with the prior year in the following table:

During the year, the Company repurchased 1,369,749 shares of its common stock.

SECURITIES TRANSACTIONS DURING THE FOURTH QUARTER

During the fourth quarter, Adams Express added six new names to its investment list with the purchases of Bank of America Corp. Common Equivalent Securities, Cliffs Natural Resources Inc., Freeport-McMoRan Copper & Gold Inc., Morgan Stanley, and Potash Corporation of Saskatchewan Inc., and the receipt of shares of Mead Johnson Nutrition Co. in exchange for shares of Bristol-Myers Squibb Co. tendered. The Company increased its holdings in Bank of America common, Chevron, JPMorgan Chase, Oshkosh, Pfizer (through the merger with Wyeth Co.), QUALCOMM, Senomyx, Spectra Energy, and UnitedHealth Group. Three holdings were eliminated from the investment list with the sales of Corning Inc. and DuPont, and the merger of Wyeth Co. into Pfizer. The Company reduced its holdings in Avon, Bristol-Myers Squibb (by tender for shares of Mead Johnson), Capital One, Coca-Cola, ConocoPhillips, Dell, Hospira, and Unilever.

OTHER SUMMARY FINANCIAL INFORMATION

TEN LARGEST PORTFOLIO HOLDINGS (12/31/09)

SECTOR WEIGHTINGS (12/31/09)

ANNUALIZED ONE, FIVE AND TEN YEAR COMPARATIVE RETURNS

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 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 Adams Express Company