Adams Express Provides Year-To-Date Update at Annual Meeting in Baltimore

Mar 19, 2009, 15:59 ET from The Adams Express Company

BALTIMORE, March 19 /PRNewswire-FirstCall/ -- The Adams Express Company (NYSE: ADX) held its Annual Meeting of Stockholders in Baltimore today and provided this update on year-to-date activity through March 13, 2009:


The year-to-date total return for the Company, including the reinvestment of income dividends as well as capital gains distributions paid, was -13.1% on net asset value and -12.8% on market value. Comparable figures for the Standard & Poor's 500 Index and the Lipper Large-Cap Core Mutual Fund Average were -15.7% and -14.4%, respectively. Net realized capital gains for the Company were $0.01 per share.


Since January 1, 2009, the Company has added five new names to its portfolio with the purchases of shares of Atmos Energy, Goldman Sachs Group, Northwest Natural Gas, Walt Disney, and WGL Holdings. The Company has added to its existing holdings in Avon Products, Bank of America, Coca-Cola, DuPont, General Electric, Harsco, McDonald's, Prudential Financial, State Street, and Visa. The Company deleted two names in its portfolio with the sales of shares of Prosperity Bancshares and Wilmington Trust. Holdings have been reduced in Schlumberger. The Company holds a cash position at 7.6% of net assets.

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


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SOURCE The Adams Express Company