The Adams Express Company Declares Dividend and Announces First Quarter Performance

BALTIMORE, April 14, 2011 /PRNewswire/ --The Board of Directors of The Adams Express Company (NYSE: ADX) today declared an interim dividend of $0.05 per share, payable June 1, 2011, to stockholders of record May 13, 2011, and announced the Fund's performance for the first quarter.

First Quarter Returns

For the three months ended March 31st, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was 4.2%. Comparable figures for the Standard & Poor's 500 Index (S&P 500) and the Lipper Large-Cap Core Mutual Fund Average (Lipper Peer Group) were 5.9% and 5.4%, respectively. The total return on Adams Express' market value was 6.4%.

For the twelve months ended March 31st, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was 9.8%. Comparable figures for the S&P 500 and the Lipper Peer Group were 15.6% and 13.5%, respectively. The total return on Adams Express' market value was 13.0%.

On a total return on net asset value basis for the three-year and five-year periods ended March 31, 2011, the Company has matched the performance of the S&P 500 and outperformed the Lipper Peer Group for the three-year period, and has outperformed both the S&P 500 and the Lipper Peer Group for the five-year period.

Adams Express' net asset value at March 31, 2011, is compared with the year earlier in the following table:

The net capital gain realized on investments for the three months was $0.08 per share.

Securities Transactions

During the first quarter, the Company added four new names to its portfolio with the purchases of shares of Celgene Corp. (biopharmaceuticals), Goodrich Corp. (aerospace and defense industries), National Oilwell Varco, Inc. (oil field services), and Teck Resources Ltd. (industrial metals). The Company added to its existing holdings in ADTRAN, Apple, CF Industries, Freeport-McMoRan (by stock split), Masco, NetApp, Potash Corp. (by stock split), Ryland, and Wells Fargo. The Company eliminated three names from its portfolio with the sales of shares of Cintas Corp. and Illinois Tool Works Inc, and the tender of its shares in Del Monte Foods Co. when that company underwent a leveraged buyout. Holdings were reduced in Emerson Electric, MDU Resources, Pfizer, Transocean, Unilever, and UnitedHealth Group.

The First Quarter Report to Stockholders is expected to be released on or about April 25, 2011.

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.

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SOURCE Adams Express Company