The Adams Express Company Declares Dividend And Announces First Quarter Performance

Apr 11, 2001, 01:00 ET from Adams Express Company

    BALTIMORE, April 11 /PRNewswire/ -- The Board of Directors of The Adams
 Express Company (NYSE:   ADX) today declared an interim dividend of $0.08 per
 share, payable June 1, 2001, to stockholders of record May 18, 2001, and
 announced the fund's performance for the First Quarter.
     For the three months ended March 31st, the total return on Adams Express'
 net asset value, after adjusting for income dividends and capital gain
 distributions paid, was -17.5 percent.  Comparable figures for the Dow Jones
 Industrial Average and the Standard & Poor's Index of 500 Stocks were
 -8.0 percent and -11.9 percent, respectively.
     For the twelve months ended March 31st, according to INDATA, the total
 return on Adams Express' net asset value, after adjusting for income dividends
 as well as capital gain distributions paid, was -26.8 percent.  Comparable
 figures for the Dow Jones Industrial Average and the Standard & Poor's Index
 of 500 Stocks were -8.2 percent and -21.7 percent, respectively.
     Adams Express' net asset value at March 31, 2001, is compared with the
 year earlier in the following table:
 
 
                                           Net Asset Value
 
                                    3/31/01             3/31/00**
      Net assets                $1,596,852,420       $2,303,559,444
      Shares outstanding            81,926,962           79,806,340
      Net assets per share              $19.49*              $28.87
 
      *  After capital gain distribution of $0.04 per share paid in 2001.
      ** Adjusted for the 3-for-2 stock split which was paid on October 19,
         2000.
 
     SECURITIES TRANSACTIONS
     During the three months ended March 31, 2001, Adams Express added five new
 names to its investment list with the purchases of Genentech, Inc., Human
 Genome Sciences Inc., ITT Industries, Keyspan Corp., and Mirant Corp.  The
 Company increased its existing holdings in Canadian National Railway Co., Duke
 Energy Corp., Orion Power Holdings, Inc., TECO Energy, Inc., United Parcel
 Service, Inc., and United Technologies Corp.
     Seven issues were eliminated from the investment list with the sales of
 Cabot Corp., Chiron Corp., Delphi Automotive, Inc., Dover Corp., Hewlett-
 Packard Co., McDonald's Corp., and National City Corp.  Reductions were made
 in the holdings of First Data Corp. and Quest Communications International,
 Inc.
     The First Quarter Report is expected to be released on or about April 20,
 2001.
     The Adams Express Company is a Baltimore-based closed-end investment
 company.  It is traded on the New York Stock Exchange and Pacific Exchange,
 and its symbol is ADX.
 
 

SOURCE Adams Express Company
    BALTIMORE, April 11 /PRNewswire/ -- The Board of Directors of The Adams
 Express Company (NYSE:   ADX) today declared an interim dividend of $0.08 per
 share, payable June 1, 2001, to stockholders of record May 18, 2001, and
 announced the fund's performance for the First Quarter.
     For the three months ended March 31st, the total return on Adams Express'
 net asset value, after adjusting for income dividends and capital gain
 distributions paid, was -17.5 percent.  Comparable figures for the Dow Jones
 Industrial Average and the Standard & Poor's Index of 500 Stocks were
 -8.0 percent and -11.9 percent, respectively.
     For the twelve months ended March 31st, according to INDATA, the total
 return on Adams Express' net asset value, after adjusting for income dividends
 as well as capital gain distributions paid, was -26.8 percent.  Comparable
 figures for the Dow Jones Industrial Average and the Standard & Poor's Index
 of 500 Stocks were -8.2 percent and -21.7 percent, respectively.
     Adams Express' net asset value at March 31, 2001, is compared with the
 year earlier in the following table:
 
 
                                           Net Asset Value
 
                                    3/31/01             3/31/00**
      Net assets                $1,596,852,420       $2,303,559,444
      Shares outstanding            81,926,962           79,806,340
      Net assets per share              $19.49*              $28.87
 
      *  After capital gain distribution of $0.04 per share paid in 2001.
      ** Adjusted for the 3-for-2 stock split which was paid on October 19,
         2000.
 
     SECURITIES TRANSACTIONS
     During the three months ended March 31, 2001, Adams Express added five new
 names to its investment list with the purchases of Genentech, Inc., Human
 Genome Sciences Inc., ITT Industries, Keyspan Corp., and Mirant Corp.  The
 Company increased its existing holdings in Canadian National Railway Co., Duke
 Energy Corp., Orion Power Holdings, Inc., TECO Energy, Inc., United Parcel
 Service, Inc., and United Technologies Corp.
     Seven issues were eliminated from the investment list with the sales of
 Cabot Corp., Chiron Corp., Delphi Automotive, Inc., Dover Corp., Hewlett-
 Packard Co., McDonald's Corp., and National City Corp.  Reductions were made
 in the holdings of First Data Corp. and Quest Communications International,
 Inc.
     The First Quarter Report is expected to be released on or about April 20,
 2001.
     The Adams Express Company is a Baltimore-based closed-end investment
 company.  It is traded on the New York Stock Exchange and Pacific Exchange,
 and its symbol is ADX.
 
 SOURCE   Adams Express Company