The Adams Express Company Reports Performance for Third Quarter

Oct 14, 2010, 15:01 ET from Adams Express Company

BALTIMORE, Oct. 14 /PRNewswire-FirstCall/ -- The Adams Express Company (NYSE: ADX) today announced its performance for the nine-month period ended September 30, 2010.  The total return on net asset value, with dividends and capital gains reinvested, was 0.1%.  Comparable figures for the Standard & Poor's 500 Composite Stock Index ("S&P 500") and the Lipper Large-Cap Core Mutual Fund Average were 3.9% and 2.3%, respectively. The total return on Adams Express' market value was 0.1%.

For the twelve months ended September 30, 2010, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was 6.4%.  Comparable figures for the S&P 500 and the Lipper Large-Cap Core Mutual Fund Average were 10.2% and 8.0%, respectively.  The total return on Adams Express' market value was 6.7%.

Adams Express' net asset value at September 30, 2010, compared with the year earlier, is:

Net Asset Value

9/30/10

9/30/09

Net assets

$1,029,561,550

$998,184,870

Shares outstanding

87,428,532

86,117,331

Net assets per share

$11.78

$11.59

The net capital gain realized on investments for the nine months was $0.23 per share.

Year-to-date, the Company has repurchased 28,300 shares of its Common Stock.

Securities Transactions

During the quarter, Adams Express added one new name to its investment portfolio through the purchase of Life Technologies Corp. (a medical testing equipment company) and increased its holdings in Bunge Ltd., Cliffs Natural Resources, CVS/Caremark, and Dow Chemical.

In addition, Adams Express reduced its holdings in General Electric, Hansen Natural, Hospira, Potash Corporation of Saskatchewan, Spirit AeroSystems, and State Street.

Adams Express is a Baltimore-based closed-end investment company.  It is listed on the New York Stock Exchange under the symbol ADX. The Third Quarter Report will be mailed to stockholders and posted to our website: www.adamsexpress.com on or about October 22, 2010.

For further information please contact:

Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary

(410) 752-5900 or (800) 638-2479

Email: contact@adamsexpress.com

Website: www.adamsexpress.com

SOURCE Adams Express Company



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