The Adams Express Company Reports Outperformance for Third Quarter

October 8, 2009 2:18 PM EDT

BALTIMORE, Oct. 8 /PRNewswire-FirstCall/ -- The Adams Express Company (NYSE: ADX) today announced that its performance for the nine-month period ended September 30, 2009 continues to top its benchmarks. The total return on net asset value, with dividends and capital gains reinvested, was 22.9%. Comparable figures for the Standard & Poor's 500 Composite Stock Index ("S&P 500") and the Lipper Large-Cap Core Mutual Fund Average were 19.3% and 20.4%, respectively. The total return on Adams Express' market value was an even better 23.9%.

For the twelve months ended September 30, 2009, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was (2.1)%. Comparable figures for the S&P 500 and the Lipper Large-Cap Core Mutual Fund Average were (6.9)% and (5.9)%, respectively. The total return on Adams Express' market value was (2.0)%.

Adams Express' net asset value at September 30, 2009, compared with the year earlier, is:

                                            Net Asset Value
                                            ---------------
                                      9/30/2009         9/30/2008
                                      ---------         ---------
    Net assets                      $998,184,870     $1,094,622,017
    Shares outstanding                86,117,331         85,506,641
    Net assets per share                  $11.59             $12.80

The net capital gain realized on investments for the nine months was $0.30 per share.

Year-to-date, the Company has repurchased 1,320,849 shares of its Common Stock.

Securities Transactions

During the quarter, Adams Express added two new names to its portfolio through the purchases of Apple Inc. and Google Inc., and increased its holdings in Capital One, JPMorgan Chase, Oshkosh, PNC Financial, QUALCOMM, and Senomyx.

In addition, Adams Express eliminated two positions from its portfolio with the sales of Goldman Sachs Group, Inc. and 3M Co., and reduced its holdings in Avon Products, Coca-Cola, Corning, Del Monte Foods, Hospira, Pfizer, and Teva Pharmaceutical.

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 16, 2009.

    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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