Adams Express Declares Year-End Distribution; Exceeds Its 6% Minimum Annual Distribution Rate Commitment

BALTIMORE, Nov. 8, 2012 /PRNewswire/ -- Adams Express (NYSE:ADX) declared today a year-end distribution of $0.52 per share. With this distribution, total distributions by the Fund for 2012 will be $0.67, including distributions of $0.15 per share made prior to today's announcement. The annual distribution rate represented by these distributions is 6.3%.

The year-end distribution consists of the following:

1) $0.47 per share from net capital gains realized during 2012,
comprised of $0.09 short-term and $0.38 long-term capital gain; and

2) $0.05 per share from 2012 net investment income.

This marks the 48^th consecutive year that the Fund has paid out capital gains and the 77^th consecutive year it has paid out dividends to its shareholders.

Commenting on the year-end distribution, Douglas G. Ober, Chairman and CEO of Adams Express, said: "This amount is consistent with our commitment to our shareholders that we will distribute each year an amount equal to at least 6% of the Fund's trailing 12-month average month-end market price. Our commitment reflects our long history of providing attractive distributions of dividend income and capital gains. We will continue to manage the portfolio for solid long-term returns while providing an annual distribution rate of at least 6% regardless of market conditions."

The payable date for the distribution is December 27, 2012, the record date is November 19, 2012, and the ex-dividend date is November 15, 2012. Both payments are payable in stock or cash at the option of each stockholder.

Please see the information posted at our website, www.adamsexpress.com, for more details concerning the 6% minimum annual distribution rate commitment and how the annual distribution rate is calculated.

Adams Express is a Baltimore-based closed-end investment company.

For further information, contact:
Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary
at (410) 752-5900 or (800) 638-2479.
e-mail: [email protected]
website: www.adamsexpress.com

SOURCE The Adams Express Company