The Adams Express Company Declares Year-End Distribution of Capital Gains and Investment Income

BALTIMORE, Nov. 11, 2010 /PRNewswire-FirstCall/ -- The Board of Directors of The Adams Express Company (NYSE: ADX) declared today a year-end distribution of $0.36 per share, consisting of the following:

1) a capital gains distribution of $0.34 per share from net capital gains realized during 2010, comprised of $0.07 short-term and $0.27 long-term capital gain; and

2) an income dividend of $0.02 per share from 2010 net investment income.

The payable date for the distribution is December 27, 2010, the record date is November 19, 2010, and the ex-dividend date is November 17, 2010. Both payments are payable in stock or cash at the option of each stockholder.

This marks the 46th consecutive year in which the Company has paid out capital gains to its stockholders and the 75th consecutive year of paying dividends to its stockholders.

With this distribution, total distributions by the Company for 2010 will be $0.51, including distributions of $0.15 per share made prior to today's announcement, which consisted of $0.12 from investment income, $0.02 from short-term capital gain, and $0.01 from long-term capital gain. This represents a 13% increase over the amount distributed by the Fund to its stockholders last year.

The annual distribution rate paid to stockholders by the Company for 2010 will be approximately 5.1%, calculated by dividing the total dividends and capital gains distributed during the year by the average daily market price of the Company's Common Stock.

For comparison, in 2009, the Company paid total distributions of $0.45, consisting of $0.15 in dividends and $0.30 in capital gains, and representing an annual distribution rate of 5.2%.

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

SOURCE Adams Express Company

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