Adams Express Announces Issue Price of Shares for Year-End Distribution

Date: 
12/09/2002
The Adams Express Company Announces Issue Price of Shares for Year-End Distribution Payable December 27, 2002

Baltimore, Maryland, December 9, 2002 -- The price at which The Adams Express Company common stock will be issued in payment of the optional income dividend and capital gain distribution (the stockholders may elect to receive cash or stock) payable December 27, 2002 is $10.715 per share. This price is the mean between today's high and low sales prices of the stock on the New York Stock Exchange. This price was less than the net asset value per share of $12.23.

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.

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For further information, please contact:

Joseph M. Truta, President
Lawrence L. Hooper, Jr., Vice President, Secretary & General Counsel
410-752-5900 or 800-638-2479

E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com

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Adams Express Announces Issue Price of Shares for Year-End Distribution

Stock and Distribution

Nav & Stock Price Per Share
Net Asset Value: $ 12.42
Closing Price:

$ 10.62

Discount: -14.5%

This is the closing price from the NYSE on 02/10/2012.

annual DISTRIBUTION Rate
2011 6.1%
5-Year Average 5.8%

The annual distribution rate is the total dividends and capital gain distributions during the year divided by the average month-end market price of the Company's Common Stock for the calendar year in years prior to 2011 and for the 12 months ended October 31 in 2011.  As of September 8, 2011, the Board of Directors committed to an annual distribution rate of at least 6%.