BALTIMORE, MARYLAND, January 12, 2006 -- The Board of Directors of The Adams Express Company (NYSE:ADX) announced the Fund's investment returns for 2005 and declared a dividend.
2005 INVESTMENT RETURNS
For the twelve months ended December 31, the total return on Adams Express' net asset value, after adjusting for income dividends as well as capital gains distributions paid, was 4.5%. Comparable figures for the S&P 500 Index and for the Dow Jones Industrial Average were 4.9% and 1.7%, respectively.
DIVIDEND DECLARED
Adams Express declared a dividend of $0.05 per share, payable March 1, 2006, to stockholders of record, February 16, 2006, consisting of $0.02 investment income and $0.02 short-term capital gain, all realized in 2005, and $0.01 investment income realized in 2006.
NET ASSET VALUE ANNOUNCED
The net asset value of Adams Express at the end of 2005 is compared with the prior year in the following table:
|
|
12/31/2005 |
12/31/2004 |
|
|
$1,266,728,652 |
$1,295,548,900 |
|
|
86,099,607 |
86,135,292 |
|
|
$14.71* |
$15.04 |
*After capital gains distributions of $0.64 per share paid in 2005.
SECURITIES TRANSACTIONS DURING THE FOURTH QUARTER
During the fourth quarter, Adams Express added three new names to its investment list with the purchases of Advanced Medical Optics, Inc, Avon Products, Inc., and Masco Corp. The Company increased its holdings in Bunge Ltd., Comcast Corp., Fifth Third Bancorp, Gannett Co., Investors Financial Services Corp., Microsoft Corp., North Fork Bancorporation, and Outback Steakhouse. Two holdings were eliminated from the investment list with the sales of Provident Bankshares Corp. and Symantec Corp. The Company reduced its holdings in Aqua America, ConocoPhillips, Corning, Dean Foods, DiamondCluster International, Genentech, HCA, Laboratory Corp. of America Holdings, Martin Marietta Materials, and Wells Fargo.
The Adams Express Company is a Baltimore-based closed-end investment company. Its stock trades on the New York Stock Exchange and Pacific Exchange under the ticker symbol ADX.
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For further information, please contact:
Joseph M. Truta, President
Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary
at (410) 752-5900 or (800) 638-2479
E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
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