BALTIMORE, MARYLAND -- APRIL 13, 2006 - The Adams Express Company (NYSE: ADX), today announced that Frederic A. Escherich has been named to the Board of Directors, effective February 9, 2006.
Mr. Escherich, 54, is a 25-year veteran of J.P. Morgan and now is a private investor. From 1993 until his retirement in December 2002, Mr. Escherich served as head of J.P. Morgan's Mergers & Acquisitions Research. Prior to that he was head of the Financial Advisory Department where he managed industry analyst teams in transportation and technology as well as the consumer and health care sectors. He earned his undergraduate degree at Dartmouth College and his M.B.A. at Columbia University.
Mr. Escherich says of his decision to join the Board: "I'm drawn to the closed-end fund structure and the role it plays in today's investment world. As an investor interested primarily in determining the fundamental value of a stock, the ability of the Fund to invest with a stable pool of capital is especially appealing to me."
The Adams Express Company is a Baltimore-based closed-end investment company. Its shares trade on the New York Stock Exchange and Pacific Exchange.
# # #
For further information, please contact:
Joseph M. Truta, President
Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary
(410) 752-5900 or (800) 638-2479
E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
For your convenience, all press releases are posted to our website. If you would like to receive future press releases by fax or e-mail, please let us know.