BALTIMORE, MARYLAND -- MARCH 28, 2006 - The Adams Express Company held its Annual Meeting in Orlando, Florida, today and provided this update to its shareholders. The information was updated through March 17, 2006:
TOP TEN HOLDINGS
The ten largest portfolio holdings were:
Company |
% of Net Assets |
| Petroleum & Resources Corp.* |
4.9 |
| General Electric Co. |
3.9 |
| American International Group, Inc. |
2.6 |
| Microsoft |
2.4 |
| Pfizer Inc. |
2.2 |
| PepsiCo Inc. |
2.0 |
| Cisco Systems, Inc. |
2.0 |
| Bank of America |
1.9 |
| AMBAC Financial Group, Inc. |
1.8 |
| Schlumberger |
1.8 |
25.5% |
* Non-controlled affiliate
SECTOR WEIGHTINGS
The portfolio weightings for the major sectors that the Fund invests in were as follows:
| Consumer Staples |
10.2% |
| Consumer Discretionary |
6.9% |
| Energy |
10.9% |
| Financial |
16.9% |
| Health Care |
13.2% |
| Industrials |
13.0% |
| Materials |
5.9% |
| Technology |
13.3% |
| Telecom |
3.2% |
| Utilities |
4.6% |
| Cash & Equivalent |
1.9% |
PORTFOLIO UPDATE
The Company reported that it has added Florida Rock, Masco, and Morgan Stanley to its portfolio holdings, and has increased its holdings in Bankatlantic Bancorp. and Wachovia Corp.
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, General Counsel & Secretary
(410) 752-5900 or (800) 638-2479
E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
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