November 11, 2004

THE ADAMS EXPRESS COMPANY DECLARES YEAR-END CAPITAL GAIN DISTRIBUTION AND INVESTMENT INCOME DIVIDEND

BALTIMORE, MARYLAND, November 11, 2004 -- The Board of Directors of The Adams Express Company declared the following year-end capital gain distribution and income dividend, payable December 27, 2004, to stockholders of record as of November 23, 2004:

1) a capital gain distribution of $0.64 per share, representing the undistributed net capital gain realized during 2004, of which $0.63 was long-term and $0.01 was short-term; and

2) an income dividend of $0.11 per share, representing the undistributed net investment income for 2004.

Both payments are payable in stock or cash at the option of each stockholder. The ex-dividend date for the year-end distribution is November 19, 2004.

Distributions in 2004 made prior to today's announcement were $0.15 per share, consisting of $0.13 from investment income, $0.01 from long-term capital gain, and $0.01 from short-term capital gain. Accordingly, total distributions by the Company for 2004 will be $0.90. In 2003, the Company paid total distributions of $0.17 in dividends and $0.61 in capital gains.

Adams Express 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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