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ADAMS EXPRESS COMPANY BOARD DECLARES DIVIDEND

 BALTIMORE, Jan. 13 /PRNewswire/ -- The board of directors of The Adams Express Company (NYSE: ADX) today declared a $.12 per share dividend, payable March 1, 1994, to stockholders of record, Feb. 14.
 The $.12 consists of $.03 long-term capital gain and $.02 investment income, all realized in 1993, and $.07 investment income in 1994.
 Net Asset Value Announced
 The net asset value of Adams Express at the end of 1993 is compared with the year previous in the following table:
 Net asset value 12/31/93 12/31/92
 Net assets $840,610,252 $696,924,779
 Shares outstanding 42,497,665 34,026,625
 Net assets per share $19.78(A) $20.48
 (A) After capital gain distributions of $1.18 per share paid in 1993.
 For the 12 months ended Dec. 31, according to Indata's figures, total return on Adams Express net asset value, after adjusting for income dividends as well as capital gain distributions paid was 8.5 percent. Comparable figures for the Dow Jones Industrial Average and the Standard & Poor's Index of 500 Stocks were 17.1 percent and 10.1 percent, respectively.
 Securities Transactions
 During the three months ended Dec. 31, 1993, The Adams Express Company added eight new names to its investment list with the purchases of Cracker Barrel Old Country Store, Inc., First Union Corp., General Mills, Inc., Grupo Televisa, S.A. GDS, Merck & Co., Inc., PacTel Corp., PartnerRe Holdings, Ltd. and US West, Inc. The company increased its existing holdings in Capital Guaranty Corp., Ericsson (L.M.) Telephone Co., Integrated Health Services, Inc., Reinsurance Group of America, Inc., Schlumberger, Ltd. and Victoria Bankshares, Inc.
 Six issues were eliminated from the investment list with the sales of American Cyanamid Co., Bard (C.R.), Inc., Destec Energy, Inc., First Data Corp., Medco Containment Services, Inc. and York International Corp.
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 The Annual Report is expected to be released on or about Jan. 25, 1994.
 -0- 1/13/94
 /CONTACT: Joseph M. Truta, president, or J.G. Whitney, vp and secretary, of The Adams Express Company, 410-752-5900, or 800-638-2479/
 (ADX)


CO: The Adams Express Company ST: Maryland IN: SU: DIV

MK-JO -- PH024 -- 1818 01/13/94 15:07 EST
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Publication:PR Newswire
Date:Jan 13, 1994
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