The Board of Directors of The Adams Express Company elected Mark E. Stoeckle, Chief Executive Officer, to the additional position of President, succeeding James P. Haynie, who was elected President of Petroleum & Resources Corporation, Adams Express's non-controlled affiliate. Mr. Haynie will continue to serve Adams Express as an Executive Vice President and member of the Fund's portfolio management team. In addition, D. Cotton Swindell has been elected an Executive Vice President of the Fund.

He will join Mr. Stoeckle and Mr. Haynie on the portfolio management team. Nancy J. F. Prue, Executive Vice President, will be leaving the portfolio management team to assume the new role of Executive Vice President, Director of Shareholder Communications. Mr. Swindell was Vice President-Research prior to becoming Executive Vice President and will continue to follow the industrials sector in his new position.

He joined Adams Express in 2002 as a research analyst covering the industrials sector. He was promoted to Vice President-Research in 2004, covering the financials and industrials sectors. Prior to joining Adams Express, he was a securities analyst with Wachovia Securities and with Alex.

Ms. Prue will become Executive Vice President, Director of Shareholder Communications for both Adams Express and Petroleum & Resources. In this newly-formed role, she will report directly to Mr. Stoeckle.