April 3, 2003

BOARD OF DIRECTORS ELECTS STEPHEN E. KOHLER AS VICE PRESDENT-RESEARCH FOR THE ADAMS EXPRESS COMPANY

BALTIMORE, MARYLAND -- APRIL 3, 2003 - Stephen E. Kohler was elected Vice President-Research of the Adams Express Company on March 25, 2003. Mr. Kohler has been a research analyst with the Company since 1999, covering the technology and telecom industries. Prior to joining the Company, Mr. Kohler was an analyst with Deutsche Bank Alex.Brown Inc. Previously, he was with Deustche Bank in New York and First Interstate Bank.

Mr. Kohler is a Chartered Financial Analyst. He received his undergraduate degree in Economics from the University of Virginia and an MBA degree from Tulane University. He is on the Board of Directors for the South Baltimore Homeless Shelter.

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, Secretary & General Counsel
(410) 752-5900 or (800) 638-2479

E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com

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