Approval of All Charter Amendments at Special Meeting
Adams Express Company
Baltimore, November 7, 2006 -- The Adams Express Company (NYSE: ADX) held a special meeting of stockholders today in Baltimore and announced that each of the eight charter amendments recommended by the Board of Directors was approved by the stockholders and received the affirmative vote of more than a majority of all votes entitled to be cast on the matter, as required by Maryland law. In addition, each amendment received the affirmative vote of at least 83 percent of the votes that were cast on the amendment.
Douglas G. Ober, Chairman and CEO, stated “I am very pleased that our stockholders took the time to vote on these important amendments and have voted for all of the amendments by wide margins, which will modernize our charter and provide our Board with additional flexibility to further the best interests of the Company and our stockholders.”
The Adams Express Company is a Baltimore-based closed-end investment company. It is traded on the New York Stock Exchange under the ticker symbol ADX.
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