Adams Express and Petroleum & Resources Elect Treasurer
Adams Express Company and Petroleum & Resources Corporation


Baltimore, MD, June 12, 2009 -- The Board of Directors of both Adams Express Company (NYSE:ADX) and Petroleum & Resources Corporation (NYSE: PEO) elected Brian S. Hook, CFA, CPA as Treasurer effectively immediately.

Prior to joining the Companies in September 2008, Mr. Hook was a Vice President at T. Rowe Price Associates and a Senior Manager in its Investment Treasury Group where he focused on accounting, reporting, and valuation policies for global investment products. Prior to that, he was a Business Assurance Manager with Coopers & Lybrand L.L.P. (a predecessor firm of PricewaterhouseCoopers, L.L.P.) serving investment management and private equity clients.

"Since joining the Companies last Fall as Assistant Treasurer, Brian has demonstrated both the expertise and the attributes necessary to move the companies forward on sound financial footing and to lead our accounting and trading teams," said Doug Ober, Chairman and CEO.

Mr. Hook earned a B.S. in Accounting and a B.S. in Finance (both Cum Laude) along with a minor in Management Information Systems from the University of Delaware and a M.S. in Finance from The Johns Hopkins University. He is a Chartered Financial Analyst and a Certified Public Accountant.

The Adams Express Company and Petroleum & Resources Corporation are Baltimore-based closed-end investment companies. They are traded on the New York Stock Exchange and their symbols are ADX and PEO, respectively.



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