BALTIMORE, March 29, 2012 /PRNewswire via COMTEX/ -- The Board of Directors of The Adams Express Company ADX +0.46% and Petroleum & Resources Corporation PEO +0.91% elected Brian S. Hook, CFA, CPA as Chief Financial Officer, effective March 20, 2012. Mr. Hook has been Treasurer of the Companies since 2009 and was Assistant Treasurer from September 2008 to 2009.

Prior to joining the Companies, 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 with a prominence in investor protection. Prior to that, he was a Business Assurance Manager with Coopers & Lybrand L.L.P. (a predecessor firm of PricewaterhouseCoopers, LLP) serving investment management and private equity clients.

"We are very excited to have Brian serve in this new capacity. His varied and well-rounded skill set in accounting and finance has greatly benefitted the Companies during his tenure here," 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, a Certified Public Accountant, and a member of the Baltimore CFA Society.

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.