BALTIMORE, MARYLAND – MARCH 20, 2015 –
The Adams Express Company (NYSE: ADX) and Petroleum & Resources Corporation (NYSE: PEO) today announced that the Funds have assumed new names and become part of a newly-branded Adams Funds platform. As part of the new branding, effective March 31, 2015, The Adams Express Company will be named Adams Diversified Equity Fund. Similarly, Petroleum & Resources Corporation will be named Adams Natural Resources Fund. The Funds’ ticker symbols will not change.
The two closed-end funds will continue to share a Board of Directors and be managed by an experienced team of portfolio managers and analysts, employing a disciplined approach to identifying investment opportunities and carefully managing risk. Since 1929, the Funds have consistently helped generations of investors reach their investment goals, having paid dividends for more than 80 years across many market cycles. Both Funds have lower than average expense ratios and are committed to paying an annual distribution rate of 6% or more, providing reliable income to long-term investors.
“These Funds are two of the nation’s oldest and most respected closed-end funds. We are very excited to rebrand the Funds with names that both highlight that proud history and more accurately reflect what we offer to investors today,” said Mark Stoeckle, Chief Executive Officer. “By bringing the Funds together under the Adams Funds brand platform, we are also more formally acknowledging the shared value proposition they offer to shareholders through their longstanding history, close relationship, consistently strong track records, and unwavering commitment to helping generations of investors reach their investment goals.”
Adams Funds will be launching a new website reflecting the new brand. In the interim, for further information please visit: www.adamsfunds.com.
For further information, please contact:
Lawrence L. Hooper, Jr.
General Counsel, Corporate Secretary, and Chief Compliance Officer
410.752.5900 or 800.638.2479