X0201 5 2003-12-31 0 0 1 0000002230 ADAMS EXPRESS CO ADX 0001202949 OBER DOUGLAS G 7 ST PAUL STREET STE 1140 BALTIMORE MD 21202 1 1 0 0 Chairman and CEO Common Stock 2003-10-28 4 I 0 L 4130 12.15 D 15196 I By Issuer's Thrift Plan Trust Common Stock 2003-12-31 5 J 0 1892 A 15196 I By Issuer's Thrift Plan Trust Common Stock 2003-12-31 5 J 0 5 A 87 D There was a decrease in the undersigned's number of shares held by the Issuer's Thrift Plan Trust due to a $50,000 loan obtained by the undersigned from the Trust in a transaction exempt under 16(b)(3). The number of shares of Common Stock reported as held by the Issuer's Thrift Plan Trust represents the undersigned's remaining proportionate beneficial interest in such stock held in the trust. Such number is based on information as of December 31, 2003, the most recent date as of which such information is available. This number reflects periodic contributions made during 2003 and fluctuations in market price and interest in the Trust. Shares were acquired by the Trustee at various times during 2003. The Issuer's stock traded in a range of $23.77-$18.28. Shares were acquired as exempt transactions as a result of dividend reinvestment. Shares were acquired at various times during 2003. The Issuer's stock traded in a range of $23.77-$18.28. Douglas G. Ober 2004-02-12