X0304 4 2011-12-31 0 0000002230 ADAMS EXPRESS CO ADX 0001202949 OBER DOUGLAS G 7 ST PAUL STREET STE 1140 BALTIMORE MD 21202 1 1 0 0 Chairman & CEO Common Stock 2011-12-31 5 J 0 E 8925 0 A 103712 I By Issuer's Thrift Plan Trust Common Stock 2011-12-31 5 J 0 E 1040 0 A 43364 D Common Stock 2012-01-09 4 M 0 6971 8.935 A 50335 D Common Stock 2012-01-09 4 M 0 6971 9.97 D 43364 D Stock Option w/tandem SARs 8.935 2012-01-09 4 M 0 6971 0 D 2012-01-01 2012-01-10 Common Stock 6971 0 D The number of shares reported as held by the Issuer's Thrift Plan Trust represents the undersigned's proportionate beneficial interest in such stock held in the Trust. Such number is based on information as of December 31, 2011. This number reflects periodic contributions made during 2011, shares acquired by the Trustee through dividend reinvestment, and changes in the number of shares previously reported due to fluctuations in the market price and interests in the Trust. Shares were acquired by the Trustee at various times during 2011. The Issuer's stock traded in a range of $8.63-11.70 during 2011. These shares were acquired in exempt transactions as a result of dividend reinvestment. The Issuer's stock traded in a range of $8.63-11.70 during 2011. The tandem stock option to purchase 6971 shares has also been cancelled. Douglas G. Ober 2012-01-10