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ADAMS DIVERSIFIED EQUITY FUND, INC. Director's Dealing 2005

Feb 2, 2005

31467_dirs_2005-02-02_ae9578d6-681d-48f3-856a-647ec67afb75.zip

Director's Dealing

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SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: ADAMS EXPRESS CO (ADX)
CIK: 0000002230
Period of Report: 2004-12-31

Reporting Person: TRUTA JOSEPH M (President)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2004-12-31 Common Stock J 14247 Acquired 185075 Indirect
2004-12-31 Common Stock J 1417 Acquired 16497 Indirect
2004-12-31 Common Stock J 180 Acquired 2715 Direct

Footnotes

F1: The number of shares of Common Stock 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 12/31/2004, the most recent date as of which such information is available. This number reflects periodic contributions made during 2004, shares acquired by the Trust through dividend reinvestment, and changes in the number of shares previously reported due to fluctuations in market price and interests in the Trust. Shares were acquired by the Trustee at various times during 2004. The Issuer's stock traded in a range of $13.91-$12.06 during the year 2004.

F2: The number of shares of Common Stock reported as held by Petroleum & Resources Corporation (PEO) 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 12/31/2004, the most recent date as of which such information is available. This number reflects periodic contributions made during 2004, shares acquired by the Trust through dividend reinvestment, and changes in the number of shares previously reported due to fluctuations in market price and interests in the Trust. Shares were acquired by the Trustee at various times during 2004. The Issuer's stock traded in a range of $13.91-$12.06.

F3: Shares were acquired as exempt transactions as a result of dividend reinvestment. Shares were acquired at various times during 2004. The Issuer's stock traded in a range of $13.91-$12.06.