SPX Expects to Increase its Bank Facility by $425 Million

    MUSKEGON, Mich., Jan. 29 SPX Corporation today
announced that it expects to enter into an agreement this week to amend its
senior secured credit facility to provide for an additional term facility in
the amount of $300 million maturing on December 31, 2007, and to increase its
existing revolving credit facility by $125 million.
    John B. Blystone, Chairman, President and Chief Executive Officer of SPX
Corporation said, "The amendment to our credit agreement will provide
additional capacity for strategic bolt-on acquisitions.  By securing this
financial flexibility we can continue our focus on profitable growth through
internally developed technology, alliances and acquisitions."
    JP Morgan will be sole lead arranger and sole bookrunner for the senior
secured credit facility.
    SPX Corporation is a global provider of technical products and systems,
industrial products and services, service solutions, and vehicle components.
    Certain statements in this press release are forward looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended, and are
subject to the safe harbor created thereby.  These statements involve a number
of risks, uncertainties, and other factors including potential changes in
market conditions that could cause actual results to differ materially.
Please refer to the Company's filings with the Securities and Exchange
Commission for discussion of certain important factors that relate to forward
looking statements contained in this press release.  Although the Company
believes that the expectations reflected in any such forward looking
statements are reasonable, it can give no assurance that such expectations
will prove to be correct.