---

SPX Sets Special Shareholder Meeting for October 5, 1998

26 August 1998

SPX Sets Special Shareholder Meeting for October 5, 1998

    MUSKEGON, Mich., Aug. 26 -- SPX Corporation today
announced that its Board of Directors approved October 5, 1998, for a special
meeting of shareholders to vote on the proposed merger with General Signal
Corporation .
    The company's Board of Directors has established August 28, 1998 as the
record date for voting shares at that meeting.  The meeting will be held at
10:00 a.m. (Eastern Time) at the offices of Fried, Frank, Harris, Shriver &
Jacobson, in New York City.
    On July 20, 1998, SPX announced that the Board of Directors of both SPX
and General Signal had approved a definitive agreement for SPX to acquire
General Signal for cash and SPX shares.  Under the terms of the cash-election
merger, General Signal shareholders will receive a mixture of 60% SPX stock
and 40% cash in the aggregate in exchange for their General Signal shares,
with each shareholder able to choose among three options -- all cash, all SPX
stock or a 60/40 stock/cash combination, subject to proration to preserve the
overall 60/40 mixture.
    SPX received notice that the Hart-Scott-Rodino waiting period for the
transaction was terminated on August 23, 1998.  The transaction also requires
a vote by General Signal shareholders.
    SPX Corporation is a global provider of Vehicle Service Solutions to
franchised dealers and independent service locations, Service Support to
Vehicle Manufacturers, and Vehicle Components to the worldwide motor vehicle
industry.  The Internet address for SPX Corporation's home page is
http://www.spx.com.