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SPX Corporation Completes General Signal Merger

7 October 1998

SPX Corporation Completes General Signal Merger

    MUSKEGON, Mich., Oct. 6 -- SPX Corporation today
announced that the merger with General Signal Corporation has been
completed.
    John B. Blystone, Chairman, President and Chief Executive Officer of SPX
Corporation said, "We are very excited about combining SPX and General Signal
to create a strong industrial and vehicle solutions company.  Our leadership
team will apply its proven Value Improvement Process(TM) to reduce corporate
costs, achieve operating efficiencies, enhance productivity, extend EVA-based
compensation and improve customer quality and service.  We're confident that
we can achieve superior growth and profitability for the combined company and
create value for our shareholders."
    Based on preliminary results, the cash election was oversubscribed.
However, the exact ratio of cash and stock that will be received by General
Signal shareholders which elected to receive cash or a combination of cash and
stock will not be determined until after the October 7 deadline for elections
made by guaranteed delivery.
    SPX Corporation is a global provider of industrial and vehicle solutions
including process and electrical controls, network technologies, service
solutions to franchised vehicle dealers, and components and service support to
vehicle manufacturers.  The Internet address for SPX Corporation's home page
is http://www.spx.com.