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SPX Corporation Increases 1999 EPS Guidance to $5.00 per Share

3 May 1999

SPX Corporation Increases 1999 EPS Guidance to $5.00 per Share

    MUSKEGON, Mich., May 3 -- SPX Corporation today
announced that it is increasing its earnings per share guidance for 1999 from
$4.90 to $5.00 per share before unusual items.  The change is driven by top
line growth and first quarter operating performance.
    Commenting on today's announcement, John B. Blystone, Chairman, President
and Chief Executive Officer said, "Based on the excellent progress of our
restructuring program and our outlook for revenue growth, we are increasing
our EPS guidance for 1999 to $5.00 per share.  This EPS is 100% above the 1998
pro forma equivalent of $2.50 per share."
    Mr. Blystone also said, "We anticipate top line growth of 6% for the year.
We had a strong first quarter and are quickly benefiting from the
restructuring actions we announced in December relative to our merger with
General Signal.  Therefore, we are increasing our full year earnings guidance
for our current complement of businesses by $0.10 per share."
    The company is making a presentation today at the 1999 Spring Conference
of the Electrical Products Group.
    SPX Corporation is a global provider of industrial products and services,
technical products and systems, service solutions and vehicle components.  The
Internet address for SPX Corporation's home page is http://www.spx.com .
    Certain statements in this press release are forward looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, as
amended and are subject to the safe harbor created thereby.  Please refer to
the Company's Form 10-K for 1998 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.