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SPX Corporation to Sell Best Power

18 November 1999

SPX Corporation to Sell Best Power

    MUSKEGON, Mich., Nov. 18 -- SPX Corporation today
announced it has signed a definitive agreement to sell its Best Power business
to Invensys, plc for $240 million.  The transaction is expected to be complete
by the end of the year, subject to Hart Scott Rodino review.

    Financial Details:
    *  Best Power's revenues for the twelve months ended September 30, 1999
       were $214 million.
    *  Its EBITDA for the twelve months ended September 30, 1999 was
       approximately $27 million.
    *  The sale is expected to result in a pretax profit.  Because of the
       significant $130 million of nondeductible goodwill, the company
       anticipates an after-tax loss of approximately $40 million.
    *  Approximately $10 million of financing costs will be written off as an
       extraordinary item in the fourth quarter as a result of the early
       extinguishment of debt.
    *  The disposal does not affect the company's earnings per share target of
       $5.80 before unusual items for the year 2000.

    Commenting on today's announcement, John B. Blystone, Chairman, President
and Chief Executive Officer said, "The sale is a natural step in our strategic
review process to bring focus within our business segments.  The proceeds will
initially be used to pay down debt and will give us additional flexibility to
pursue strategic investments, growth opportunities, and share repurchases.
Excluding the nonrecurring losses associated with this transaction, we are
still confident in analyst operating earnings estimates of $5.04 per share for
1999."
    Best Power, headquartered in Necedah, Wisconsin, is a global manufacturer
of uninterruptible power systems that protect computers, information networks,
and other critical systems from power-line disturbances.  Invensys is a global
electronics and engineering company headquartered in London.  Its Power
Systems division, based in Raleigh, North Carolina, provides a wide range of
power solutions to its global customer base, including power conditioners,
voltage regulators, batteries, and power supplies.
    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 and the Company's 1999 Third Quarter Form 10-
Q 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.