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SPX Reiterates Confidence in $5.90 EPS for 2000

21 December 2000

SPX Reiterates Confidence in $5.90 EPS for 2000

    MUSKEGON, Mich., Dec. 21 SPX Corporation today
reaffirmed that the company remains comfortable with analysts' consensus
earnings estimate of $5.90 per share for the year excluding any gains or
losses.
    John B. Blystone, Chairman, President and Chief Executive Officer of SPX
Corporation said, "SPX is on track to complete another successful year.
Through the third quarter of the year, we completed more than 20 strategic
acquisitions.  We will continue this disciplined strategic acquisition program
while focusing on profitably growing our existing businesses where we have
competitive advantage, scale and growth potential."
    In 2001, the company's earnings growth may be impacted by a softening
economy.  In a slower growing economy SPX's earnings growth would be closer to
10% rather than the 15% EPS growth targeted in a reasonable economy.  The
Technical Products and Systems segment is positioned for growth across each of
the businesses.  Strong market recognition of the FC/9000 fibre channel
director is fueling growth at INRANGE Technologies.  Softness in the markets
for Industrial Products and Services will be balanced by growth in the power
systems business unit.  SPX anticipates that overall the second half of the
year will be stronger than the first half.
    SPX Corporation is a global provider of technical products and systems,
industrial products and services, 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 1999 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.