News Release

CHARLOTTE, N.C. and SCOTTSDALE, Ariz., Jan. 20, 2012 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that the company will donate a customized 2012 Ford Mustang GT to be auctioned off at the 2012 Barrett-Jackson Collector Car Auction, with all proceeds going to St. Jude Children's Research Hospital (www.StJude.org).

The highest bidder will secure a unique 2012 Ford Mustang GT Custom Coupe specially designed and crafted by Galpin Auto Sports. The unique and highly modified vehicle made its public debut at the Barrett-Jackson auction in Las Vegas in September 2011, and has since made appearances at car shows and events in the United States. The auction is scheduled to take place at Barrett-Jackson in Scottsdale, Arizona on Friday, January 20, and will be televised live on the SPEED Channel Cable Network between 6:00 p.m. and 8:00 p.m. Mountain time, 8:00 p.m. and 10:00 p.m. Eastern time.

This marks the third consecutive year that SPX has donated a car to benefit St. Jude's annual fundraising efforts.  In the past two years, SPX has helped raise more than $450,000 for the organization.

"SPX is pleased to continue its relationship with St. Jude Children's Research Hospital, an amazing organization that does so much to advance the treatment and prevention of catastrophic childhood diseases," said Christopher J. Kearney, Chairman, President and Chief Executive Officer of SPX. "We are proud to once again contribute to the important care that St. Jude's provides to so many children and their families.  We also thank the great people at Barrett-Jackson and Galpin Auto Sports for collaborating with us on this worthwhile project, and look forward to rewarding the highest bidder in Scottsdale with a truly amazing car."

SPX enlisted the services of Galpin Auto Sports to outfit this special edition Ford Mustang GT Custom Coupe, designed to embody a modern interpretation of the iconic 1969 Boss 429 Mustang. This special Mustang is outfitted with Ford Racing Performance Springs, Wilford brakes, custom-built Forgiato 3-piece wheels equipped with Pirelli P-Zero Rosso tires. The car also features custom red suede and black leather trimmed upholstery with a suede headliner featuring red contrast stitching, custom embroidered headrests, re-upholstered steering wheel with suede, SPX Sunpro Gauge Pod Kit and an SPX Sunpro Tachometer and Shift light. 

The 2012 Mustang GT Custom Coupe features a custom formulated PPG Candy Apple Red Pearl Paint exterior paint job, custom fabricated front spoiler and a 2012 Boss Laguna Seca Rear spoiler. In keeping with the 1969 Boss 429 theme, the hood features a custom modified original 1969 Mustang BOSS 429 hood scoop and features custom painted valve covers and Canton polished aluminum intercooler and radiator overflow tanks.

"The team at Galpin Auto Sports built an incredibly beautiful car that we're confident will not only cause a stir among bidders, but also generate as much money as possible for a great cause that we strongly support," Kearney added.

To view video footage, photos and more information about the 2012 Ford Mustang GT Custom Coupe that SPX is auctioning off to benefit St. Jude Children's Research Hospital on January 20, 2012, please visit http://www.pwrnewmedia.com/2012/spx/mustang/.

About the Barrett-Jackson Auction - Scottsdale, Arizona, Jan. 15 - 22, 2012
For over four decades, the Barrett-Jackson Auction Company has been recognized throughout the world for offering only the finest selection of quality collector vehicles, outstanding professional service, and an unrivaled sales success. From classic and one-of-a-kind vehicles to exotics and muscle cars, Barrett-Jackson attracts only the best.  The auction features approximately 1,000 of the world's finest collector and special-interest automobiles and is attended by approximately 200,000 collectors and enthusiasts from around the globe.  For more information, please visit www.barrett-jackson.com/events/scottsdale/.

About SPX

Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global Fortune 500 multi-industry manufacturing leader with over $5 billion in annual revenue, operations in more than 35 countries and over 18,000 employees. The company's highly-specialized, engineered products and technologies serve customers in three primary strategic growth markets: infrastructure, process equipment and diagnostic tools. Many of SPX's innovative solutions are playing a role in helping to meet rising global demand, particularly in emerging markets, for electricity, processed foods and beverages and vehicle services. The company's products include thermal heat transfer equipment for power plants; power transformers for utility companies; process equipment for the food & beverage industry; and diagnostic tools and equipment for the vehicle service industry. For more information, please visit http://www.spx.com/.

Certain statements in this press release may be 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 our public filings for a discussion of certain important factors that relate to forward-looking statements contained in this press release. The word "expect," "believe" and similar expressions may identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Statements in the press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.

SOURCE SPX Corporation

Ryan Taylor (Investors), +1-704-752-4486, investor@spx.com, or Jennifer H. Epstein (Media), +1-704-752-7403, +1-704-804-3717, jennifer.epstein@spx.com