News Release

Group of Executives Discusses How Potential New Climate Change Accord May Impact Global Business Environment

DALIAN, CHINA - September 11, 2009 - SPX Corporation (NYSE: SPW) today announced that its Chairman, President and Chief Executive Officer, Christopher J. Kearney, participated in an energy-focused panel discussion at the World Economic Forum's Annual Meeting of the New Champions, known as "Summer Davos," in Dalian, China on September 11, 2009.  The global summit brings together more than 1,000 influential stakeholders and business champions from rapidly emerging economies, such as China, India, Russia, Mexico, and Brazil as well as developed countries.

Mr. Kearney's panel entitled "The New Climate Framework: What Will Copenhagen Mean for Tomorrow's Global Companies?" focused on the possible global business implications of a new climate change accord.  The potential new accord, which would succeed the 1997 Kyoto Protocol, is expected to be reached at the United Nations Framework Convention on Climate Change taking place in Copenhagen at the end of 2009.  Executives joining Mr. Kearney on the panel to share their expertise included:

• Yvo De Boer, Executive Secretary, United Nations Framework Convention on Climate Change;
  

• Mark Norbom, President and Chief Executive Officer, GE, People's Republic of China
  
• Caio Koch-Weser, Vice-Chairman, Deutsche Bank Group, Deutsche Bank, United Kingdom; and
  
• Wu Changhua, Greater China Director, The Climate Group, People's Republic of China.

The panel was hosted and moderated by Geoff Cutmore, an anchor for CNBC -TV, which filmed portions of the debate for broadcast.

"Two of the most promising ways the world can drive increased energy capacity while also addressing climate change are increased investments in nuclear power and efficiency improvement technology for the broader power sector," said Mr. Kearney in addressing the panel.  "Nuclear power is proven, safe and emits zero greenhouse gases, while generating the kind of base load power advanced economies require. China is rapidly building new nuclear capacity. The U.S., which has not built a new nuclear plant in 30 years, needs to do the same.  To do this, we must lower the risk of investment in nuclear energy.  A key step would be a six or seven-fold expansion of the U.S. Government loan guarantee program for nuclear investments, since the current $18.5 billion program will only cover about 15% of the value of pending nuclear plant applications," he added.

"Stepped up investment in efficiency improvement technologies for the power sector could play a significant role in reducing CO2 emissions," continued Mr. Kearney.  "In the U.S., our antiquated power grid causes us to needlessly waste up to 10% of all the electricity we generate, resulting in additional, unnecessary CO2 emissions. Additionally, U.S. coal plants operate at about 33% efficiency, while new plants can operate at about 45% or more efficiency.  Each percent increase in efficiency could reduce 50 million metric tons of CO2 a year in the U.S. alone."  

Meeting the Rising Global Demand for Power and Energy

SPX serves the global power and energy markets with innovative technologies and products used in the construction of new, more efficient power plants and the modernization and maintenance of older, existing facilities.

SPX is a leading provider of dry, wet and hybrid cooling systems, heat exchangers, air and flue gas systems and filter systems, utilized by thousands of power stations and plants in more than 60 countries across six continents. The company's flow solutions, which include valves, pumps and filtration products, have been applied to most forms of power generation, including coal, natural gas, nuclear power and waste to energy.  SPX is also a leading manufacturer of medium power transformers serving public and private utility companies and independent power producers.

About SPX

SPX Corporation is a Fortune 500 multi-industry manufacturing leader. The company offers highly-specialized engineered solutions to solve critical problems for customers.

SPX is focused on providing solutions that support the expansion of global infrastructure, with particular emphasis on the growing worldwide demand for energy and power. Its innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; custom engineered process equipment that assists a variety of flow processes including food and beverage manufacturing, oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that regulate voltage for electrical transmission and distribution by utility companies.

SPX is headquartered in Charlotte, North Carolina and has employees in over 40 countries worldwide. Visit www.spx.com. (NYSE: SPW)

Certain statements in this press release including any statements relating to fulfillment of the terms of the referenced contracts, 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 "expected," "promises" 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.

Contact:
Ryan Taylor (Investors)
704-752-4486
E-mail: investor@spx.com

Jennifer H. Epstein (Media)
Mobile: 704-804-3717 / Office: 704-752-7403
E-mail: jennifer.epstein@spx.com