SCHEDULE 14A INFORMATION

                Proxy Statement Pursuant To Section 14(a) Of
                    The Securities Exchange Act Of 1934

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                              SPX Corporation
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                                    N/A
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SPX Corporation issued the following press release on January 10, 2005.

Contact: Jeremy W. Smeltser (Investors)          [GRAPHIC OMITTED: SPX LOGO]
         704-752-4478
         E-mail:  investor@spx.com

         Tina Betlejewski (Media)
         704-752-4454
         E-mail: spx@spx.com



                 SPX CORPORATION REDUCES DEBT $400 MILLION

            PLANS TO ANNOUNCE NEW FINANCIAL STRATEGY IN Q1 2005

     CHARLOTTE, NC - January 10, 2005 - SPX Corporation (NYSE: SPW) today
announced that it has used the net proceeds from the sale of BOMAG to pay
down $150 million of its Tranche A Term Loan and $250 million of its
Tranche B Term Loan. The company also terminated $700 million notional of
floating to fixed interest rate swaps. The company expects to record
charges associated with the termination of the floating to fixed interest
rate swaps and the write-off of deferred financing costs of approximately
$19 million in the first quarter 2005.

     SPX also said today that it is on schedule to announce its new
financial strategy in the first quarter and reconfirmed that it will use
the net proceeds from the sale of Edwards Systems Technology to pay down
debt and buy back equity.

     SPX Corporation is a global provider of technical products and
systems, industrial products and services, flow technology, cooling
technologies and services, and service solutions. The Internet address for
SPX Corporation's home page is 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 words "believe," "expect," "anticipate," "estimate,"
"guidance," "target" and similar expressions 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.

     SPX Corporation shareholders are strongly advised to read the proxy
statement relating to SPX Corporation's 2005 annual meeting of shareholders
when it becomes available, as it will contain important information.
Shareholders will be able to obtain this proxy statement, any amendments or
supplements to the proxy statement and any other documents filed by SPX
Corporation with the Securities and Exchange Commission for free at the
Internet website maintained by the Securities and Exchange Commission at
www.sec.gov. In addition, SPX Corporation will mail the proxy statement to
each shareholder of record on the record date to be established for the
shareholders' meeting. Copies of the proxy statement and any amendments and
supplements to the proxy statement will also be available for free at SPX
Corporation's Internet website at www.spx.com or by writing to Investor
Relations, SPX Corporation, 13515 Ballantyne Corporate Place, Charlotte,
North Carolina 28277, telephone (704) 752-4400.

     SPX Corporation, its executive officers and directors may be deemed to
be participants in the solicitation of proxies for SPX Corporation's 2005
annual meeting of shareholders. Information regarding these participants is
contained in a filing under Rule 14a-12 filed by SPX Corporation with the
Securities and Exchange Commission on December 9, 2004.

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