<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>dex991.txt
<DESCRIPTION>PRESS RELEASE ISSUED DECEMBER 6, 2002
<TEXT>
<PAGE>


                                                                    Exhibit 99.1

Contact:  Charles A. Bowman
          704-752-4452

              E-mail:  investor@spx.com


               SPX CORPORATION ANNOUNCES OFFERING OF $250 MILLION
                            OF SENIOR UNSECURED NOTES

     CHARLOTTE, NC -- December 6, 2002 -- SPX Corporation (NYSE:SPW) has
announced that it will file today with the Securities and Exchange Commission a
preliminary prospectus supplement relating to a new issue by SPX Corporation of
$250 million aggregate principal amount of senior unsecured ten-year notes under
SPX's existing base shelf prospectus. SPX intends to use the net proceeds from
the offering, together with available cash and borrowings under a proposed
refinancing of its senior credit facility, to refinance the Tranche A term loan
of its senior credit facility, reduce the amount of the Tranche B and C term
loans of its senior credit facility and for general corporate purposes,
including the possible repayment of debt.

     The offering will be managed by a group led by J.P. Morgan Securities Inc.
and other institutions. The preliminary prospectus supplement relating to this
offering, as well as SPX's Internet home page, contains updated financial and
other information regarding SPX. A copy of the preliminary prospectus supplement
and related base shelf prospectus may be obtained from J.P. Morgan Securities
Inc. at 34 Exchange Place, Plaza 2, 4th Floor, Jersey City, New Jersey 07311,
Attention: Prospectus Department, Facsimile: (201) 524-8072. These documents are
being filed today with the Securities and Exchange Commission and will also be
available over the Internet from the SEC's website at http://www.sec.gov.

     This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these securities
in any state in which the offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of any such state.
Any offering will be made only by means of a prospectus supplement and related
base prospectus.

     SPX Corporation is a global provider of technical products and systems,
industrial products and services, flow technology and service solutions. The
Internet address for SPX Corporation's home page is www.spx.com.

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