<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>dex992.txt
<DESCRIPTION>PRESS RELEASE ISSUED DECEMBER 6, 2002
<TEXT>
<PAGE>


                                                                    Exhibit 99.2

Contact:  Charles A. Bowman
          704-752-4452
          E-mail:  investor@spx.com


             SPX CORPORATION EXPECTS TO AMEND SENIOR CREDIT FACILITY

     CHARLOTTE, NC - December 6, 2002 - SPX Corporation (NYSE:SPW) today
announced that it expects to amend its senior secured credit facility. It is
expected that upon completion, the total balance outstanding will be reduced by
up to $187 million and all maturity dates will be extended to March 2008 or
later. The transaction is expected to close on or before December 27, 2002.
However, there can be no assurance that the amendment will be completed by this
date or under the terms described in this press release.

The expected changes to the agreement include:

    .     Refinancing the Tranche A term loan, extending the maturity from
          September 2004 to March 2008 and reducing the outstanding balance by
          up to $87 million.
    .     Reducing the Tranche B and C term loans by an aggregate of $100
          million.
    .     Refinancing the company's revolving portion of the senior credit
          facility, extending the maturity from September 2004 to March 2008 and
          reducing the capacity from $600 million to $500 million.

     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.

     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 public filings for 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.

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