RNS Number:2332T
SPX Corporation
12 December 2003

For immediate release

                                                               December 12, 2003



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
  UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER RESTRICTED JURISDICTION



                                SPX CORPORATION

 Recommended Cash Offer by JPMorgan on behalf of SPX Air Filtration Limited (a
   wholly owned subsidiary of SPX Corporation) for McLeod Russel Holdings PLC

                           Posting of Offer Document

SPX Corporation ("SPX") announces that the Offer Document in respect of the
recommended cash offer by J.P. Morgan PLC ("JPMorgan") on behalf of SPX Air
Filtration Limited (the "Offeror") for McLeod Russel Holdings PLC ("McLeod
Russel"), which was announced on December 2, 2003, was posted to McLeod Russel
Shareholders today.

Forms of Acceptance should be completed, signed and returned in accordance with
the instructions set out in the Offer Document and in the Form of Acceptance, so
as to be received as soon as possible and, in any event, not later than 3.00
p.m. (London time) on January 2, 2004. Any extensions of the Offer will be
publicly announced by 8.00 a.m. (London time) on the business day following the
day on which the Offer was due to expire.

The contents of this announcement have been approved by J.P. Morgan PLC of 125
London Wall, London EC2Y 5AJ (regulated in the United Kingdom by the Financial
Services Authority).

The Offeror Directors and John B Blystone, Chairman, President and CEO of SPX,
accept responsibility for the information contained in this announcement, other
than that relating to the McLeod Russel Group, the Directors of McLeod Russel
and their immediate families, related trusts and persons connected with them,
for which the Directors of McLeod Russel accept responsibility as set out below.
To the best of the knowledge and belief of the Offeror Directors and John B
Blystone (who have taken all reasonable care to ensure that such is the case),
the information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information. The
Directors of McLeod Russel accept responsibility for the information contained
in this announcement relating to the McLeod Russel Group, themselves and their
immediate families, related trusts and persons connected with them. To the best
of the knowledge and belief of the Directors of McLeod Russel (who have taken
all reasonable care to ensure that such is the case) the information contained
in this announcement for which they are responsible is in accordance with the
facts and does not omit anything likely to affect the import of such
information.

JPMorgan, which is regulated in the UK by The Financial Services Authority, is
acting exclusively for SPX and the Offeror and no one else in connection with
the Offer and will not be responsible to anyone other than SPX and the Offeror
for providing the protections offered to customers of JPMorgan, or for providing
advice in relation to the Offer.

This announcement does not constitute an offer to sell or an invitation to
purchase any securities or the solicitation of an offer to buy any securities.
The Offer is not being made, directly or indirectly, in or into or by the use of
the mails of, or by any means or instrumentality (including, without limitation,
telephonically or electronically) of interstate or foreign commerce of, or
through any facilities of a national securities exchange of, the United States,
Canada, Australia, Japan or any jurisdiction where to do so would violate the
laws in that jurisdiction, and the Offer is not capable of acceptance from or
within the United States, Canada, Australia, Japan or any such other
jurisdiction. Accordingly, copies of the Offer Document, the Form of Acceptance
and any accompanying documents are not being, and must not be, directly or
indirectly, mailed or otherwise forwarded, distributed or sent in, into or from
the United States, Canada, Australia, Japan or any jurisdiction where to do so
would violate the laws in that jurisdiction, and persons receiving the Offer
Document, the Form of Acceptance and any accompanying documents (including
custodians, nominees and trustees) must not mail or otherwise distribute or send
them in, into or from such jurisdictions as doing so may invalidate any
purported acceptance of the Offer.

The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in such
jurisdictions into which this announcement is released, published or distributed
should inform themselves about and observe such restrictions. Receipt of this
announcement will not constitute an offer in those jurisdictions in which it
would be illegal to make the Offer and in such circumstances it will be deemed
to have been sent for information purposes only.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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