News and Press Releases

SPX Cooling Technologies Receives Research Grant From U.S. Department of Energy

Full-Scale Installation to Validate Water Saving Capabilities of Air2Air&trade Technology

CHARLOTTE, NC, — July 11, 2006 — SPX Corporation (NYSE:SPW) today announced that its Cooling Technologies business has received a 3-year research grant from the Department of Energy National Energy Technology Laboratory (DOE/NETL) valued at over $600,000. Under the DOE/NETL Innovations for Existing Plant’s program, SPX will conduct a project titled “Use of Air2Air™ Technology to Recover Fresh-Water from the Normal Evaporative Cooling Loss at Coal-Based Thermoelectric Power Plants.”

As part of the project, SPX Cooling Technologies, Inc. will install a full-scale Air2Air™ equipped cooling tower in an existing U.S. power plant. “Several power plant operators have expressed an interest in this technology,” said Drew Ladau, President of SPX Cooling Technologies. “We’re in the final stages of our site selection process and expect to start construction of the test tower later this year.”

Evaporative cooling towers are one of the largest consumers of water in the United States. SPX’s patented Air2Air™ technology is designed to recover approximately 20% of the water evaporated in a cooling tower. According to the DOE/NETL, in the United States alone, power plant cooling towers evaporate an estimated 3 billion gallons of water a day.

Under Section 979 of the Energy Policy Act of 2005, the DOE is required to address issues related to adequate water supplies, optimal management, and efficient use of water and energy. The DOE/NETL Innovation for Existing Plants program has established a goal of reducing power plant freshwater withdrawals by a minimum of 5-10% by the year 2015. SPX’s Air2Air&trade technology represents an opportunity to provide water capacity to many water-starved portions of the United States.

Mr. Ladau said, “With the help of the Department of Energy, this research will accelerate the testing and development process to deliver a breakthrough technology that we believe will go a long way towards achieving the DOE’s 5-10% water conservation goal.”

SPX Cooling Technologies is a global leader in products and services related to thermal engineering for power plants and industries. With world-renowned brands including Balcke, Hamon Dry Cooling and Marley, the business manufactures and markets a wide range of equipment for use in applications including wet cooling, dry cooling, heat exchange, air pollution control and associated services. SPX Cooling Technologies serves its customers through an extensive network of direct sales, distribution partners and service representatives worldwide.

SPX Corporation is a leading global provider of thermal equipment and services, flow technology, test and measurement solutions and industrial products and services. For more information visit the company’s web site at http://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.

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