SPX Completes Sale of Vance International, Inc.

January 18, 2005

CHARLOTTE, N.C. -- SPX Corporation (NYSE: SPW) today announced that it has completed the sale of Vance International, Inc., its global investigation and security firm, to Garda World Security Corporation (TSX: GW) for $67.25 million in cash. On November 28, 2005, SPX announced it had signed a definitive agreement to sell Vance to Garda. The transaction is effective as of December 31, 2005.

Chris Kearney, President and CEO of SPX said, "We are focused on growing our three core growth platforms -- flow technology, test and measurement, and thermal equipment and services. As a result of this transaction, we will reduce our non-core assets and Vance will become part of a business with complementary services and expertise."

Garda is a leading provider of security and cash handling services. The company, known for its Total Security Solutions approach, provides physical security, investigation, employment background checks and electronic security services. The company is headquartered in Montreal, Canada and has nine locations in the United States.

Vance, based in Oakton, Virginia, is a global investigation and security firm known for its expertise in managing risks. With over 3,700 employees who bring highly specialized solutions to its clients, Vance has more than twenty years of experience and is one of the most trusted investigation and security consulting firms in the world. Founded in 1984, Vance was acquired by SPX in 2002. SPX expanded the expertise and reach of the business through acquisition and today the business carries the combined expertise of Vance International, Decision Strategies, and The Fairfax Group...

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