MFS SERIES TRUST V, 497, 1996-03-04

MFS SERIES TRUST V
497, 1996-03-04

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                                 MFS VALUE FUND
                            MFS EMERGING GROWTH FUND
                                MFS RESEARCH FUND

                      Supplement to the Current Prospectus



         During the period from March 1, 1996  through  March 29,  1996  (unless
extended by MFS Fund Distributors,  Inc. ("MFD")) (the "Sales Period"), MFD will
pay Wedbush Morgan  Securities  ("Wedbush  Morgan") 100% of the applicable sales
charge  on sales  of  Class A shares  of each of the  funds  listed  above  (the
"Funds") sold by Wedbush Morgan during the Sales Period.  In addition,  MFD will
pay  Wedbush  Morgan an  additional  commission  equal to 0.50% of the net asset
value of all of the Class B shares of the Fund sold by Wedbush Morgan during the
Sales Period.

                 The date of this Supplement is March 1, 1996.


                    MASSACHUSETTS FINANCIAL SERVICES COMPANY

            500 BOYLSTON STREET o BOSTON o MASSACHUSETTS 02116-3741
                                  617 954-5000