MFS SERIES TRUST V, 497, 1996-01-29

MFS SERIES TRUST V
497, 1996-01-29

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                                MFS RESEARCH FUND

                      Supplement to the Current Prospectus



         During the period  from  January  22, 1996  through  February  29, 1996
(unless extended by MFS Fund  Distributors,  Inc. ("MFD")) (the "Sales Period"),
MFD will pay Southtrust  Investment  Services,  Inc.  ("Southtrust") 100% of the
applicable  sales  charge  on  sales  of  Class A  shares  of the  Fund  sold by
Southtrust  during the Sales  Period.  In addition,  MFD will pay  Southtrust an
additional  commission equal to 0.50% of the net asset value of all of the Class
B shares of the Fund sold by Southtrust during the Sales Period.

                The date of this Supplement is January 22, 1996.