MFS SERIES TRUST V, 497, 1996-05-23

MFS SERIES TRUST V
497, 1996-05-23

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                            MFS EMERGING GROWTH FUND
                                MFS RESEARCH FUND

                      Supplement to the Current Prospectus



         During the period from May 28,  1996  through  August 26, 1996  (unless
extended by MFS Fund Distributors,  Inc. ("MFD")) (the "Sales Period"), MFD will
pay Advest,  Inc.  ("Advest")  100% of the  applicable  sales charge on sales of
Class A shares of each of the funds  listed above (the  "Funds")  sold by Advest
during  the  Sales  Period.  In  addition,  MFD will pay  Advest  an  additional
commission equal to 0.50% of the net asset value of all of the Class B shares of
the Funds sold by Advest during the Sales Period.

                  The date of this Supplement is May 28, 1996.