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  National  Financial  Services  Corp.  ("National")  (on  behalf of
registered  representatives of Oriental  Financial Services Corp.  ("Oriental"))
100% of the  applicable  sales  charge  on sales  of Class A shares  of the Fund
initiated  by  Oriental  during  the Sales  Period.  In  addition,  MFD will pay
National (on behalf of Oriental) an additional  commission equal to 0.50% of the
net asset  value of all of the Class B shares of the Fund sold by  National  (on
behalf of Oriental) during the Sales Period.

               The date of this Supplement is January 22, 1996.


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