MFS SERIES TRUST III
NSAR-A, 1996-09-23
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<PAGE>      PAGE  1
000 A000000 07/31/96
000 C000000 0000225604
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MFS SERIES TRUST III
001 B000000 811-2794
001 C000000 6179545000
002 A000000 500 BOYLSTON STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 MFS HIGH INCOME FUND
007 C030100 N
007 C010200  2
007 C020200 MFS MUNICIPAL HIGH INCOME FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
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008 B00AA01 A
008 C00AA01 801-17352
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02116
011 A00AA01 MFS FUND DISTRIBUTORS, INC.
011 B00AA01 8-27864
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02116
012 A00AA01 MFS SERVICE CENTER, INC.
012 B00AA01 84-1316
012 C01AA01 BOSTON
012 C02AA01 MA
<PAGE>      PAGE  2
012 C03AA01 02116
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   53
019 C00AA00 MASSFINSER
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020 C000004      0
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020 C000010      0
021  000000        0
022 A000001 GE FINANCIAL
022 B000001 06-1109503
022 C000001    296067
022 D000001         0
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002    127271
022 D000002     98526
022 A000003 CS FIRST BOSTON CORP.
022 B000003 13-5659485
022 C000003    148896
022 D000003     15534
022 A000004 DONALDSON LUFKIN
022 B000004 13-2741729
022 C000004     57706
022 D000004     59162
022 A000005 CHASE MANHATTAN
022 B000005 13-3112953
022 C000005    109385
022 D000005      2124
022 A000006 GRANT CHESTER
022 B000006 00-0000000
022 C000006     29791
022 D000006     74313
022 A000007 BEAR STEARNS & CO.
022 B000007 13-4946705
022 C000007     61111
022 D000007     29873
022 A000008 FORD MOTOR CREDIT
022 B000008 38-1612444
022 C000008     89706
022 D000008         0
022 A000009 HONG KONG-SHANGHAI
022 B000009 00-0000000
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<PAGE>      PAGE  3
022 D000009     13893
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054 E00AA00 N
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054 J00AA00 Y
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054 L00AA00 N
054 M00AA00 Y
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077 A000000 Y
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<PAGE>      PAGE  4
084 A00AA00 N
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085 A00AA00 Y
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013 B010101 BOSTON
013 B020101 MA
013 B030101 02110
015 A000101 STATE STREET BANK AND TRUST COMPANY
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015 C010101 BOSTON
015 C020101 MA
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015 B000102 S
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
048 B020100 0.000
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062 L000100   0.0
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<PAGE>      PAGE  7
062 Q000100   0.0
062 R000100   5.0
063 A000100   0
063 B000100  7.6
064 A000100 N
064 B000100 N
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070 A020100 N
070 B010100 N
070 B020100 N
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070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
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070 L020100 Y
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070 Q020100 N
070 R010100 N
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<PAGE>      PAGE  8
072 F000100     2074
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072 H000100        0
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072 J000100      155
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072 M000100       24
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072EE000100        0
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073 A020100   0.2100
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073 C000100   0.0000
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074 D000100   801374
074 E000100    45607
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074 H000100        0
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<PAGE>      PAGE  9
074 R030100        0
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076  000100     0.00
013 A000201 ERNST & YOUNG LLP
013 B010201 BOSTON
013 B020201 MA
013 B030201 02116
015 A000201 STATE STREET BANK AND TRUST COMPANY
015 B000201 C
015 C010201 BOSTON
015 C020201 MA
015 C030201 02110
015 E010201 X
015 A000202 THE BANK OF NEW YORK
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015 C010202 NEW YORK
015 C020202 NY
015 C030202 10286
015 E010202 X
015 A000203 CHEMICAL BANK
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015 C010203 NEW YORK
015 C020203 NY
015 C030203 10041
015 E010203 X
015 A000204 MORGAN GUARANTY TRUST COMPANY
015 B000204 S
015 C010204 NEW YORK
015 C020204 NY
015 C030204 10015
015 E010204 X
015 A000205 BANKERS TRUST COMPANY
015 B000205 S
015 C010205 NEW YORK
015 C020205 NY
015 C030205 10015
015 E010205 X
024  000200 N
028 A010200     12415
028 A020200      2225
<PAGE>      PAGE  10
028 A030200         0
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028 B020200      2233
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028 G010200     42887
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028 G030200         0
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028 H000200     36625
029  000200 Y
030 A000200    995
030 B000200  4.75
030 C000200  0.00
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032  000200    819
033  000200      0
034  000200 Y
035  000200    118
036 A000200 N
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037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 Y
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042 D000200   6
042 E000200   0
042 F000200   0
042 G000200   0
<PAGE>      PAGE  11
042 H000200   0
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048 E010200        0
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048 F010200        0
048 F020200 0.000
048 G010200        0
048 G020200 0.000
048 H010200        0
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048 I010200        0
048 I020200 0.000
048 J010200        0
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048 K010200        0
048 K020200 0.000
049  000200 N
050  000200 Y
051  000200 N
052  000200 N
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053 B000200 N
053 C000200 Y
055 A000200 Y
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056  000200 Y
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058 A000200 N
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060 A000200 N
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062 C000200   0.0
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062 E000200   0.0
062 F000200   0.0
<PAGE>      PAGE  12
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
062 N000200   0.0
062 O000200  99.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
063 A000200   0
063 B000200 20.6
064 A000200 Y
064 B000200 Y
065  000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
<PAGE>      PAGE  13
070 R010200 N
070 R020200 N
071 A000200    108244
071 B000200    131947
071 C000200   1034319
071 D000200   10
072 A000200  6
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072 I000200      737
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<PAGE>      PAGE  14
074 I000200        0
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SIGNATURE   JAMES O. YOST                                
TITLE       ASSISTANT TREASURER 
 


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<CIK> 0000225604
<NAME> MFS SERIES TRUST III
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   <NAME> MFS HIGH INCOME FUND CLASS-A
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<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000225604
<NAME> MFS SERIES TRUST III
<SERIES>
   <NUMBER> 012
   <NAME> MFS HIGH INCOME FUND CLASS-B
<MULTIPLIER> 1
       
<S>                             <C>
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<EXPENSE-RATIO>                                   1.80
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                              0.00
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000225604
<NAME> MFS SERIES TRUST III
<SERIES>
   <NUMBER> 013
   <NAME> MFS HIGH INCOME FUND CLASS-C
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JAN-31-1997
<PERIOD-START>                              FEB-1-1996
<PERIOD-END>                               JUL-31-1996
<INVESTMENTS-AT-COST>                        897424592
<INVESTMENTS-AT-VALUE>                       895780981
<RECEIVABLES>                                 21942608
<ASSETS-OTHER>                                    9602
<OTHER-ITEMS-ASSETS>                            234272
<TOTAL-ASSETS>                               917967463
<PAYABLE-FOR-SECURITIES>                       1784598
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      4088535
<TOTAL-LIABILITIES>                            5873133
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1192110652
<SHARES-COMMON-STOCK>                          4074516
<SHARES-COMMON-PRIOR>                          3107032
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                        (517652)
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<OVERDISTRIBUTION-GAINS>                   (277855059)
<ACCUM-APPREC-OR-DEPREC>                     (1643611)
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<DIVIDEND-INCOME>                                31969
<INTEREST-INCOME>                             45740172
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 5513345
<NET-INVESTMENT-INCOME>                       40258796
<REALIZED-GAINS-CURRENT>                     (6202589)
<APPREC-INCREASE-CURRENT>                    (8733039)
<NET-CHANGE-FROM-OPS>                         25323168
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (753443)
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                        2482644
<NUMBER-OF-SHARES-REDEEMED>                  (1603963)
<SHARES-REINVESTED>                              88803
<NET-CHANGE-IN-ASSETS>                       (7693867)
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<OVERDIST-NET-GAINS-PRIOR>                 (271652470)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                5633678
<AVERAGE-NET-ASSETS>                         892817260
<PER-SHARE-NAV-BEGIN>                             5.25
<PER-SHARE-NII>                                   0.22
<PER-SHARE-GAIN-APPREC>                         (0.09)
<PER-SHARE-DIVIDEND>                            (0.21)
<PER-SHARE-DISTRIBUTIONS>                            0
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<EXPENSE-RATIO>                                   1.73
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<AVG-DEBT-PER-SHARE>                              0.00
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000225604
<NAME> MFS SERIES TRUST III
<SERIES>
   <NUMBER> 021
   <NAME> MFS MUNICIPAL HIGH INCOME FUND-CLASS A
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JAN-31-1997
<PERIOD-START>                              FEB-1-1996
<PERIOD-END>                               JUL-31-1996
<INVESTMENTS-AT-COST>                        974266279
<INVESTMENTS-AT-VALUE>                      1011611013
<RECEIVABLES>                                 15952852
<ASSETS-OTHER>                                   11650
<OTHER-ITEMS-ASSETS>                             21749
<TOTAL-ASSETS>                              1027597264
<PAYABLE-FOR-SECURITIES>                       3022313
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      4591573
<TOTAL-LIABILITIES>                            7613886
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1102678354
<SHARES-COMMON-STOCK>                        107866040
<SHARES-COMMON-PRIOR>                        110653810
<ACCUMULATED-NII-CURRENT>                      4773712
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                   (124813422)
<ACCUM-APPREC-OR-DEPREC>                      37344734
<NET-ASSETS>                                1019983378
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             41522705
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 5182317
<NET-INVESTMENT-INCOME>                       36340388
<REALIZED-GAINS-CURRENT>                    (15936531)
<APPREC-INCREASE-CURRENT>                   (30953467)
<NET-CHANGE-FROM-OPS>                       (10549610)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                   (32348276)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        4135195
<NUMBER-OF-SHARES-REDEEMED>                  (8272390)
<SHARES-REINVESTED>                            1349195
<NET-CHANGE-IN-ASSETS>                      (66855653)
<ACCUMULATED-NII-PRIOR>                        3005866
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                 (108876891)
<GROSS-ADVISORY-FEES>                          3531559
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                5227317
<AVERAGE-NET-ASSETS>                        1045494569
<PER-SHARE-NAV-BEGIN>                             9.12
<PER-SHARE-NII>                                   0.31
<PER-SHARE-GAIN-APPREC>                         (0.40)
<PER-SHARE-DIVIDEND>                            (0.29)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.74
<EXPENSE-RATIO>                                   0.93
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                              0.00
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000225604
<NAME> MFS SERIES TRUST III
<SERIES>
   <NUMBER> 022
   <NAME> MFS MUNICIPAL HIGH INCOME FUND-CLASS B
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JAN-31-1997
<PERIOD-START>                              FEB-1-1996
<PERIOD-END>                               JUL-31-1996
<INVESTMENTS-AT-COST>                        974266279
<INVESTMENTS-AT-VALUE>                      1011611013
<RECEIVABLES>                                 15952852
<ASSETS-OTHER>                                   11650
<OTHER-ITEMS-ASSETS>                             21749
<TOTAL-ASSETS>                              1027597264
<PAYABLE-FOR-SECURITIES>                       3022313
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      4591573
<TOTAL-LIABILITIES>                            7613886
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1102678354
<SHARES-COMMON-STOCK>                          8794812
<SHARES-COMMON-PRIOR>                          8531656
<ACCUMULATED-NII-CURRENT>                      4773712
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                   (124813422)
<ACCUM-APPREC-OR-DEPREC>                      37344734
<NET-ASSETS>                                1019983378
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             41522705
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 5182317
<NET-INVESTMENT-INCOME>                       36340388
<REALIZED-GAINS-CURRENT>                    (15936531)
<APPREC-INCREASE-CURRENT>                   (30953467)
<NET-CHANGE-FROM-OPS>                       (10549610)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (2224265)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         702491
<NUMBER-OF-SHARES-REDEEMED>                   (538899)
<SHARES-REINVESTED>                              99564
<NET-CHANGE-IN-ASSETS>                      (66855653)
<ACCUMULATED-NII-PRIOR>                        3005866
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                 (108876891)
<GROSS-ADVISORY-FEES>                          3531559
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                5227317
<AVERAGE-NET-ASSETS>                        1045494569
<PER-SHARE-NAV-BEGIN>                             9.12
<PER-SHARE-NII>                                   0.27
<PER-SHARE-GAIN-APPREC>                         (0.40)
<PER-SHARE-DIVIDEND>                            (0.25)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.74
<EXPENSE-RATIO>                                   1.86
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                              0.00
        


</TABLE>


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