MFS SERIES TRUST III
NSAR-B, 1998-03-27
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<PAGE>      PAGE  1
000 B000000 01/31/98
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
008 A00AA01 MASSACHUSETTS FINANCIAL SERVICE COMPANY
008 B00AA01 A
008 C00AA01 801-17352
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02116
010 A00AA01 MASSACHUSETTS FINANCIAL SERVICES COMPANY
010 B00AA01 801-17352
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02116
011 A00AA01 MFS FUND DISTRIBUTORS, INC.
011 B00AA01 8-27864
011 C01AA01 BOSTON
011 C02AA01 MA
<PAGE>      PAGE  2
011 C03AA01 02116
012 A00AA01 MFS SERVICE CENTER, INC.
012 B00AA01 84-1316
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02116
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   55
019 C00AA00 MASSFINSER
020 A000001 BEAR STEARNS SECURITIES
020 B000001 00-0000000
020 C000001      9
020 A000002 MORGAN STANLEY
020 B000002 13-2655998
020 C000002      2
020 A000003 FURMAN,SELZ,MAGERDIETZ
020 B000003 00-0000000
020 C000003      1
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       12
022 A000001 GENERAL ELECTRIC CAP CORP.
022 B000001 00-0000000
022 C000001    656543
022 D000001      6146
022 A000002 CARROLL MC ENTEE
022 B000002 00-0000000
022 C000002    206054
022 D000002    205862
022 A000003 PAINE WEBBER INC.
022 B000003 13-2638166
022 C000003    192585
022 D000003    181566
022 A000004 MORGAN (J.P.) SECURITIES
022 B000004 13-3224016
022 C000004    196068
022 D000004    147464
022 A000005 MORGAN STANLEY
022 B000005 13-2655998
022 C000005    155379
022 D000005    153956
022 A000006 M L PIERCE FENNER SMITH
022 B000006 00-0000000
022 C000006    184265
022 D000006    112207
<PAGE>      PAGE  3
022 A000007 DLJ FIXED INCOME
022 B000007 00-0000000
022 C000007    125295
022 D000007    140685
022 A000008 GOLDMAN SACHS
022 B000008 13-5108880
022 C000008    196101
022 D000008     63944
022 A000009 PRUDENTIAL SECURITIES
022 B000009 22-2347336
022 C000009    176457
022 D000009     30366
022 A000010 SMITH BARNEY
022 B000010 13-1912900
022 C000010    110999
022 D000010     88744
023 C000000    4341437
023 D000000    2295616
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026 G020000 N
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054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
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054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
066 A00AA00 N
067  00AA00 N
068 A00AA00 N
068 B00AA00 N
069  00AA00 N
077 A000000 Y
077 B000000 Y
078  000000 N
<PAGE>      PAGE  4
080 A00AA00 NATIONAL UNION INSURANCE CO.
080 B00AA00 ICI MUTUAL
080 C00AA00    72950
081 A00AA00 Y
081 B00AA00 116
082 A00AA00 Y
082 B00AA00      100
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
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086 A020000      0
086 B010000      0
086 B020000      0
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086 C020000      0
086 D010000      0
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086 E020000      0
086 F010000      0
086 F020000      0
013 A000101 DELOITTE & TOUCHE LLP
013 B010101 BOSTON
013 B020101 MA
013 B030101 02110
015 A000101 STATE STREET BANK AND TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02110
015 E010101 X
015 A000102 CHASE MANHATTAN BANK, N.A.
015 B000102 S
015 C010102 NEW YORK
015 C020102 NY
015 C030102 10081
015 E040102 X
015 A000103 THE BANK OF NEW YORK
015 B000103 S
015 C010103 NEW YORK
015 C020103 NY
015 C030103 10286
015 E010103 X
024  000100 Y
025 A000101 MERRILL LYNCH MORTAGE INVESTORS, INC.
025 B000101 00-0000000
025 C000101 D
<PAGE>      PAGE  5
025 D000101    4485
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025 D000104       0
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025 D000107       0
025 D000108       0
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030 B000100  4.75
030 C000100  0.00
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033  000100      0
034  000100 Y
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036 A000100 N
036 B000100      0
037  000100 N
038  000100      0
<PAGE>      PAGE  6
039  000100 N
040  000100 Y
041  000100 Y
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042 D000100  51
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042 F000100   0
042 G000100   0
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048 J010100        0
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051  000100 N
052  000100 N
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053 B000100 N
053 C000100 Y
055 A000100 Y
055 B000100 N
056  000100 Y
057  000100 N
058 A000100 N
<PAGE>      PAGE  7
059  000100 Y
060 A000100 Y
060 B000100 Y
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062 A000100 Y
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062 K000100   0.0
062 L000100   2.1
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062 O000100   0.0
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062 Q000100   9.7
062 R000100   5.6
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063 B000100  8.4
064 A000100 N
064 B000100 Y
065  000100 N
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070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 Y
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
070 K020100 N
070 L010100 Y
070 L020100 Y
<PAGE>      PAGE  8
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
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070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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072 S000100        7
072 T000100     5882
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072 V000100        0
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072 Y000100      315
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073 A010100   0.4700
073 A020100   0.4300
<PAGE>      PAGE  9
073 B000100   0.0000
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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
015 B000202 S
015 C010202 NEW YORK
015 C020202 NY
015 C030202 10286
015 E010202 X
<PAGE>      PAGE  10
015 A000203 CHEMICAL BANK
015 B000203 S
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
025 D000201       0
025 D000202       0
025 D000203       0
025 D000204       0
025 D000205       0
025 D000206       0
025 D000207       0
025 D000208       0
028 A010200     41224
028 A020200      2521
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028 A040200     11876
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028 B020200      2348
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028 F020200      2321
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028 F040200     19755
<PAGE>      PAGE  11
028 G010200    192423
028 G020200     14215
028 G030200         0
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028 H000200    111129
029  000200 Y
030 A000200   6297
030 B000200  4.75
030 C000200  0.00
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032  000200   5253
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038  000200      0
039  000200 N
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<PAGE>      PAGE  12
048 H020200 0.000
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050  000200 Y
051  000200 N
052  000200 N
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053 B000200 N
053 C000200 Y
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
058 A000200 N
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061  000200     1000
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062 O000200  97.6
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063 A000200   0
063 B000200 20.8
064 A000200 Y
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065  000200 N
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070 B010200 N
070 B020200 N
070 C010200 Y
<PAGE>      PAGE  13
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
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070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
075 A000200        0
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SIGNATURE   ELLEN M. MOYNIHAN                            
TITLE       ASSISTANT TREASURER 
 


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<CIK> 0000225604
<NAME> MFS SERIES TRUST III
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   <NUMBER> 011
   <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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<INVESTMENTS-AT-COST>                       1155649524
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<SHARES-COMMON-STOCK>                         68598280                                
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<NUMBER-OF-SHARES-REDEEMED>                 (36845461)
<SHARES-REINVESTED>                            2517816
<NET-CHANGE-IN-ASSETS>                       210822977
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      2098105
<OVERDISTRIB-NII-PRIOR>                    (258150034)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          4780801
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               13454156
<AVERAGE-NET-ASSETS>                        1071883418
<PER-SHARE-NAV-BEGIN>                             5.35
<PER-SHARE-NII>                                   0.43
<PER-SHARE-GAIN-APPREC>                            .27
<PER-SHARE-DIVIDEND>                             (.43)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               5.62
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</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>                   YEAR
<FISCAL-YEAR-END>                          JAN-31-1998
<PERIOD-START>                             FEB-01-1997
<PERIOD-END>                               JAN-31-1998
<INVESTMENTS-AT-COST>                       1155649524
<INVESTMENTS-AT-VALUE>                      1196203993
<RECEIVABLES>                                 69716109
<ASSETS-OTHER>                                    8714
<OTHER-ITEMS-ASSETS>                            270574
<TOTAL-ASSETS>                              1266199390
<PAYABLE-FOR-SECURITIES>                      43774948
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      7304107
<TOTAL-LIABILITIES>                           51079055
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1406461599
<SHARES-COMMON-STOCK>                         10679900                                
<SHARES-COMMON-PRIOR>                          5265960                        
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                       (2800915)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                   (229189864)
<ACCUM-APPREC-OR-DEPREC>                      40649515
<NET-ASSETS>                                1215120335
<DIVIDEND-INCOME>                              2073899
<INTEREST-INCOME>                            100057256
<OTHER-INCOME>                                       0
<EXPENSES-NET>                              (13139543)
<NET-INVESTMENT-INCOME>                       88991612
<REALIZED-GAINS-CURRENT>                      39344739
<APPREC-INCREASE-CURRENT>                     15114461
<NET-CHANGE-FROM-OPS>                        143450812
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (3173754)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        6305530
<NUMBER-OF-SHARES-REDEEMED>                   (4499907) 
<SHARES-REINVESTED>                              308317
<NET-CHANGE-IN-ASSETS>                       210822977
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      2098105
<OVERDISTRIB-NII-PRIOR>                    (258150034)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          4780801
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               13454156
<AVERAGE-NET-ASSETS>                        1071883418
<PER-SHARE-NAV-BEGIN>                             5.36
<PER-SHARE-NII>                                   0.43
<PER-SHARE-GAIN-APPREC>                            .28
<PER-SHARE-DIVIDEND>                             (.43)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               5.64
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000225604
<NAME> MFS SERIES TRUST III
<SERIES>
   <NUMBER> 014
   <NAME> MFS HIGH INCOME FUND CLASS I
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          JAN-31-1998
<PERIOD-START>                             FEB-01-1997
<PERIOD-END>                               JAN-31-1998
<INVESTMENTS-AT-COST>                       1155649524
<INVESTMENTS-AT-VALUE>                      1196203993
<RECEIVABLES>                                 69716109
<ASSETS-OTHER>                                    8714
<OTHER-ITEMS-ASSETS>                            270574
<TOTAL-ASSETS>                              1266199390
<PAYABLE-FOR-SECURITIES>                      43774948
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      7304107
<TOTAL-LIABILITIES>                           51079055
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1406461599
<SHARES-COMMON-STOCK>                           642700                                
<SHARES-COMMON-PRIOR>                           572355                        
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                       (2800915)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                   (229189864)
<ACCUM-APPREC-OR-DEPREC>                      40649515
<NET-ASSETS>                                1215120335
<DIVIDEND-INCOME>                              2073899
<INTEREST-INCOME>                            100057256
<OTHER-INCOME>                                       0
<EXPENSES-NET>                              (13139543)
<NET-INVESTMENT-INCOME>                       88991612
<REALIZED-GAINS-CURRENT>                      39344739
<APPREC-INCREASE-CURRENT>                     15114461
<NET-CHANGE-FROM-OPS>                        143450812
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (296634)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          69923
<NUMBER-OF-SHARES-REDEEMED>                    (53972)
<SHARES-REINVESTED>                             54394
<NET-CHANGE-IN-ASSETS>                       210822977
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      2098105
<OVERDISTRIB-NII-PRIOR>                    (258150034)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          4780801
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               13454156
<AVERAGE-NET-ASSETS>                        1071883418
<PER-SHARE-NAV-BEGIN>                             5.35
<PER-SHARE-NII>                                   0.49
<PER-SHARE-GAIN-APPREC>                            .25
<PER-SHARE-DIVIDEND>                             (.48)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               5.61
<EXPENSE-RATIO>                                   0.71
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</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>                   YEAR
<FISCAL-YEAR-END>                          JAN-31-1998
<PERIOD-START>                             FEB-01-1997
<PERIOD-END>                               JAN-31-1998
<INVESTMENTS-AT-COST>                       1212725074
<INVESTMENTS-AT-VALUE>                      1354032629
<RECEIVABLES>                                 28436807
<ASSETS-OTHER>                                    9760
<OTHER-ITEMS-ASSETS>                            218186
<TOTAL-ASSETS>                              1382697382
<PAYABLE-FOR-SECURITIES>                       1222461
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      9719295
<TOTAL-LIABILITIES>                           10941756
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1404394453
<SHARES-COMMON-STOCK>                        122019211
<SHARES-COMMON-PRIOR>                        113148629
<ACCUMULATED-NII-CURRENT>                       534220
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                   (174480602)
<ACCUM-APPREC-OR-DEPREC>                     141307555
<NET-ASSETS>                                1371755626
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             89447132
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                12266674
<NET-INVESTMENT-INCOME>                       77180458
<REALIZED-GAINS-CURRENT>                    (43492930)
<APPREC-INCREASE-CURRENT>                     93915575
<NET-CHANGE-FROM-OPS>                        127603103
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                   (77497003)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       25471927
<NUMBER-OF-SHARES-REDEEMED>                 (19400212)
<SHARES-REINVESTED>                            2798867
<NET-CHANGE-IN-ASSETS>                       257607109
<ACCUMULATED-NII-PRIOR>                         618295
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                 (131758565)
<GROSS-ADVISORY-FEES>                          7934130
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               12266674
<AVERAGE-NET-ASSETS>                        1228534033
<PER-SHARE-NAV-BEGIN>                             8.73
<PER-SHARE-NII>                                   0.57
<PER-SHARE-GAIN-APPREC>                           0.34
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                       (0.57)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.07
<EXPENSE-RATIO>                                   0.89
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</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>                   YEAR
<FISCAL-YEAR-END>                          JAN-31-1998
<PERIOD-START>                             FEB-01-1997
<PERIOD-END>                               JAN-31-1998
<INVESTMENTS-AT-COST>                       1212725074
<INVESTMENTS-AT-VALUE>                      1354032629
<RECEIVABLES>                                 28436807
<ASSETS-OTHER>                                    9760
<OTHER-ITEMS-ASSETS>                            218186
<TOTAL-ASSETS>                              1382697382
<PAYABLE-FOR-SECURITIES>                       1222461
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      9719295
<TOTAL-LIABILITIES>                           10941756
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1404394453
<SHARES-COMMON-STOCK>                         29132515
<SHARES-COMMON-PRIOR>                         14411582
<ACCUMULATED-NII-CURRENT>                       534220
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                   (174480602)
<ACCUM-APPREC-OR-DEPREC>                     141307555
<NET-ASSETS>                                1371755626
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             89447132
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                12266674
<NET-INVESTMENT-INCOME>                       77180458
<REALIZED-GAINS-CURRENT>                    (43492930)
<APPREC-INCREASE-CURRENT>                     93915575
<NET-CHANGE-FROM-OPS>                        127603103
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                   (77497003)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       16825264
<NUMBER-OF-SHARES-REDEEMED>                  (2492160)
<SHARES-REINVESTED>                             387829
<NET-CHANGE-IN-ASSETS>                       257607109
<ACCUMULATED-NII-PRIOR>                         618295
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                 (131758565)
<GROSS-ADVISORY-FEES>                          7934130
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               12266674
<AVERAGE-NET-ASSETS>                        1228534033
<PER-SHARE-NAV-BEGIN>                             8.74
<PER-SHARE-NII>                                   0.49
<PER-SHARE-GAIN-APPREC>                           0.34
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                       (0.49)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.08
<EXPENSE-RATIO>                                   1.73
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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