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MFS(R) HIGH INCOME FUND
Supplement to the Current Statement of Additional Information
The section entitled "Investment Techniques, Practices and Risks" of
MFS High Income Fund's Statement of Additional Information dated June 1, 1999 is
amended and restated in its entirety as follows:
The investment objective and principal investment policies of
the Fund are described in the Prospectus. In pursuing its investment
objective and principal investment policies, the Fund may engage in a
number of investment techniques and practices, which involve certain
risks. These investment techniques and practices, which may be changed
without shareholder approval unless indicated otherwise, are identified
in Appendix A to the Prospectus, and are more fully described, together
with their associated risks, in Part II of this SAI. The following
percentage limitations apply to these investment techniques and
practices.
Foreign Securities Exposure may not exceed 50% of the Fund's net assets.
Emerging Markets Exposure may not exceed 50% of the Fund's net assets.
o The Fund may invest up to 100% of net assets in Lower Rated Bonds.
o Lending of Portfolio Securities may not exceed 30% of the Fund's net
assets.
The date of this Supplement is August 25, 1999.
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MFS(R) HIGH INCOME FUND
Supplement to the Current Prospectus
The third paragraph under the section entitled "Risk Return Summary -
Principal Investment Policies" on page 1 of MFS High Income Fund's Prospectus
dated June 1, 1999 is amended and restated in its entirety as follows:
While the fund focuses its investments on bonds issued by
corporations or other similar entities, it may invest in all types of
debt securities. The fund may invest in foreign securities (including
emerging market securities) through which it may have exposure to
foreign currencies.
The section entitled "Risk Return Summary - Principal Risks of an
Investment" on page 3 is amended by adding the following paragraph after the
sub-section entitled "Foreign Securities:"
o Emerging Markets Risks: Emerging markets are generally defined
as countries in the initial stages of their industrialization
cycles with low per capita income. Investments in emerging
markets securities involve all of the risks of investments in
foreign securities, and also have additional risks:
All of the risks of investing in foreign securities are heightened by
investing in emerging markets countries.
The markets of emerging markets countries have been more volatile than
the markets of developed countries with more mature economies. These markets
often have provided significantly higher or lower rates of return than developed
markets, and significantly greater risks, to investors.
The date of this Supplement is August 25, 1999.
