MFS SERIES TRUST III
497, 2000-07-31
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                      MFS(R) High Yield Opportunities Fund

          Supplement to the Current Statement of Additional Information


     The  percentage  limitations  listed in  Section  VII of the MFS High Yield
Opportunities  Fund's Statement of Additional  Information,  dated June 1, 2000,
entitled Investment  Techniques,  Practices,  Risks and Restrictions,  is hereby
amended and restated as follows:

     -    Foreign  Securities  Exposure  (including  Emerging  Markets)  may not
          exceed 50% of the Fund's net assets.

     -    The Fund may invest up to 100% of net assets in Lower Rated Bonds.

     -    Lending of Portfolio  Securities  may not exceed 30% of the Fund's net
          assets.

                  The date of this Supplement is July 28, 2000.



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