MFS OTC FUND
SUPPLEMENT TO THE CURRENT PROSPECTUS
The paragraph under the heading entitled, "Distributions" on page 22 of
the Prospectus is hereby replaced in its entirety by the following:
The Fund intends to pay substantially all of its net investment income for
any calendar year to its shareholders as dividends on an annual basis. In
determining the net investment income available for distributions, the Fund may
rely on projections of its anticipated net investment income over a longer term,
rather than its actual net investment income for the period. The Fund may make
one or more distributions during the calendar year to its shareholders from any
long-term capital gains, and may also make one or more distributions during the
calendar year to its shareholders from short-term capital gains. Shareholders
may elect to receive dividends and capital gain distributions in either cash or
additional shares of the same class with respect to which a distribution is
made. Distribution paid by the Fund with respect to Class A shares will
generally be greater than those paid with respect to Class B and Class C shares
because expenses attributable to Class B and Class C shares will generally be
higher.
THE DATE OF THIS SUPPLEMENT IS JUNE 22, 1995.
