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MFS(R) Value Fund
MFS(R) Georgia Municipal Bond Fund
MFS(R) Research Growth and Income Fund
MFS(R) Maryland Municipal Bond Fund
MFS/Foreign & Colonial Emerging Markets Equity Fund
MFS(R) Massachusetts Municipal Bond Fund
MFS/Foreign & Colonial International Growth Fund
MFS(R) Mississippi Municipal Bond Fund
MFS/Foreign & Colonial International Growth and Income Fund
MFS(R) New York Municipal Bond Fund
MFS(R) Municipal Bond Fund
MFS(R) North Carolina Municipal Bond Fund
MFS(R) Municipal Income Fund
MFS(R) Pennsylvania Municipal Bond Fund
MFS(R) Municipal Limited Maturity Fund
MFS(R) South Carolina Municipal Bond Fund
MFS(R) Municipal High Income Fund
MFS(R) Tennessee Municipal Bond Fund
MFS(R) Alabama Municipal Bond Fund
MFS(R) Virginia Municipal Bond Fund
MFS(R) Arkansas Municipal Bond Fund
MFS(R) West Virginia Municipal Bond Fund
MFS(R) California Municipal Bond Fund
MFS(R) Capital Growth Fund
MFS(R) Florida Municipal Bond Fund
Supplement to the Current Prospectus
On January 1, 1997, each Fund adopted a new market timing policy which permits
the Fund and MFD, the Fund's distributor, to reject or restrict any specific
purchase or exchange request, and impose specific limitations with respect to
market timers, as defined under the new policy. Pursuant to this new policy and
effective immediately, the Fund and/or MFD will reject all exchange requests
into the Fund during the remainder of calendar year 1997 if the individual or
entity making the exchange request is or has been determined by either the Fund
or MFD, in its sole discretion, to be a market timer in 1997. In the event that
the Fund or MFD rejects an exchange request, neither the redemption nor the
purchase side of the exchange will be processed.
Each Fund's market timing policy is set forth in its entirety as follows:
Right to Reject Purchase Orders/Market Timing: Purchases and exchanges should be
made for investment purposes only. The Fund and MFD each reserve the right to
reject or restrict any specific purchase or exchange request. In the event that
the Fund or MFD rejects an exchange request, neither the redemption nor the
purchase side of the exchange will be processed.
The Fund is not designed for professional market timing organizations or other
entities using programmed or frequent exchanges. The Fund defines a "market
timer" as an individual, or organization acting on behalf of one or more
individuals, if (i) the individual or organization makes three or more exchange
requests out of the Fund per calendar year and (ii) any one of such exchange
requests represents shares equal in value to 1/2 of 1% or more of the Fund's net
assets at the time of the request. Accounts under common ownership or control,
including accounts administered by market timers, will be aggregated for
purposes of this definition.
As noted above, the Fund and MFD each reserve the right to reject or restrict
any specific purchase and exchange request, and, in addition, may impose
specific limitations with respect to market timers, including delaying for up to
seven days the purchase side of an exchange request by market timers or
specifically rejecting or otherwise restricting purchase and exchange requests
by market timers. In the event that any individual or entity is determined
either by the Fund or MFD, in its sole discretion, to be a market timer with
respect to any calendar year, the Fund and/or MFD will reject all exchange
requests into the Fund during the remainder of that calendar year. Other funds
in the MFS Family of Funds may have different and/or more restrictive policies
with respect to market timers than the Fund. These policies are disclosed in the
prospectuses of these other MFS Funds.
The date of this Supplement is March 1, 1997.
