<PAGE>
MFS(R) MUNICIPAL BOND FUND
MFS(R) MUNICIPAL INCOME FUND
MFS(R) MUNICIPAL LIMITED MATURITY FUND
Supplement to Each Current Prospectus
The description of portfolio managers under the "Management of the Fund" section
of each prospectus is hereby restated as follows:
Effective March 23, 2000, Geoffrey L. Schechter and Michael L. Dawson are the
portfolio managers for the above referenced Funds. Mr. Schechter, a Vice
President of the Adviser, has been a portfolio manager of the MFS Municipal Bond
Fund since March, 1998, the MFS Municipal Limited Maturity Fund since January
14, 2000 and MFS Municipal Income Fund since March 23, 2000. Mr. Schechter has
been employed in the investment management area of the Adviser since June, 1993.
Mr. Dawson, a Vice President of the Adviser, became a portfolio manager of each
Fund referenced above on March 23, 2000. Mr. Dawson has been employed in the
investment management area of the Adviser since September, 1998. Mr. Dawson was
employed as a sales representative in the Institutional Sales Group at Fidelity
Capital Markets from March, 1997 to May, 1998. From January, 1993 to March,
1997, Goldman Sachs & Co. employed Mr. Dawson in the Institutional Sales - Fixed
Income Division.
The date of this Supplement is March 30, 2000.
