<PAGE>
Massachusetts Investors Trust
Massachusetts Investors Growth Stock Fund
MFS(R) Capital Growth Fund
MFS(R) Emerging Growth Fund
MFS(R) Gold & Natural Resources Fund
MFS(R) Growth Opportunities Fund
MFS(R) Managed Sectors Fund
MFS(R) OTC Fund
MFS(R) Research Fund
MFS(R) Value Fund
MFS(R) Total Return Fund
MFS(R) Utilities Fund
MFS(R) Bond Fund
MFS(R) Government Mortgage Fund
MFS(R) Government Securities Fund
MFS(R) High Income Fund
MFS(R) Intermediate Income Fund
MFS(R) Strategic Income Fund
MFS(R) Government Limited Maturity Fund
MFS(R) Limited Maturity Fund
MFS(R) World Equity Fund
MFS(R) World Governments Fund
MFS(R) World Growth Fund
MFS(R) World Total Return Fund
MFS(R) World Asset Allocation Fund
MFS(R) Cash Reserve Fund
MFS(R) Government Money Market Fund
MFS(R) Money Market Fund
Supplement to the Current Prospectus
Class A shares of the Fund may be purchased at net asset value by retirement
plans whose third party administrators have entered into an agreement with MFS
Fund Distributors, Inc. ("MFD") or one or more of its affiliates to perform
certain administrative services, subject to certain operational requirements
specified from time to time by MFD or its affiliates.
In lieu of the sales commission and service fees normally paid by MFD to
broker-dealers of record as described in the Prospectus, MFD has agreed to pay
Bear, Stearns & Co. Inc. the following amounts with respect to Class A shares of
the Fund purchased through a special retirement plan program offered by a third
party administrator: (i) an amount equal to 0.05% per annum of the average daily
net assets invested in shares of the Fund pursuant to such program, and (ii) an
amount equal to 0.20% of the net asset value of all net purchases of shares of
the Fund made through such program, subject to a refund in the event that such
shares are redeemed within 36 months.
The date of this Supplement is February 1, 1995.
<PAGE>
MFS(R) CASH RESERVE FUND
MASSACHUSETTS INVESTORS GROWTH STOCK FUND
MFS(R) TOTAL RETURN FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL GROWTH FUND
MFS(R) GROWTH OPPORTUNITIES FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL GROWTH AND INCOME FUND
MFS(R) EMERGING GROWTH FUND
MFS/FOREIGN & COLONIAL EMERGING MARKETS EQUITY FUND
MFS(R) CAPITAL GROWTH FUND
MFS(R) ALABAMA MUNICIPAL BOND FUND
MFS(R) INTERMEDIATE INCOME FUND
MFS(R) ARKANSAS MUNICIPAL BOND FUND
MFS(R) GOLD & NATURAL RESOURCES FUND
MFS(R) CALIFORNIA MUNICIPAL BOND FUND
MFS(R) MANAGED SECTORS FUND
MFS(R) FLORIDA MUNICIPAL BOND FUND
MFS(R) VALUE FUND
MFS(R) GEORGIA MUNICIPAL BOND FUND
MFS(R) UTILITIES FUND
MFS(R) MARYLAND MUNICIPAL BOND FUND
MFS(R) WORLD EQUITY FUND
MFS(R) MASSACHUSETTS MUNICIPAL BOND FUND
MFS(R) WORLD TOTAL RETURN FUND
MFS(R) MISSISSIPPI MUNICIPAL BOND FUND
MFS(R) BOND FUND
MFS(R) NEW YORK MUNICIPAL BOND FUND
MFS(R) LIMITED MATURITY FUND
MFS(R) NORTH CAROLINA MUNICIPAL BOND FUND
MFS(R) GOVERNMENT MORTGAGE FUND
MFS(R) PENNSYLVANIA MUNICIPAL BOND FUND
MFS(R) GOVERNMENT LIMITED MATURITY FUND
MFS(R) SOUTH CAROLINA MUNICIPAL BOND FUND
MFS(R) GOVERNMENT SECURITIES FUND
MFS(R) TENNESSEE MUNICIPAL BOND FUND
MFS(R) HIGH INCOME FUND
MFS(R) VIRGINIA MUNICIPAL BOND FUND
MFS(R) STRATEGIC INCOME FUND
MFS(R) WEST VIRGINIA MUNICIPAL BOND FUND
MFS(R) WORLD GOVERNMENTS FUND
MFS(R) MUNICIPAL LIMITED MATURITY FUND
MFS(R) WORLD GROWTH FUND
MFS(R) MUNICIPAL BOND FUND
MFS(R) OTC FUND
MFS(R) MUNICIPAL INCOME FUND
MFS(R) MUNICIPAL HIGH INCOME FUND
MFS(R) RESEARCH FUND
MFS(R) GOVERNMENT MONEY MARKET FUND
MFS(R) WORLD ASSET ALLOCATION FUND
MASSACHUSETTS INVESTORS TRUST
MFS(R) MONEY MARKET FUND
MFS(R) RESEARCH GROWTH AND INCOME FUND
Supplement to the Current Prospectus
The following information supplements the disclosure found under the
caption "Information Concerning Shares of the Fund - Purchases" in the
Prospectus:
MFS Fund Distributors, Inc. ("MFD"), the distributor of each of the
above-named funds (the "Funds"), has entered into a long-term exclusive
marketing agreement with IBAA Financial Services Corporation ("IBFS"),
pursuant to which MFD has agreed to pay IBFS, as additional
compensation for IBFS' marketing and distribution of the Funds, an
annual amount (subject to a minimum) based upon the value of shares of
the Funds for which IBFS acts as broker-dealer of record plus the value
of shares of the Funds sold by IBFS during such year.
The date of this Supplement is February 1, 1997.
<PAGE>
MFS(R) CASH RESERVE FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL GROWTH AND INCOME FUND
MFS(R) TOTAL RETURN FUND
MASSACHUSETTS INVESTORS GROWTH STOCK FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL GROWTH FUND
MFS(R) GROWTH OPPORTUNITIES FUND
MFS(R) EMERGING GROWTH FUND
MFS(R) ALABAMA MUNICIPAL BOND FUND
MFS(R) CAPITAL GROWTH FUND
MFS(R) ARKANSAS MUNICIPAL BOND FUND
MFS(R) INTERMEDIATE INCOME FUND
MFS(R) CALIFORNIA MUNICIPAL BOND FUND
MASSACHUSETTS INVESTORS TRUST
MFS(R) FLORIDA MUNICIPAL BOND FUND
MFS(R) MANAGED SECTORS FUND
MFS(R) GEORGIA MUNICIPAL BOND FUND
MFS(R) VALUE FUND
MFS(R) MARYLAND MUNICIPAL BOND FUND
MFS(R) UTILITIES FUND
MFS(R) MASSACHUSETTS MUNICIPAL BOND FUND
MFS(R) WORLD EQUITY FUND
MFS(R) MISSISSIPPI MUNICIPAL BOND FUND
MFS(R) WORLD TOTAL RETURN FUND
MFS(R) NEW YORK MUNICIPAL BOND FUND
MFS(R) BOND FUND
MFS(R) NORTH CAROLINA MUNICIPAL BOND FUND
MFS(R) LIMITED MATURITY FUND
MFS(R) PENNSYLVANIA MUNICIPAL BOND FUND
MFS(R) GOVERNMENT MORTGAGE FUND
MFS(R) SOUTH CAROLINA MUNICIPAL BOND FUND
MFS(R) GOVERNMENT LIMITED MATURITY FUND
MFS(R) TENNESSEE MUNICIPAL BOND FUND
MFS(R) GOVERNMENT SECURITIES FUND
MFS(R) VIRGINIA MUNICIPAL BOND FUND
MFS(R) HIGH INCOME FUND
MFS(R) WEST VIRGINIA MUNICIPAL BOND FUND
MFS(R) STRATEGIC INCOME FUND
MFS(R) MUNICIPAL LIMITED MATURITY FUND
MFS(R) WORLD GOVERNMENTS FUND
MFS(R) MUNICIPAL BOND FUND
MFS(R) WORLD GROWTH FUND
MFS(R) MUNICIPAL INCOME FUND
MFS(R) OTC FUND
MFS(R) RESEARCH FUND
MFS/FOREIGN & COLONIAL EMERGING MARKETS EQUITY FUND
MFS(R) WORLD ASSET ALLOCATION FUND
MFS(R) MONEY MARKET FUND
MFS(R) MUNICIPAL HIGH INCOME FUND
MFS(R) GOVERNMENT MONEY MARKET FUND
MFS(R) RESEARCH GROWTH AND INCOME FUND
MFS(R) STRATEGIC GROWTH FUND
Supplement to the Current Prospectus
The following provisions shall apply to any retirement plan (each a "Merrill
Lynch Daily K Plan") whose records are maintained on a daily valuation basis by
either Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch"), or
by an independent recordkeeper (an "Independent Recordkeeper") whose services
are provided through a contract or alliance arrangement with Merrill Lynch, and
with respect to which the sponsor of such plan has entered into a recordkeeping
service agreement with Merrill Lynch (a "Merrill Lynch Recordkeeping
Agreement").
The initial sales charge imposed on purchases of Class A shares of the Funds,
and the contingent deferred sales charge ("CDSC") imposed on certain redemptions
of Class A shares of the Funds, is waived in the following circumstances with
respect to a Merrill Lynch Daily K Plan:
(i) if, on the date the Plan sponsor signs the Merrill
Lynch Recordkeeping Agreement, such Plan has $3
million or more in assets invested in broker-dealer
sold funds not advised or managed by Merrill Lynch
Asset Management L.P. ("MLAM") that are made
available pursuant to agreements between Merrill
Lynch and such funds' principal underwriters or
distributors, and in funds advised or managed by
MLAM (collectively, the "Applicable Investments");
or
(ii) if such Plan's records are maintained by an Independent
Recordkeeper and, on the date the Plan sponsor signs the
Merrill Lynch Recordkeeping Agreement, such Plan has $3
million or more in assets, excluding money market funds,
invested in Applicable Investments; or
(iii) such Plan has 500 or more eligible employees, as determined by
the Merrill Lynch plan conversion manager on the date the Plan
sponsor signs the Merrill Lynch Recordkeeping Agreement.
<PAGE>
The CDSC imposed on redemptions of Class B shares of the Fund is waived
in the following circumstances with respect to a Merrill Lynch Daily K
Plan:
(i) if, on the date the Plan sponsor signs the Merrill Lynch
Recordkeeping Agreement, such Plan has less than $3 million in
assets invested in Applicable
Investments;
(ii) if such Plan's records are maintained by an independent
recordkeeper and, on the date the Plan sponsor signs the
Merrill Lynch Recordkeeping Agreement, such Plan has less than
$3 million dollars in assets, excluding money market funds,
invested in Applicable Investments; or
(iii) such Plan has fewer than 500 eligible employees, as determined
by the Merrill Lynch plan conversion manager on the date the
Plan sponsor signs the Merrill Lynch Recordkeeping Agreement.
No front-end commissions are paid with respect to any Class A or Class B shares
of the Fund purchased by any Merrill Lynch Daily K Plan.
The date of this Supplement is June 5, 1997.
<PAGE>
MFS CASH RESERVE FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL GROWTH AND INCOME FUND
MFS TOTAL RETURN FUND
MASSACHUSETTS INVESTORS GROWTH STOCK FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL GROWTH FUND
MFS GROWTH OPPORTUNITIES FUND
MFS EMERGING GROWTH FUND
MFS ALABAMA MUNICIPAL BOND FUND
MFS CAPITAL GROWTH FUND
MFS ARKANSAS MUNICIPAL BOND FUND
MFS INTERMEDIATE INCOME FUND
MFS CALIFORNIA MUNICIPAL BOND FUND
MASSACHUSETTS INVESTORS TRUST
MFS FLORIDA MUNICIPAL BOND FUND
MFS MANAGED SECTORS FUND
MFS GEORGIA MUNICIPAL BOND FUND
MFS VALUE FUND
MFS MARYLAND MUNICIPAL BOND FUND
MFS UTILITIES FUND
MFS MASSACHUSETTS MUNICIPAL BOND FUND
MFS WORLD EQUITY FUND
MFS MISSISSIPPI MUNICIPAL BOND FUND
MFS WORLD TOTAL RETURN FUND
MFS NEW YORK MUNICIPAL BOND FUND
MFS BOND FUND
MFS NORTH CAROLINA MUNICIPAL BOND FUND
MFS LIMITED MATURITY FUND
MFS PENNSYLVANIA MUNICIPAL BOND FUND
MFS GOVERNMENT MORTGAGE FUND
MFS SOUTH CAROLINA MUNICIPAL BOND FUND
MFS GOVERNMENT LIMITED MATURITY FUND
MFS TENNESSEE MUNICIPAL BOND FUND
MFS GOVERNMENT SECURITIES FUND
MFS VIRGINIA MUNICIPAL BOND FUND
MFS HIGH INCOME FUND
MFS WEST VIRGINIA MUNICIPAL BOND FUND
MFS STRATEGIC INCOME FUND
MFS MUNICIPAL LIMITED MATURITY FUND
MFS WORLD GOVERNMENTS FUND
MFS MUNICIPAL BOND FUND
MFS WORLD GROWTH FUND
MFS MUNICIPAL INCOME FUND
MFS OTC FUND
MFS RESEARCH FUND
MFS/FOREIGN & COLONIAL EMERGING MARKETS EQUITY FUND
MFS WORLD ASSET ALLOCATION FUND
MFS MONEY MARKET FUND
MFS MUNICIPAL HIGH INCOME FUND
MFS GOVERNMENT MONEY MARKET FUND
MFS RESEARCH GROWTH AND INCOME FUND
MFS STRATEGIC GROWTH FUND
SUPPLEMENT TO THE CURRENT PROSPECTUS
This supplement describes certain changes, effective immediately, to each Fund's
Prospectus.
1. DEFINITION OF "DEALER". As used in the Prospectus and any appendices thereto,
the term "dealer" includes any broker, dealer, bank (including bank trust
departments), registered investment adviser, financial planner and any other
financial institutions having a selling agreement or other similar agreement
with MFS Fund Distributors, Inc. ("MFD").
2. NEW CLASS A NET ASSET VALUE CATEGORY FOR CERTAIN RETIREMENT PLANS. In
addition to the four circumstances described under the caption "Purchases
Subject to a CDSC (but not an initial sales charge)" in the "Purchases - Class A
Shares" section of the Prospectus, Class A shares are offered at net asset value
without an initial sales charge but subject to a CDSC (equal to 1% of the lesser
of the value of the shares redeemed (exclusive of reinvested dividend and
capital gain distributions) or the total cost of such shares, in the event of a
share redemption within 12 months following the purchase) on investments in
Class A shares by certain retirement plans subject to the Employee Retirement
Income Security Act of 1974, as amended, if: (a) the plan establishes an account
with the Shareholder Servicing Agent on or after July 1, 1997; (b) such plan's
records are maintained on a pooled basis by the Shareholder Servicing Agent; and
(c) the sponsoring organization demonstrates to the satisfaction of MFD that, at
the time of purchase, the employer has at least 200 eligible employees and the
plan has aggregate assets of at least $2,000,000.
<PAGE>
3. CHANGES TO SALES CHARGE WAIVER CATEGORIES. Appendix A to
the Prospectus, which describes waivers of sales charges, is amended
as follows:
Loan Payments. A new waiver category is added under
"I. Waivers of All Applicable Sales Charges" as follows:
7. Loan Repayments
Shares acquired pursuant to repayments by
retirement plan participants of loans from 401(a)
or ESP Plans with respect to which such Plan or
its sponsoring organization subscribes to the MFS
FUNDamental 401(k) Program or the MFS
Recordkeeper Plus Program (but not the MFS
Recordkeeper Program).
In a conforming change, the waiver category for loans from a
401(a) or ESP Plan under "5. Retirement Plans (CDSC waiver only) -
Section 401(a) Plans ("401 (a) Plans") and Section 403 (b)
Employee Sponsored Plans
("ESP Plans")" is deleted.
Wrap Account Investments. The waiver category entitled
"2. Wrap Account Investments" under "II. Waivers of
Class A Sales Charges" is amended to read in its
entirety as follows:
Shares acquired by investments through certain
dealers (including registered investment advisers and
financial planners) which have established certain
operational arrangements with MFD which include a
requirement that such shares be sold for the sole benefit
of clients participating in a "wrap" account, mutual fund
marketplace account or a similar program under which such
clients pay a fee to such dealer.
Administrative Services Agreements. The waiver category entitled
"Administrative Services Arrangements" under the heading "4.
Retirement Plans" under "II. Waivers of Class A Sales Charges" is
amended to read in its entirety as follows:
Shares acquired by retirement plans or trust
accounts whose third party administrators or dealers have
entered into an administrative services agreement with MFD
or one of its affiliates to perform certain administrative
services, subject to certain operational and minimum size
requirements specified from time to time by MFD or one or
more of its affiliates.
Systematic Withdrawal Plan. The waiver category
entitled "1. Systematic Withdrawal Plan" under the
heading "III. Waivers of Class B and Class C Sales
Charges" is amended to read as follows:
Systematic Withdrawal Plan redemptions with respect to up
to 10% per year (or 15% per year, in the case of accounts
registered as IRAs where the redemption is made pursuant
to Section 72(t) of the Internal Revenue Code of 1986, as
amended) of the account value at the time of
establishment.
Investment of Redemption Proceeds from Unaffiliated Mutual Funds.
The waiver category entitled "1. Investment of Redemption Proceeds
from Unaffiliated Mutual Funds" under the heading "II. Waivers of
Class A Sales Charges" is deleted in its entirety.
The date of this Supplement is July 1, 1997.
<PAGE>
MFS CASH RESERVE FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL GROWTH AND INCOME FUND
MFS TOTAL RETURN FUND
MASSACHUSETTS INVESTORS GROWTH STOCK FUND
MFS/FOREIGN & COLONIAL INTERNATIONAL GROWTH FUND
MFS GROWTH OPPORTUNITIES FUND
MFS EMERGING GROWTH FUND
MFS ALABAMA MUNICIPAL BOND FUND
MFS CAPITAL GROWTH FUND
MFS ARKANSAS MUNICIPAL BOND FUND
MFS INTERMEDIATE INCOME FUND
MFS CALIFORNIA MUNICIPAL BOND FUND
MASSACHUSETTS INVESTORS TRUST
MFS FLORIDA MUNICIPAL BOND FUND
MFS MANAGED SECTORS FUND
MFS GEORGIA MUNICIPAL BOND FUND
MFS VALUE FUND
MFS MARYLAND MUNICIPAL BOND FUND
MFS UTILITIES FUND
MFS MASSACHUSETTS MUNICIPAL BOND FUND
MFS WORLD EQUITY FUND
MFS MISSISSIPPI MUNICIPAL BOND FUND
MFS WORLD TOTAL RETURN FUND
MFS NEW YORK MUNICIPAL BOND FUND
MFS BOND FUND
MFS NORTH CAROLINA MUNICIPAL BOND FUND
MFS LIMITED MATURITY FUND
MFS PENNSYLVANIA MUNICIPAL BOND FUND
MFS GOVERNMENT MORTGAGE FUND
MFS SOUTH CAROLINA MUNICIPAL BOND FUND
MFS GOVERNMENT LIMITED MATURITY FUND
MFS TENNESSEE MUNICIPAL BOND FUND
MFS GOVERNMENT SECURITIES FUND
MFS VIRGINIA MUNICIPAL BOND FUND
MFS HIGH INCOME FUND
MFS WEST VIRGINIA MUNICIPAL BOND FUND
MFS STRATEGIC INCOME FUND
MFS MUNICIPAL LIMITED MATURITY FUND
MFS WORLD GOVERNMENTS FUND
MFS MUNICIPAL BOND FUND
MFS WORLD GROWTH FUND
MFS MUNICIPAL INCOME FUND
MFS OTC FUND
MFS RESEARCH FUND
MFS/FOREIGN & COLONIAL EMERGING MARKETS EQUITY FUND
MFS WORLD ASSET ALLOCATION FUND
MFS MONEY MARKET FUND
MFS MUNICIPAL HIGH INCOME FUND
MFS GOVERNMENT MONEY MARKET FUND
MFS RESEARCH GROWTH AND INCOME FUND
MFS STRATEGIC GROWTH FUND
SUPPLEMENT TO THE CURRENT PROSPECTUS
This supplement describes certain changes, effective immediately, to each Fund's
Prospectus.
1. DEFINITION OF "DEALER". As used in the Prospectus and any appendices thereto,
the term "dealer" includes any broker, dealer, bank (including bank trust
departments), registered investment adviser, financial planner and any other
financial institutions having a selling agreement or other similar agreement
with MFS Fund Distributors, Inc. ("MFD"). The use of the defined term "dealer"
does not mean or imply that any such financial intermediary necessarily is a
"dealer" for purposes of any federal or state laws, rules or regulations or any
self-regulatory organization's rules.
2. CHANGES TO SALES CHARGE WAIVER CATEGORIES. Appendix A to the Prospectus,
which describes waivers of sales charges, is amended as follows:
Wrap Account and Fund "Supermarket" Investments. The waiver
category entitled "2. Wrap Account Investments" under "II. Waivers
of Class A Sales Charges" is amended to read in its entirety as
follows:
2. Wrap Account and Fund "Supermarket" Investments Shares
acquired by investments through certain dealers (including
registered investment advisers and financial planners)
which have established certain operational arrangements
with MFD which include a requirement that such shares be
sold for the sole benefit of clients participating in a
"wrap" account, mutual fund "supermarket" account or a
similar program under which such clients pay a fee to such
dealer.
The date of this Supplement is August 8, 1997.
<PAGE>
MFS(R) Managed Sectors Fund
MFS(R) World Growth Fund
MFS(R) Cash Reserve Fund
MFS(R) Bond Fund
MFS(R) World Asset Allocation Fund
MFS(R) Limited Maturity Fund
MFS(R) Core Growth Fund
MFS(R) Municipal Limited Maturity Fund
MFS(R) Special Opportunities Fund
MFS(R) Government Mortgage Fund
MFS(R) Convertible Securities Fund
MFS(R) International Growth Fund
MFS(R) Blue Chip Fund
MFS(R) International Growth and Income Fund
MFS(R) Science and Technology Fund
MFS/Foreign & Colonial Emerging Markets Equity Fund
MFS(R) New Discovery Fund
MFS(R) Alabama Municipal Bond Fund
MFS(R)Research Growth and Income Fund
MFS(R) Arkansas Municipal Bond Fund
MFS(R) Equity Income Fund
MFS(R) California Municipal Bond Fund
MFS(R) Research International Fund
MFS(R) Florida Municipal Bond Fund
MFS(R) Strategic Growth Fund
MFS(R) Georgia Municipal Bond Fund
MFS(R) Emerging Growth Fund
MFS(R) Maryland Municipal Bond Fund
MFS(R) Large Cap Growth Fund
MFS(R) Massachusetts Municipal Bond Fund
MFS(R) Intermediate Income Fund
MFS(R) Mississippi Municipal Bond Fund
MFS(R) High Income Fund
MFS(R) New York Municipal Bond Fund
MFS(R) Municipal High Income Fund
MFS(R) North Carolina Municipal Bond Fund
MFS(R) Money Market Fund
MFS(R) Pennsylvania Municipal Bond Fund
MFS(R) Government Money Market Fund
MFS(R) South Carolina Municipal Bond Fund
MFS(R) Municipal Bond Fund
MFS(R) Tennessee Municipal Bond Fund
MFS(R) Mid Cap Growth Fund
MFS(R) Virginia Municipal Bond Fund
MFS(R) Total Return Fund
MFS(R) West Virginia Municipal Bond Fund
MFS(R) Research Fund
MFS(R) Municipal Income Fund
MFS(R) World Total Return Fund
MFS(R) Union Standard Equity Fund
MFS(R) Utilities Fund
MFS(R) Growth Opportunities Fund
MFS(R) World Equity Fund
MFS(R) Government Securities Fund
MFS(R) World Governments Fund
Massachusetts Investors Growth Stock Fund
MFS(R) Value Fund
MFS(R) Government Limited Maturity Fund
MFS(R) Strategic Income Fund
Massachusetts Investors Trust
Supplement to the Current Prospectus
Until terminated by MFS Fund Distributors, Inc. ("MFD"), the Funds' distributor,
MFD will incur, on behalf of Royal Alliance Associates, Inc., up to $15 toward
the ticket charge with respect to purchases of shares of any MFS Fund made
through the GOLD Select Program. MFD will not incur such charge with respect to
redemptions or repurchases of Fund shares, exchanges of Fund shares, or shares
purchased or redeemed through systematic investment or withdrawal plans.
The date of this Supplement is October 1, 1997.
<PAGE>
MFS(R) Managed Sectors Fund
MFS(R) Municipal Limited Maturity Fund
MFS(R) Cash Reserve Fund
MFS(R) Government Mortgage Fund
MFS(R) World Asset Allocation Fund
MFS(R) Alabama Municipal Bond Fund
MFS(R) New Discovery Fund
MFS(R) Arkansas Municipal Bond Fund
MFS(R) Research Growth and Income Fund
MFS(R) California Municipal Bond Fund
MFS(R) Equity Income Fund
MFS(R) Florida Municipal Bond Fund
MFS(R) Strategic Growth Fund
MFS(R) Georgia Municipal Bond Fund
MFS(R) Emerging Growth Fund
MFS(R) Maryland Municipal Bond Fund
MFS(R) Large Cap Growth Fund
MFS(R) Massachusetts Municipal Bond Fund
MFS(R) Intermediate Income Fund
MFS(R) Mississippi Municipal Bond Fund
MFS(R) High Income Fund
MFS(R) New York Municipal Bond Fund
MFS(R) Municipal High Income Fund
MFS(R) North Carolina Municipal Bond Fund
MFS(R) Municipal Bond Fund
MFS(R) Pennsylvania Municipal Bond Fund
MFS(R) Mid Cap Growth Fund
MFS(R) South Carolina Municipal Bond Fund
MFS(R) Total Return Fund
MFS(R) Tennessee Municipal Bond Fund
MFS(R) Research Fund
MFS(R) Virginia Municipal Bond Fund
MFS(R) World Total Return Fund
MFS(R) West Virginia Municipal Bond Fund
MFS(R) Utilities Fund
MFS(R) Municipal Income Fund
MFS(R) World Equity Fund
MFS(R) Union Standard Equity Fund
MFS(R) World Governments Fund
MFS(R) Growth Opportunities Fund
MFS(R) Value Fund
MFS(R) Government Securities Fund
MFS(R) Strategic Income Fund
Massachusetts Investors Growth Stock Fund
MFS(R) World Growth Fund
MFS(R) Government Limited Maturity Fund
MFS(R) Bond Fund
Massachusetts Investors Trust
MFS(R) Limited Maturity Fund
Supplement to the Current Prospectus
This supplement describes certain changes, effective November 1, 1997,
to each Fund's Prospectus.
1. For all Funds listed above except Massachusetts Investors Trust,
Massachusetts Investors Growth Stock Fund, MFS Municipal Bond Fund, MFS
Municipal Limited Maturity Fund and MFS Cash Reserve Fund, Appendix A to the
Prospectus, which describes waivers of sales charges, is amended to add a new
waiver category under "II.
WAIVERS OF CLASS A SALES CHARGES" as follows:
5. Purchases of at Least $5 Million
(CDSC waiver only)
o Shares acquired of Eligible Funds (as
defined below) if the shareholder's investment equals or
exceeds $5 million in one or more Eligible Funds (the
"Initial Purchase") (this waiver applies to the shares
acquired from the Initial Purchase and all shares of
Eligible Funds subsequently acquired by the shareholder);
provided that the dealer through which the Initial Purchase
is made enters into an agreement with MFD to accept delayed
payment of commissions with respect to the Initial Purchase
and all subsequent investments by the shareholder in the
Eligible Funds subject to such requirements as may be
established from time to time by MFD (for a schedule of the
amount of commissions paid by MFD to the dealer on such
investments, see "Purchases - Class A Shares - Purchases
subject to a CDSC" in the Prospectus). The Eligible Funds
are all funds included in the MFS Family of Funds, except
for Massachusetts Investors Trust, Massachusetts Investors
Growth Stock Fund, MFS Municipal Bond Fund, MFS Municipal
Limited Maturity Fund, MFS Money Market Fund, MFS
Government Money Market Fund and MFS Cash Reserve Fund.
<PAGE>
2. For all Funds listed above, the section of the Prospectus captioned
"Purchases - Class A Shares - Waivers of Initial Sales Charge and CDSC" is
restated in its entirety as follows:
Waivers of Initial Sales Charge and CDSC. In certain
circumstances, the initial sales charge imposed upon purchases of
Class A shares and the CDSC imposed upon redemptions of Class A
shares is waived. These circumstances are described in Appendix A
to this Prospectus. In addition to these circumstances, the CDSC
imposed upon the redemption of Class A shares is waived with
respect to shares held by certain retirement plans qualified under
Section 401(a) or 403(b) of the Internal Revenue Code of 1986, as
amended (the "Code"), and subject to ERISA, where:
(i) the retirement plan
and/or sponsoring organization does not subscribe
to the MFS Participant Recordkeeping System; and
(ii) the retirement plan and/or sponsoring
organization demonstrates to the satisfaction of, and
certifies to, the Shareholder Servicing Agent that the
retirement plan has, at the time of certification or will
have pursuant to a purchase order placed with the
certification, a market value of $500,000 or more invested
in shares of any class or classes of the MFS Funds and
aggregate assets of at least $10 million;
provided, however, the CDSC will not be waived (i.e.,
it will be imposed) (a) with respect to plans which establish an
account with the Shareholder Servicing Agent on or after November
1, 1997, in the event that the plan makes a complete redemption of
all of its shares in the MFS Funds, or (b) with respect to plans
which established an account with the Shareholder Servicing Agent
prior to November 1, 1997, in the event that there is a change in
law or regulation which results in a material adverse change to
the tax advantaged nature of the plan, or in the event that the
plan and/or sponsoring organization: (i) becomes insolvent or
bankrupt; (ii) is terminated under ERISA or is liquidated or
dissolved; or (iii) is acquired by, merged into, or consolidated
with any other entity.
The date of this Supplement is November 1, 1997.
