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SIGNATURE JAMES O. YOST
TITLE ASSISTANT TREASURER
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INDEPENDENT AUDITORS' REPORT
To the Trustees and Shareholders of Massachusetts Investors Trust:
In planning and performing our audit of the financial statements of
Massachusetts Investors Trust (the "Trust") for the year ended December 31, 1999
(on which we have issued our report dated February 3, 2000), we considered its
internal control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, and not to provide assurance on the Trust's internal control.
The management of the Trust is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in any internal control, misstatements due to
error or fraud may occur and not be detected. Also, projection of any evaluation
of internal control to future periods is subject to the risk that the internal
control may become inadequate because of changes in conditions or that the
degree of compliance with policies or procedures deteriorates.
Our consideration of the Trust's internal control would not necessarily disclose
all matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants.
A material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that would
be material in relation to the financial statements being audited may occur and
not be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
Trust's internal control and its operation, including controls for safeguarding
securities that we consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of management, the
Board of Trustees, and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these specified
parties.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
February 3, 2000
ITEM 77Q1
MASSACHUSETTS INVESTORS TRUST
CERTIFICATION OF AMENDMENT
TO THE DECLARATION OF TRUST
ESTABLISHMENT AND DESIGNATION
OF CLASS
The undersigned, being a majority of the Trustees of Massachusetts
Investors Trust (the "Trust"), a trust organized under the laws of The
Commonwealth of Massachusetts pursuant to a Declaration of Trust dated March 21,
1924, as amended (the "Declaration"), acting pursuant to Article VIII, Section
1A of the Declaration, do hereby divide the shares of the Trust to create an
additional class of shares, within the meaning of Article VIII, Section 1A, as
follows:
1. The additional class of shares is designated "Class J Shares";
2. Class J Shares shall be entitled to all the rights and
preferences accorded to shares under the Declaration;
3. The purchase price of Class J Shares, the method of
determination of the net asset value of Class J Shares, the
price, terms and manner of redemption of Class JShares, and
the relative dividend rights of holders of Class J Shares
shall be established by the Trustees of the Trust in
accordance with the Declaration and shall be set forth in the
current prospectus and statement of additional information of
the Trust or any series thereof, as amended from time to
time, contained in the Trust's registration statement under
the Securities Act of 1933, as amended;
4. Class J Shares shall vote together as a single class except
that Shares of a class may vote separately on matters
affecting only that class and Shares of a class not affected
by a matter will not vote on that matter; and
5. A class of Shares of any series of the Trust may be terminated
by the Trustees by written notice to the Shareholders of the
class.
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IN WITNESS WHEREOF, a majority of the Trustees of the Trust have executed
this amendment, in one or more counterparts, all constituting a single
instrument, as an instrument under seal in The Commonwealth of Massachusetts, as
of this 28th day of December, 1999.
_____________________ CHARLES W. SCHMIDT
Richard B. Bailey Charles W. Schmidt
63 Atlantic Avenue 63 Claypit Hill Road
Boston, MA 02110 Wayland, MA 01778
_____________________ ARNOLD D. SCOTT
J. Atwood Ives Arnold D. Scott
17 West Cedar Street 20 Rowes Wharf
Boston, MA 02108 Boston, MA 02110
LAWRENCE T. PERERA _______________
Lawrence T. Perera Jeffrey L. Shames
18 Marlborough Street 38 Lake Avenue
Boston, MA 02116 Newton, MA 02159
WILLIAM J. POORVU ____________________
William J. Poorvu Elaine R. Smith
975 Memorial Drive 75 Scotch Pine Road
Cambridge, MA 02138 Weston, MA 02193
DAVID B. STONE
David B. Stone
282 Beacon Street
Boston, MA 02116
