<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(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) Research International Fund
MFS(R) Maryland Municipal Bond Fund
MFS(R) Emerging Growth Fund
MFS(R) Massachusetts Municipal Bond Fund
MFS(R) Large Cap Growth Fund
MFS(R) Mississippi Municipal Bond Fund
MFS(R) Intermediate Income Fund
MFS(R) New York Municipal Bond Fund
MFS(R) High Income Fund
MFS(R) North Carolina Municipal Bond Fund
MFS(R) Municipal High Income Fund
MFS(R) Pennsylvania Municipal Bond Fund
MFS(R) Municipal Bond Fund
MFS(R) South Carolina Municipal Bond Fund
MFS(R) Mid Cap Growth Fund
MFS(R) Tennessee Municipal Bond Fund
MFS(R) Total Return Fund
MFS(R) Virginia Municipal Bond Fund
MFS(R) Research Fund
MFS(R) West Virginia Municipal Bond Fund
MFS(R) World Total Return Fund
MFS(R) Municipal Income Fund
MFS(R) Utilities Fund
MFS(R) Union Standard Equity Fund
MFS(R) World Equity Fund
MFS(R) Growth Opportunities Fund
MFS(R) World Governments Fund
MFS(R) Government Securities Fund
MFS(R) Value Fund
Massachusetts Investors Growth Stock Fund
MFS(R) Strategic Income Fund
MFS(R) Government Limited Maturity Fund
MFS(R) World Growth Fund
Massachusetts Investors Trust
MFS(R) Bond Fund
MFS(R) International Growth Fund
MFS(R) Limited Maturity Fund
MFS(R) International Growth and Income Fund
MFS(R) Money Market Fund
MFS/Foreign & Colonial Emerging Markets Equity Fund
MFS(R) Government Money Market 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.
<PAGE>
3. RECEIPT OF PURCHASE AND REDEMPTION ORDERS. The Fund has authorized one or
more brokers to receive purchase and redemption orders on behalf of the Fund.
Such brokers are authorized to designate other intermediaries to receive
purchase and redemption orders on behalf of the Fund. The Fund will be deemed to
have received a purchase or redemption order when an authorized broker or, if
applicable, a broker's authorized designee, receives the order. Customer orders
will be priced at the net asset value of the Fund next computed after such
orders are received by an authorized broker or the broker's authorized designee.
The date of this Supplement is March 16, 1998.
<PAGE>
MFS(R) Managed Sectors Fund
MFS(R) Limited Maturity Fund
MFS(R) Cash Reserve Fund
MFS(R) Municipal Limited Maturity Fund
MFS(R) Global Asset Allocation Fund
MFS(R) Government Mortgage Fund
MFS(R) New Discovery Fund
MFS(R) International Growth Fund
MFS(R) Research Growth and Income Fund
MFS(R) International Growth and Income Fund
MFS(R) Equity Income Fund
MFS/Foreign & Colonial Emerging Markets Equity Fund
MFS(R) Research International Fund
MFS(R) Alabama Municipal Bond Fund
MFS(R) Strategic Growth Fund
MFS(R) Arkansas Municipal Bond Fund
MFS(R) Emerging Growth Fund
MFS(R) California Municipal Bond Fund
MFS(R) Large Cap Growth Fund
MFS(R) Florida Municipal Bond Fund
MFS(R) Intermediate Income Fund
MFS(R) Georgia Municipal Bond Fund
MFS(R) High Income Fund
MFS(R) Maryland Municipal Bond Fund
MFS(R) Municipal High Income Fund
MFS(R) Massachusetts Municipal Bond Fund
MFS(R) High Yield Opportunities Fund
MFS(R) Mississippi Municipal Bond Fund
MFS(R) Money Market Fund
MFS(R) New York Municipal Bond Fund
MFS(R) Government Money Market 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) Global Total Return Fund
MFS(R) West Virginia Municipal Bond Fund
MFS(R) Utilities Fund
MFS(R) Municipal Income Fund
MFS(R) Global Equity Fund
MFS(R) Growth Opportunities Fund
MFS(R) Global Governments Fund
MFS(R) Government Securities Fund
MFS(R) Capital Opportunities Fund
Massachusetts Investors Growth Stock Fund
MFS(R) Strategic Income Fund
MFS(R) Government Limited Maturity Fund
MFS(R) Global Growth Fund
Massachusetts Investors Trust
MFS(R) Bond Fund
MFS(R) Union Standard Equity Fund
SUPPLEMENT TO THE CURRENT PROSPECTUS
Until terminated by MFS Fund Distributors, Inc. ("MFD"), the Funds' distributor,
MFD will incur, on behalf of H. D. Vest Investment Securities, Inc., the initial
ticket charge of $15 with respect to purchases of shares of any MFS fund made
through VESTADVISOR accounts. 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 September 15, 1998.
<PAGE>
MFS(R) Managed Sectors Fund
MFS(R) Limited Maturity Fund
MFS(R) Cash Reserve Fund
MFS(R) Municipal Limited Maturity Fund
MFS(R) Global Asset Allocation Fund
MFS(R) Government Mortgage Fund
MFS(R) New Discovery Fund
MFS(R) International Growth Fund
MFS(R) Research Growth and Income Fund
MFS(R) International Growth and Income Fund
MFS(R) Equity Income Fund
MFS(R)/Foreign & Colonial Emerging Markets Equity Fund
MFS(R) Research International Fund
MFS(R) Alabama Municipal Bond Fund
MFS(R) Strategic Growth Fund
MFS(R) Arkansas Municipal Bond Fund
MFS(R) Emerging Growth Fund
MFS(R) California Municipal Bond Fund
MFS(R) Large Cap Growth Fund
MFS(R) Florida Municipal Bond Fund
MFS(R) Intermediate Income Fund
MFS(R) Georgia Municipal Bond Fund
MFS(R) High Income Fund
MFS(R) Maryland Municipal Bond Fund
MFS(R) Municipal High Income Fund
MFS(R) Massachusetts Municipal Bond Fund
MFS(R) High Yield Opportunities Fund
MFS(R) Mississippi Municipal Bond Fund
MFS(R) Money Market Fund
MFS(R) New York Municipal Bond Fund
MFS(R) Government Money Market 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) Global Total Return Fund
MFS(R) West Virginia Municipal Bond Fund
MFS(R) Utilities Fund
MFS(R) Municipal Income Fund
MFS(R) Global Equity Fund
MFS(R) Growth Opportunities Fund
MFS(R) Global Governments Fund
MFS(R) Government Securities Fund
MFS(R) Capital Opportunities Fund
Massachusetts Investors Growth Stock Fund
MFS(R) Strategic Income Fund
MFS(R) Government Limited Maturity Fund
MFS(R) Global Growth Fund
Massachusetts Investors Trust
MFS(R) Bond Fund
MFS(R) Union Standard(R) Equity Fund
Supplement to Current Prospectus
The following changes to the Fund's Prospectus take effect on November 15, 1998:
1. The third paragraph under the heading "Information Concerning Shares of
the Fund -Purchases - Class A Shares - Purchases Subject to a CDSC" is
revised in its entirety as follows:
on investments in Class A shares by certain retirement plans
subject to ERISA, if
the retirement plan and/or sponsoring organization
participates in the MFS Fundamental 401(k) Program or any
similar recordkeeping system made available by MFSC
(referred to as the MFS Participant Recordkeeping System);
the plan establishes an account with MFSC on or after
July 1, 1996;
<PAGE>
the total purchases by the retirement plan of class A
shares of the MFS Funds will be in the amount of at least
$500,000 within a reasonable period of time, as determined
by MFD in its sole discretion; and
the plan has not redeemed its class B shares in the MFS
funds in order to purchase class A shares under this
category.
2. The fourth paragraph under the heading "Information Concerning Shares
of the Fund -Purchases - Class B Shares" is revised in its entirety and
a fifth and sixth paragraph is added, as follows:
Class B shares purchased by a retirement plan whose sponsoring
organization subscribes to the MFS Participant Recordkeeping System and
which established its account with the Shareholder Servicing Agent
between July 1, 1996 and December 31, 1998 will be subject to the CDSC
described above, only under limited circumstances, as explained below
under "Waivers of CDSC." With respect to such purchases, MFD pays an
amount to dealers equal to 3.00% of the amount purchased through such
dealers (rather than the 4.00% payment described above), which is
comprised of a commission of 2.75% plus the advancement of the first
year service fee equal to 0.25% of the purchase price payable under the
Fund's Distribution Plan.
For purchases of Class B shares by a retirement plan whose sponsoring
organization subscribes to the MFS Recordkeeper Plus product and which
establishes its account with MFSC on or after January 1, 1999 (provided
that the plan establishment paperwork is received by MFSC in good order
on or after November 15, 1998), MFD pays no up front commissions to
dealers, but instead pays an amount to dealers equal to 1% per annum of
the average daily net assets of the Fund attributable to plan assets,
payable at the rate of 0.25% at the end of each calendar quarter, in
arrears. This commission structure is not available with respect to a
plan with a pre-existing account(s) with any MFS Fund which seeks to
switch to the MFS Recordkeeper Plus Product.
Certain retirement plans are eligible to purchase Class A shares of the
Fund at net asset value without an initial sales charge but subject to
a 1% CDSC if the plan has, at the time of purchase, a market value of
$500,000 or more invested in shares of any class or classes of the MFS
Funds. In this event, the plan or its sponsoring organization should
inform the Shareholder Servicing Agent that the plan is eligible to
purchase Class A shares under this category; the Shareholder Servicing
Agent has no obligation independently to determine whether such a plan
qualifies under this category for the purchase of Class A shares.
3. The paragraph under the heading "Information Concerning Shares of the
Fund Purchases - Class B Shares - Waivers of CDSC" is revised in its
entirety and a new paragraph is added, as follows:
In certain circumstances, the CDSC imposed upon redemption of Class B
shares is waived. These circumstances are described in Appendix A to
this Prospectus. In addition
<PAGE>
to these circumstances, the CDSC imposed upon the redemption of Class
B shares is waived with respect to shares held by a retirement plan
whose sponsoring organization subscribes to the MFS Participant
Recordkeeping System and which established an account with the
Shareholder Servicing Agent between July 1, 1996 and December 31,
1998; provided, however, that the CDSC will not be waived (i.e., it
will be imposed) in the event that there is a change in law or
regulations 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.
In addition to these circumstances, the CDSC imposed upon the
redemption of Class B shares is waived with respect to shares held by a
retirement plan whose sponsoring organization subscribes to the MFS
Recordkeeper Plus product and which establishes its account with MFSC
on or after January 1, 1999 (provided that the plan establishment
paperwork is received by MFSC in good order on or after November 15,
1998). A plan with a pre-existing account(s) with any MFS Fund which
switches to the MFS Recordkeeper Plus product will not become eligible
for this waiver category.
4. Appendix A to the Prospectus is revised to add a new waiver category
under the heading "Waivers of All Applicable Sales Charges - 5.
Retirement Plans (CDSC waiver only) - Section 401(a) Plans ("401(a)
Plans") and Section 403(b) Employer Sponsored Plans ("ESP Plans")" as
follows:
Shares purchased by certain retirement plans or trust
accounts if: (i) the plan is currently a party to a
retirement plan recordkeeping or administrative services
agreement with MFD or one if its affiliates and (ii) the
shares purchased or redeemed represent transfers from or
transfers to plan investments other than the MFS Funds of
which retirement plan recordkeeping services are provided
under the terms of such agreement.
5. A new paragraph is added under the caption "Management of the
Fund-Investment Adviser" as follows:
YEAR 2000 ISSUES
The Fund could be adversely affected if the computer systems used by
MFS, the Fund's other service providers or the companies in which the
Fund invests do not properly process date-related information from and
after January 1, 2000 (the "Year 2000 Issue"). MFS recognizes the
importance of the Year 2000 Issue and, to address Year 2000 compliance,
created a Year 2000 Program Management Office in 1996, which is
separately funded, has a specialized staff and reports directly to MFS
Senior Management. The Office, with the help of external consultants,
is responsible for ascertaining that all internal systems, data feeds
and third party applications are Year 2000 compliant. While MFS is
confident that all MFS systems will be Year 2000 compliant before the
turn of the century, there are
<PAGE>
significant systems interdependencies in the domestic and foreign
markets for securities, the business environments in which companies
held by the Fund operate and in MFS' own business environment. MFS has
been actively working with the Fund's other service providers to
identify and respond to potential problems in an effort to ensure Year
2000 compliance or develop contingency plans. Year 2000 compliance is
also one the factors considered by MFS in its ongoing assessment of
companies in which the Fund invests. There can be no assurance,
however, that these steps will be sufficient to avoid any adverse
impact on the Fund.
The date of this Supplement is November 15, 1998.
<PAGE>
MFS(R) Core Growth Fund
MFS(R) Convertible Securities Fund
MFS(R) Blue Chip Fund
MFS(R) Science and Technology Fund
MFS(R) Special Opportunities Fund
MFS(R) International Opportunities Fund
MFS(R) International Strategic Growth Fund
MFS(R) International Value Fund
MFS(R) Strategic Value Fund
MFS(R) Small Cap Value Fund
MFS(R) Emerging Markets Debt Fund
Supplement to Current Prospectus
The following changes to the Fund's Prospectus take effect on November 15, 1998:
1. The third paragraph under the heading "Information Concerning Shares of
the Fund - Purchases - Class A Shares Purchases Subject to a CDSC" is
revised in its entirety as follows:
on investments in Class A shares by certain retirement
plans subject to ERISA, if
the retirement plan and/or sponsoring organization
participates in the MFS Fundamental 401(k) Program or any
similar recordkeeping system made available by MFSC
(referred to as the MFS Participant Recordkeeping System);
the plan establishes an account with MFSC on
or after July 1, 1996;
the total purchases by the retirement plan of class A
shares of the MFS Funds will be in the amount of at least
$500,000 within a reasonable period of time, as determined
by MFD in its sole discretion; and
the plan has not redeemed its class B shares in the MFS
funds in order to purchase class A shares under this
category.
2. The fourth paragraph under the heading "Information Concerning Shares
of the Fund - Purchases - Class B Shares" is revised in its entirety
and a fifth and sixth paragraph is added, as follows:
Class B shares purchased by a retirement plan whose sponsoring
organization subscribes to the MFS Participant Recordkeeping System and
which established its account with the Shareholder Servicing Agent
between July 1, 1996 and December 31, 1998 will be subject to the CDSC
described above, only under limited circumstances, as explained below
under "Waivers of CDSC." With respect to such purchases, MFD pays an
amount to dealers equal to 3.00% of the amount purchased through such
dealers (rather than the 4.00% payment described above), which is
comprised of a commission of 2.75% plus the advancement of the first
year service fee equal to 0.25% of the purchase price payable under the
Fund's Distribution Plan.
For purchases of Class B shares by a retirement plan whose sponsoring
organization subscribes to the MFS Recordkeeper Plus product and which
establishes its account with MFSC on or after January 1, 1999 (provided
that the plan establishment paperwork is received by MFSC in good order
on or after November 15, 1998), MFD pays no up front commissions to
dealers, but instead
<PAGE>
pays an amount to dealers equal to 1% per annum of the average daily
net assets of the Fund attributable to plan assets, payable at the
rate of 0.25% at the end of each calendar quarter, in arrears. This
commission structure is not available with respect to a plan with a
pre-existing account(s) with any MFS Fund which seeks to switch to the
MFS Recordkeeper Plus Product.
Certain retirement plans are eligible to purchase Class A shares of the
Fund at net asset value without an initial sales charge but subject to
a 1% CDSC if the plan has, at the time of purchase, a market value of
$500,000 or more invested in shares of any class or classes of the MFS
Funds. In this event, the plan or its sponsoring organization should
inform the Shareholder Servicing Agent that the plan is eligible to
purchase Class A shares under this category; the Shareholder Servicing
Agent has no obligation independently to determine whether such a plan
qualifies under this category for the purchase of Class A shares.
3. The paragraph under the heading "Information Concerning Shares of the
Fund - Purchases - Class B Shares-Waivers of CDSC" is revised in its
entirety and a new paragraph is added, as follows:
In certain circumstances, the CDSC imposed upon redemption of Class B
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 B shares is waived with respect to shares
held by a retirement plan whose sponsoring organization subscribed to
the MFS Participant Recordkeeping System and which established an
account with the Shareholder Servicing Agent between July 1, 1996 and
December 31, 1998; provided, however, that the CDSC will not be waived
(i.e., it will be imposed) in the event that there is a change in law
or regulations 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.
In addition to these circumstances, the CDSC imposed upon the
redemption of Class B shares is waived with respect to shared held by a
retirement plan whose sponsoring organization subscribes to the MFS
Recordkeeper Plus product and which establishes its account with MFSC
on or after January 1, 1999 (proved that the plan establishment
paperwork is received by MFSC in good order on or after November 15,
1998). A plan with a pre-existing account(s) with any MFS Fund which
switches to the MFS Recordkeeper Plus product will not become eligible
for this waiver category.
4. Appendix A to the Prospectus is revised to add a new waiver category
under the heading "Waivers of All Applicable Sales Charges - 5.
Retirement Plans (CDSC waiver only) - Section 401(a) Plans ("401(a)
Plans") and Section 403(b) Employer Sponsored Plans ("ESP Plans")" as
follows:
Shares purchased by certain retirement plans or trust
accounts if: (i) the plan is currently a party to a
retirement plan recordkeeping or administrative services
agreement with MFD or one if its affiliates and (ii) the
shares purchased or redeemed represent transfers from or
transfers to plan investments other than the MFS Funds
<PAGE>
of which retirement plan recordkeeping services are
provided under the terms of such agreement.
5. A new paragraph is added under the caption "Management of the Fund Investment
Adviser" as follows:
YEAR 2000 ISSUES
The Fund could be adversely affected if the computer systems used by
MFS, the Fund's other service providers or the companies in which the
Fund invests do not properly process date-related information from and
after January 1, 2000 (the "Year 2000 Issue"). MFS recognized the
importance of the Year 2000 Issue and, to address Year 2000 compliance,
created a year 2000 Program Management Office in 1996, which is
separately funded, has a specialized staff and reports directly to MFS
Senior Management The Office, with the help of external consultants, is
responsible for ascertaining that all internal systems, data feeds and
third party applications are year 2000 compliant. While MFS is
confident that all MFS systems will be Year 2000 compliant before the
turn of the century, there are significant systems interdependencies in
the domestic and foreign markets for securities, the business
environments in which companies held by the Fund operate and in MFS'
own business environment. MFS has been actively working with the Fund's
other service providers to identify and respond to potential problems
in an effort to ensure Year 2000 compliance or develop contingency
plans. Year 2000 compliance is also one the factors considered by MFS
in its ongoing assessment of companies in which the Fund invests. There
can be no assurance, however, that these steps will be sufficient to
avoid any adverse impact on the Fund.
The date of this Supplement is November 15, 1998.
