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MFS(R)/FOREIGN & COLONIAL EMERGING MARKETS EQUITY FUND
Supplement to Current Prospectus
As disclosed in the fund's Prospectus, Foreign & Colonial Management Ltd.
("FCM") and its subsidiary, Foreign & Colonial Emerging Markets Limited
("FCEM"), currently manage the assets of the fund invested in foreign emerging
market securities, which constitute the primary investment focus of the fund.
The following changes will take effect on December 1, 1999:
o MFS will assume all portfolio management responsibilities for emerging
market securities from FCM and FCEM for the fund, and the
sub-investment advisory agreements pursuant to which FCM and FCEM
provide their services will terminate.
o The fund's name will change to "MFS Emerging Markets Equity Fund".
o The description of the manner in which foreign emerging markets
securities are managed, as contained in the Prospectus, will be
revised as follows:
The fund is managed by a committee of investment research
analysts. This committee includes investment analysts not only
employed by MFS but also by MFS' foreign advisory affiliates. The
fund's assets are allocated among countries and industries by the
analysts acting together as a group. Individual analysts are then
responsible for selecting what they view as the securities best
suited to meet the fund's investment objective within their
assigned geographic and industry responsibility.
The date of this Supplement is November 18, 1999.
