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<PAGE>
MFS(R) CONVERTIBLE SECURITIES FUND
Supplement to the Current Prospectus
The description of portfolio manager under the "Management of the Funds
Investment Adviser" section is hereby revised as follows: Effective April 1,
1998, Constantinos G. Mokas is the portfolio manager of the Fund. Mr. Mokas, a
Vice President of the Adviser, has been employed as a portfolio manager with the
Adviser since 1990.
The date of this Supplement is April 1, 1998.
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