<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) International Growth Fund
MFS(R) Government Mortgage Fund
MFS(R) International Growth and Income Fund
MFS(R) World Asset Allocation Fund
MFS(R) /Foreign & Colonial Emerging Markets Equity Fund
MFS(R) New Discovery Fund
MFS(R) Research Growth and Income Fund
MFS(R) Alabama Municipal Bond Fund
MFS(R) Equity Income Fund
MFS(R) Arkansas Municipal Bond Fund
MFS(R) Research International Fund
MFS(R) California Municipal Bond Fund
MFS(R) Strategic Growth Fund
MFS(R) Florida Municipal Bond Fund
MFS(R) Emerging Growth Fund
MFS(R) Georgia Municipal Bond Fund
MFS(R) Large Cap Growth Fund
MFS(R) Maryland Municipal Bond Fund
MFS(R) Intermediate Income Fund
MFS(R) Massachusetts Municipal Bond Fund
MFS(R) High Income Fund
MFS(R) Mississippi Municipal Bond Fund
MFS(R) Municipal Bond Fund
MFS(R) New York Municipal Bond Fund
MFS(R) Mid Cap Growth Fund
MFS(R) North Carolina Municipal Bond Fund
MFS(R) Total Return Fund
MFS(R) Pennsylvania Municipal Bond Fund
MFS(R) Research Fund
MFS(R) South Carolina Municipal Bond Fund
MFS(R) World Total Return Fund
MFS(R) Tennessee Municipal Bond Fund
MFS(R) Utilities Fund
MFS(R) Virginia Municipal Bond Fund
MFS(R) World Equity Fund
MFS(R) West Virginia Municipal Bond Fund
MFS(R) World Governments Fund
MFS(R) Municipal Income Fund
MFS(R) Value Fund
MFS(R) Growth Opportunities Fund
MFS(R) Strategic Income Fund
MFS(R) Government Securities Fund
MFS(R) World Growth Fund
Massachusetts Investors Growth Stock Fund
MFS(R) Bond Fund
MFS(R) Government Limited Maturity Fund
MFS(R) Limited Maturity Fund
Massachusetts Investors Trust
MFS(R) Municipal Limited Maturity Fund
MFS(R) Union Standard Equity Fund
SUPPLEMENT TO THE CURRENT PROSPECTUS
This Supplement describes certain changes, effective immediately, to each Fund's
Prospectus.
CHANGES TO SALES CHARGE WAIVER CATEGORIES. In Appendix A to the Prospectus, the
following new subsection is added under Article II (Waivers of Class A Sales
Charges), which sets forth the various circumstances in which the initial sales
charge imposed on purchases of Class A shares is waived:
5. Bank Trust Departments and Law Firms
Shares acquired by certain bank trust departments or law firms
acting as trustee or manager for trust accounts which have entered
into an administrative services agreement with MFD and are
acquiring such shares for the benefit of their trust account
clients.
The date of this Supplement is February 1, 1998.
<PAGE>
MFS New Discovery Fund
MFS World Governments Fund
MFS Research Growth and Income Fund
MFS Value Fund
MFS Equity Income Fund
MFS Strategic Income Fund
MFS Research International Fund
MFS World Growth Fund
MFS Strategic Growth Fund
MFS Bond Fund
MFS Emerging Growth Fund
MFS International Growth Fund
MFS High Income Fund
MFS International Growth and Income Fund
MFS Mid Cap Growth Fund
MFS/Foreign & Colonial Emerging Markets Equity Fund
MFS Research Fund
MFS Utilities Fund
Massachusetts Investors Trust
MFS World Equity Fund
MFS Union Standard Equity Fund
SUPPLEMENT TO THE CURRENT PROSPECTUS
This Supplement describes certain changes, effective immediately, to each Fund's
Prospectus Supplement describing Class I shares.
CHANGES TO ELIGIBLE PURCHASERS. Paragraph (iv) under the caption "Eligible
Purchasers" is hereby amended and replaced in its entirety as follows:
(iv) bank trust departments or law firms acting as trustee or
manager for trust accounts which initially invest, on behalf
of their clients, at least $100,000 in Class I shares of the
Fund (additional investments may be made in any amount);
provided that MFD may accept smaller initial purchases if it
believes, in its sole discretion, that the bank trust
department or law firm will make additional investments, on
behalf of its trust clients, which will cause its total
investment to equal or exceed $100,000 within a reasonable
period of time.
The date of this Supplement is February 1, 1998.
<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 Managed Sectors Fund
MFS World Governments Fund
MFS World Asset Allocation Fund
MFS Capital Opportunities Fund
MFS New Discovery Fund
MFS Strategic Income Fund
MFS Research Growth and Income Fund
MFS World Growth Fund
MFS Equity Income Fund
MFS Bond Fund
MFS Research International Fund
MFS Limited Maturity Fund
MFS Strategic Growth Fund
MFS Government Mortgage Fund
MFS Emerging Growth Fund
MFS International Growth Fund
MFS Large Cap Growth Fund
MFS International Growth and Income Fund
MFS Intermediate Income Fund
MFS/Foreign & Colonial Emerging Markets Equity Fund
MFS High Income Fund
MFS Growth Opportunities Fund
MFS Mid Cap Growth Fund
MFS Government Securities Fund
MFS Total Return Fund
Massachusetts Investors Growth Stock Fund
MFS Research Fund
MFS Government Limited Maturity Fund
MFS World Total Return Fund
Massachusetts Investors Trust
MFS Utilities Fund
MFS Union Standard Equity Fund
MFS World Equity Fund
SUPPLEMENT TO THE CURRENT PROSPECTUS
This Supplement describes certain changes, effective immediately, to each Fund's
Prospectus.
CHANGES TO SALES CHARGE WAIVER CATEGORIES. In Appendix A to the Prospectus, the
following new subsection is added under Article II (Waivers of Class A Sales
Charges), which sets forth the various circumstances in which the initial sales
charge imposed on purchases of Class A shares is waived:
6. Investment of Proceeds From Certain Redemptions of Class I Shares
The initial sales charge imposed on purchases of Class A shares,
and the contingent deferred sales charge imposed on certain
redemptions of Class A shares, are waived with respect to Class A
shares acquired of any of the MFS Funds through the immediate
reinvestment of the proceeds of a redemption of Class I shares of
any of the MFS Funds.
The date of this Supplement is June 5, 1998.
<PAGE>
MFS STRATEGIC GROWTH FUND
Supplement to the January 1, 1998 Prospectus
The section of the Prospectus entitled "Expense Summary" is hereby revised as
follows to reflect the implementation of the 10 basis point Class A distribution
fee under the Fund's Distribution Plan:
1. EXPENSE SUMMARY
<TABLE>
<S> <C> <C> <C>
Shareholder Transaction Expenses: Class A Class B Class C
Maximum Initial Sales Charge Imposed on Purchases of
Fund Shares (as a percentage of offering price)............................. 5.75% 0.00% 0.00%
Maximum Contingent Deferred Sales Charge (as a
percentage of original purchase price or
redemption proceeds, as applicable)......................................... See Below1 4.00% 1.00%
Annual Operating Expenses of the Fund (as a percentage of average daily net
assets):
Management Fees................................................................ 0.75% 0.75% 0.75%
Rule 12b-1 Fees (after expense limitation)..................................... 0.35%(2) 1.00%(3) 1.00%(3)
Other Expenses (after expense limitation)(4) (5)............................... 0.50% 0.50% 0.50%
----- ----- -----
Total Operating Expenses (after expense limitation)(6)......................... 1.60% 2.25% 2.25%
</TABLE>
- --------------------
1. Purchases of $1 million or more and certain purchases by retirement plans
are not subject to an initial sales charge; however, a contingent deferred
sales charge ("CDSC") of 1% will be imposed on such purchases in the event
of certain redemption transactions within 12 months following such
purchases (see "Information Concerning Shares of the Fund Purchases"
below).
2. The Fund has adopted a distribution plan for its shares in accordance with
Rule 12b-1 under the Investment Company Act of 1940, as amended (the "1940
Act") (the "Distribution Plan"), which provides that it will pay
distribution/service fees aggregating up to (but not necessarily all of)
0.35% per annum of the average daily net assets attributable to Class A
shares. Distribution expenses paid under this Plan, together with the
initial sales charge, may cause long-term shareholders to pay more than
the maximum sales charge that would have been permissible if imposed
entirely as an initial sales charge. (See "Information Concerning Shares
of the Fund - Distribution Plan" below).
3. The Fund's Distribution Plan provides that it will pay
distribution/service fees aggregating up to (but not necessarily all of)
1.00% per annum of the average daily net assets attributable to Class B
and Class C shares, respectively. Distribution expenses paid under the
Distribution Plan together with any CDSC payable upon redemption of Class
B and Class C shares, may cause long-term shareholders to pay more than
the maximum sales charge that would have been permissible if imposed
entirely as an initial sales charge (see "Information Concerning Shares of
the Fund Distribution Plan" below).
4. The Fund has an expense offset arrangement which reduces the Fund's
custodian fee based upon the amount of cash maintained by the Fund with
its custodian and dividend disbursing agent, and may enter into other such
arrangements and directed brokerage arrangements (which would also have
the effect of reducing the Fund's expenses). Any such fee reductions are
not reflected under "Other Expenses."
5. The Adviser has agreed to bear the Fund's expenses, subject to
reimbursement by the Fund, such that "Other Expenses" do not exceed 0.50%
per annum of the Fund's average daily net assets during the current fiscal
year. Otherwise, "Other Expenses" for each of Class A, Class B and Class C
shares would be 0.76% per annum.
6. Absent any fee reductions, "Total Operating Expenses" for Class A, Class B
and Class C shares would be 1.86%, 2.51% and 2.51%, respectively (see
"Information Concerning Shares of the Fund - Expenses" below).
<PAGE>
Example of Expenses
An investor would pay the following dollar amounts of expenses on a $1,000
investment in the Fund, assuming (a) a 5% annual return and (b) redemption at
the end of each of the time periods indicated (unless otherwise noted):
<TABLE>
<S> <C> <C> <C>
Period Class A Class B Class C
------ ------- ------- -------
(1) (1)
1 year.................... $ 73 $ 63 $ 23 $ 33 $ 23
3 years................... 105 100 70 70 70
5 years................... 140 140 120 120 120
10 years.................. 237 242(2) 242(2) 258 258
</TABLE>
- -----------
1. Assumes no redemption.
2. Class B shares convert to Class A shares approximately eight years after
purchase; therefore, years nine and ten reflect Class A expenses.
The purpose of the expense table above is to assist investors in
understanding the various costs and expenses that a shareholder of the Fund will
bear directly or indirectly. More complete descriptions of the following Fund
expenses are set forth in the following sections: (i) varying sales charges on
shares purchases - "Information Concerning Shares of the Fund -Purchases"; (ii)
varying CDSCs - "Information Concerning Shares of the Fund - Purchases"; (iii)
management fees "Management of the Fund - Investment Adviser"; and (iv) Rule
12b-1 (i.e., distribution plan) fees - "Information Concerning Shares of the
Fund - Distribution Plan."
The "Example" set forth above should not be considered a representation of
past or future expenses of the Fund; actual expenses may be greater or less than
those shown.
***
The section entitled "Current Level of Distribution and Service Fees" on
page 31 of the Prospectus is revised as follows: The Fund's Class A, Class B and
Class C distribution and service fees for its current fiscal year are 0.35%,
1.00% and 1.00% per annum, respectively.
The date of this Supplement is June 24, 1998.
<PAGE>
MFS Managed Sectors Fund
MFS Limited Maturity Fund
MFS Cash Reserve Fund
MFS Municipal Limited Maturity Fund
MFS World Asset Allocation Fund
MFS Government Mortgage Fund
MFS New Discovery Fund
MFS International Growth Fund
MFS Research Growth and Income Fund
MFS International Growth and Income Fund
MFS Equity Income Fund
MFS/Foreign & Colonial Emerging Markets Equity Fund
MFS Research International Fund
MFS Alabama Municipal Bond Fund
MFS Strategic Growth Fund
MFS Arkansas Municipal Bond Fund
MFS Emerging Growth Fund
MFS California Municipal Bond Fund
MFS Large Cap Growth Fund
MFS Florida Municipal Bond Fund
MFS Intermediate Income Fund
MFS Georgia Municipal Bond Fund
MFS High Income Fund
MFS Maryland Municipal Bond Fund
MFS Municipal High Income Fund
MFS Massachusetts Municipal Bond Fund
MFS Money Market Fund
MFS Mississippi Municipal Bond Fund
MFS Government Money Market Fund
MFS New York Municipal Bond Fund
MFS Municipal Bond Fund
MFS North Carolina Municipal Bond Fund
MFS Mid Cap Growth Fund
MFS Pennsylvania Municipal Bond Fund
MFS Total Return Fund
MFS South Carolina Municipal Bond Fund
MFS Research Fund
MFS Tennessee Municipal Bond Fund
MFS World Total Return Fund
MFS Virginia Municipal Bond Fund
MFS Utilities Fund
MFS West Virginia Municipal Bond Fund
MFS World Equity Fund
MFS Municipal Income Fund
MFS World Governments Fund
MFS Growth Opportunities Fund
MFS Capital Opportunities Fund
MFS Government Securities Fund
MFS Strategic Income Fund
Massachusetts Investors Growth Stock Fund
MFS World Growth Fund
MFS Government Limited Maturity Fund
MFS Bond Fund
Massachusetts Investors Trust
MFS Union Standard Equity Fund
SUPPLEMENT TO THE CURRENT PROSPECTUS
This Supplement describes certain changes to each Fund's Prospectus.
Effective September 15, 1998, each Fund will adopt the following new market
timing policy which will replace the current policy as disclosed under the
heading "Information Concerning Shares of the Fund - Purchases - General - Right
to Reject Purchase Orders/Market
Timing" in the Prospectus:
Right to Reject Purchase Orders/Market Timing. Purchases and exchanges should be
made for investment purposes only. The Fund and MFD each reserve the right to
reject or restrict any specific purchase or exchange request. In the event that
the Fund or MFD rejects an exchange request, neither the redemption nor the
purchase side of the exchange will be processed.
The MFS Family of Funds is not designed for professional market timing
organizations or other entities using programmed or frequent exchanges. The MFS
Family of Funds defines a "market timer" as an individual or organization acting
on behalf of one or more individuals, if (i) the individual or organization
makes six or more exchange requests among the MFS Family of Funds or three or
more exchange requests out of any of the MFS high yield bond funds or MFS
municipal bond funds per calendar year and (ii) any one of such exchange
requests represents shares equal in value to $1 million. Accounts under common
ownership or control, including accounts administered by market timers, will be
aggregated for purposes of this definition.
As noted above, the Fund and MFD each reserves the right to reject or restrict
any specific purchase and exchange request and, in addition, may impose specific
limitations with respect to market timers, including (i) delaying for up to
seven days the purchase side of an exchange request by market timers, (ii)
rejecting or otherwise restricting purchase or exchange requests by market
timers; and (iii) permitting exchanges by market timers only into certain MFS
Funds.
Provision of Annual and Semiannual Reports
To avoid sending duplicate copies of materials to households, effective
September 15, 1998, only one copy of each Fund annual and semiannual report may
be mailed to shareholders having the same residential address on the Fund's
records. However, any shareholder may call the Shareholder Servicing Agent at
1-800-225-2606 to request that copies of such reports be sent personally to that
shareholder.
The date of this Supplement is July 1, 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.
