<PAGE>
MFS STRATEGIC GROWTH FUND
MFS EQUITY INCOME FUND
Supplement to the Current Prospectus
During the period from April 1, 1998, through June 30, 1998 (unless
extended by MFS Fund Distributors, Inc. ("MFD")) (the "Sales Period"), MFD will
pay Vestax Securities Corp. 100% of the applicable sales charge on sales of
Class A shares of the Fund sold by them during the Sales Period. In addition,
MFD will pay Vestax Securities Corp. an additional commission equal to 0.50% of
the net asset value of all of the Class B shares of the Fund sold by them during
the Sales Period.
The date of this Supplement is April 1, 1998.
<PAGE>
MFS STRATEGIC GROWTH FUND
MFS EQUITY INCOME FUND
Supplement to the Current Prospectus
During the period from April 1, 1998, through June 30, 1998 (unless
extended by MFS Fund Distributors, Inc. ("MFD")) (the "Sales Period"), MFD will
pay Locust Street Securities, Inc., 100% of the applicable sales charge on sales
of Class A shares of the Fund sold by them during the Sales Period. In addition,
MFD will pay Locust Street Securities, Inc., an additional commission equal to
0.50% of the net asset value of all of the Class B shares of the Fund sold by
them during the Sales Period.
The date of this Supplement is April 1, 1998.
<PAGE>
MFS STRATEGIC GROWTH FUND
MFS EQUITY INCOME FUND
MFS NEW DISCOVERY FUND
Supplement to the Current Prospectus
During the period from April 1, 1998, through June 30, 1998 (unless
extended by MFS Fund Distributors, Inc. ("MFD")) (the "Sales Period"), MFD will
pay Cadaret Grant & Co., Inc., 100% of the applicable sales charge on sales of
Class A shares of the Fund sold by them during the Sales Period. In addition,
MFD will pay Cadaret Grant & Co., Inc., an additional commission equal to 0.50%
of the net asset value of all of the Class B shares of the Fund sold by them
during the Sales Period.
The date of this Supplement is April 1, 1998.
<PAGE>
MFS STRATEGIC GROWTH FUND
MFS EQUITY INCOME FUND
Supplement to the Current Prospectus
During the period from April 1, 1998, through June 30, 1998 (unless
extended by MFS Fund Distributors, Inc. ("MFD")) (the "Sales Period"), MFD will
pay Financial Network Investment Corp. 100% of the applicable sales charge on
sales of Class A shares of the Fund sold by them during the Sales Period. In
addition, MFD will pay Financial Network Investment Corp. an additional
commission equal to 0.50% of the net asset value of all of the Class B shares of
the Fund sold by them during the Sales Period.
The date of this Supplement is April 1, 1998.
<PAGE>
MFS STRATEGIC GROWTH FUND
MFS EQUITY INCOME FUND
Supplement to the Current Prospectus
During the period from April 1, 1998, through June 30, 1998 (unless
extended by MFS Fund Distributors, Inc. ("MFD")) (the "Sales Period"), MFD will
pay FSC Securities Corp. 100% of the applicable sales charge on sales of Class A
shares of the Fund sold by them during the Sales Period. In addition, MFD will
pay FSC Securities Corp. an additional commission equal to 0.50% of the net
asset value of all of the Class B shares of the Fund sold by them during the
Sales Period.
The date of this Supplement is April 1, 1998.
<PAGE>
MFS STRATEGIC GROWTH FUND
MFS EQUITY INCOME FUND
Supplement to the Current Prospectus
During the period from April 1, 1998, through June 30, 1998 (unless
extended by MFS Fund Distributors, Inc. ("MFD")) (the "Sales Period"), MFD will
pay Franklin Financial Services 100% of the applicable sales charge on sales of
Class A shares of the Fund sold by them during the Sales Period. In addition,
MFD will pay Franklin Financial Services an additional commission equal to 0.50%
of the net asset value of all of the Class B shares of the Fund sold by them
during the Sales Period.
The date of this Supplement is April 1, 1998.
<PAGE>
MFS EQUITY INCOME FUND
Supplement to the Current Prospectus
During the period from April 1, 1998, through June 30, 1998 (unless
extended by MFS Fund Distributors, Inc. ("MFD")) (the "Sales Period"), MFD will
pay Investment Management & Research, Inc., 100% of the applicable sales charge
on sales of Class A shares of the Fund sold by them during the Sales Period. In
addition, MFD will pay Investment Management & Research, Inc., an additional
commission equal to 0.50% of the net asset value of all of the Class B shares of
the Fund sold by them during the Sales Period.
The date of this Supplement is April 1, 1998.
