MFS[RegTM] VARIABLE INSURANCE TRUST[SM]
MFS EMERGING GROWTH SERIES MFS NEW DISCOVERY SERIES
MFS CAPITAL OPPORTUNITIES SERIES MFS GLOBAL GOVERNMENTS SERIES
MFS GROWTH WITH INCOME SERIES
Supplement dated May 1, 2000 to the Current Prospectus
This Supplement describes the series' service class shares, and it
supplements certain information in the series' Prospectus dated May 1,
2000. The caption headings used in this Supplement correspond with the
caption headings used in the Prospectus. All series described here may not
be available for purchase through your insurance contract. See your
insurance contract prospectus for a list of available investment products.
Service class shares were first offered for sale on May 1, 2000.
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I EXPENSE SUMMARY
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(>) Expense Table
The "Expense Table" describes the fees and expenses that you may pay when
you buy, redeem and hold service shares of each series. The table is
supplemented as follows:
Annual Series Operating Expenses (expenses that are deducted from series'
assets):
<TABLE>
<CAPTION>
Growth
Emerging Capital With New Global
Growth Opportunities Income Discovery Governments
Series Series Series Series Series
---------- --------------- ---------- ----------- ------------
<S> <C> <C> <C> <C> <C>
Management Fees ................................. 0.75% 0.75% 0.75% 0.90% 0.75%
Distribution (12b-1) Fees(1) .................... 0.20% 0.20% 0.20% 0.20% 0.20%
Other Expenses(2) ............................... 0.09% 0.27% 0.13% 1.59% 0.30%
---- ----- ---- ----- -----
Total Annual Fund Operating Expenses(2) ......... 1.04% 1.22% 1.08% 2.69% 1.25%
Fee Waiver/Expense Reimbursement(3) ............ N/A (0.11)% N/A (1.42)% (0.14)%
---- ----- ---- ----- -----
Net Expenses(2) ................................ 1.04% 1.11% 1.08% 1.27% 1.11%
---- ----- ---- ----- -----
</TABLE>
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(1) Each series has adopted a distribution plan under Rule 12b-1 that
permits it to pay marketing and other fees to support the sale and
distribution of service class shares (these fees are referred to as
distribution fees).
(2) Each series has an expense offset arrangement that reduces the series'
custodian fee based upon the amount of cash maintained by the series
with its custodian and dividend disbursing agent. The series may enter
into other similar arrangements and directed brokerage arrangements,
which would also have the effect of reducing the series' expenses.
"Other Expenses" do not take into account these expense reductions,
and are therefore higher than the actual expenses of the series. Had
these fee reductions been taken into account, "Net Expenses" would be
lower, and for service class shares would be estimated to be:
<TABLE>
<S> <C>
1.03% for Emerging Growth Series 1.25% for New Discovery Series
1.10% for Capital Opportunities Series 1.10% for Global Governments Series
1.07% for Growth With Income Series
</TABLE>
(3) MFS has contractually agreed, subject to reimbursement, to bear the
series' expenses such that "Other Expenses" (after taking into account
the expense offset arrangement described above) do not exceed 0.15%
annually. These contractual fee arrangements will continue until at
least May 1, 2001, unless changed with the consent of the board of
trustees which oversees the series.
(>) Example of Expenses
The "Example of Expenses" table is intended to help you compare the cost of
investing in each series with the cost of investing in other mutual funds.
The examples assume that:
o You invest $10,000 in the series for the time periods indicated and
you redeem your shares at the end of the time periods;
o Your investment has a 5% return each year and dividends and other
distributions are reinvested; and
o The series' operating expenses remain the same, except that the
series' total operating expenses are assumed to be the series' "Net
Expenses" for the first year, and the series' "Total Annual Fund
Operating Expenses" for subsequent years (see Expense Table).
<PAGE>
The table is supplemented as follows:
<TABLE>
<CAPTION>
Service Class Shares Year 1 Year 3
----------------------------------------------------------
<S> <C> <C>
Emerging Growth Series $106 $331
Capital Opportunities Series 113 376
Growth With Income Series 110 343
New Discovery Series 129 700
Global Governments Series 113 383
</TABLE>
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II DISTRIBUTION FEES
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Each series has adopted a plan under Rule 12b-1 that permits it to pay
marketing and other fees to support the sale and distribution of service
class shares. These annual distribution fees may equal up to 0.25%, and are
paid out of the assets of each series' service class shares. Over time,
these fees will increase the cost of your shares and may cost you more than
paying other types of sales charges. Currently, the distribution fee is
0.20% of each series' service class shares. The remaining 0.05% service
class distribution fee is not being imposed and will be imposed only with
the approval of the Trustees of the Trust.
The date of this Supplement is May 1, 2000
