June 2010 - All persons who, during the period from July 31, 1999 to December 8, 2003, inclusive, purchased, owned or held shares in certain mutual funds in the Massachusetts Financial Services Company family of mutual funds listed below (the “MFS Funds” or “Funds”); (ii) all persons who were participants in or beneficiaries of the MFSavings Retirement Plan during the period from July 31, 1999 to December 8, 2003, inclusive, and whose accounts included investments in the MFS Funds; and (iii) current shareholders of the MFS Funds.
If you purchased, owned or held shares in any of the MFS Funds during the period from July 31, 1999 to December 8, 2003, inclusive (the “Class Period”), you are a member of the Investor Class. Certain persons and entities are excluded from the Investor Class as discussed below in Question 8. If you are an Investor Class Member, your rights will be affected by the proposed Settlements and you may be entitled to a payment from the settlement proceeds.

If you were a participant in or beneficiary of the MFSavings Retirement Plan (the “MFS Plan”) during the Class Period and your account included investments in the MFS Funds, you are a member of the ERISA Class. Certain persons and entities are excluded from the ERISA Class as discussed below in Question 10. If you are an ERISA Class Member, your rights will be affected by the proposed Settlements and you may be entitled to a payment from the settlement proceeds.

The proposed Settlements collectively provide for payment of $75,042,250 in cash (the “Settlement Fund”), plus interest earned on the Settlement Fund (the “Gross Settlement Fund”)

A number of market-timing class action lawsuits and shareholder derivative suits were filed against several fund firms, MFS among them, in late 2003 and early 2004. Those cases were all consolidated in a federal court in Maryland. MFS reached an agreement to settle those cases in March of this year.
In May 2010, the court preliminarily approved the settlements related to the various fund companies, including MFS.

December 2003 - A series of putative securities class action complaints were filed in the United States District Court for the District of Massachusetts alleging unlawful market-timing and late trading in the MFS Funds. ERISA and derivative actions based on the same alleged market-timing and late
trading practices were also filed in various federal courts.

The Mutual Funds (or Securities) at Issue:
MFS Emerging Growth Fund, MFS Research Fund, MFS Value Fund, Massachusetts Investors Trust, Massachusetts Investors Growth Stock Fund, MFS Total Return Fund, MFS Government Securities Fund, MFS Government Mortgage Fund, MFS Capital Opportunities Fund, MFS Utilities Fund, MFS Mid Cap Growth Fund, MFS Managed Sectors Fund, MFS Growth Opportunities Fund, MFS Large Cap Growth Fund, MFS International Growth Fund, MFS Global Growth Fund, MFS Global Equity Fund, MFS High Income Fund, MFS Municipal Bond Fund, MFS Strategic Value Fund, MFS Research International Fund, and MFS New Discovery Fund. These funds are described in this Notice as the “MFS Funds” or the “Funds.”