Class Action Commenced Against Sun Life Financial Inc. and Massachusetts Financial Services Company on Behalf of Purchasers Of MFS Family of Funds By Rabin, Murray & Frank LLP -- MEIAX, MITTX, MACFX, MFBFX


NEW YORK, Dec. 17, 2003 (PRIMEZONE) -- A class action lawsuit has been filed in United States District Court for the District of Massachusetts, 03 CV 12536, on behalf of all persons or entities who purchased or otherwise acquired MFS Value Fund (Nasdaq:MFEBX), (Nasdaq:MEICX), (Nasdaq:MFVRX), (Nasdaq:MVRRX), (Nasdaq:EAVLX), (Nasdaq:EBVLX), (Nasdaq:ECVLX), (Nasdaq:MEIIX); Massachusetts Investors Trust (Nasdaq:MITBX), (Nasdaq:MITCX), (Nasdaq:MITRX), (Nasdaq:MIRTX), (Nasdaq:EAMTX), (Nasdaq:EBMTX), (Nasdaq:ECITX), (Nasdaq:MITIX); MFS Conservative Allocation Fund (Nasdaq:MACBX), (Nasdaq:MACVX), (Nasdaq:MACRX), (Nasdaq:MCARX), (Nasdaq:ECLAX), (Nasdaq:EBCAX), (Nasdaq:ECACX), (Nasdaq:MACIX); MFS Bond Fund (Nasdaq:MFBBX), (Nasdaq:MFBCX), (Nasdaq:MFBRX), (Nasdaq:MBRRX), (Nasdaq:EABDX), (Nasdaq:EBBDX), (Nasdaq:ECBDX, (Nasdaq:MBDIX), between December 15, 1998 and December 7, 2003 (the "Class Period"), inclusive. The complaint names Sun Life, MFS Company, each of the MFS mutual funds and their registrants, and John Does 1-100.

The Funds, and the Symbols for the respective Funds named below, are as follows:

MFS Capital Opportunities Fund (Nasdaq: MCOFX), (Nasdaq: MCOBX),

(Nasdaq: MCOCX), (Nasdaq: MFCRX), (Nasdaq: MCOTX), (Nasdaq: EACOX),

(Nasdaq: EBCOX), (Nasdaq: ECCOX), (Nasdaq: MCOIX)

MFS Core Growth Fund (Nasdaq: MFCAX), (Nasdaq: MFCBX), (Nasdaq:

MFCCX), (Nasdaq: MCFRX), (Nasdaq: MCRRX), (Nasdaq: MFCIX)

MFS Emerging Growth Fund (Nasdaq: MEGRX), (Nasdaq: MEGBX), (Nasdaq:

MFECX), (Nasdaq: MFERX), (Nasdaq: MEGRX), (Nasdaq: EAGRX), (Nasdaq:

EBEGX), (Nasdaq: ECEGX), (Nasdaq: MFEGX), (Nasdaq: MFEIX)

MFS Growth Opportunities Fund (Nasdaq: MGOFX), (Nasdaq: MGOBX

MFS Large Cap Growth Fund (Nasdaq: MCGAX), (Nasdaq: MCGBX)

MFS Managed Sectors Fund (Nasdaq: MMNSX), (Nasdaq: MSEBX), (Nasdaq:

MMNCX)

MFS Mid Cap Growth Fund (Nasdaq: OTCAX), (Nasdaq: OTCBX), (Nasdaq:

OTCCX), (Nasdaq: MMCRX), (Nasdaq: MCPRX), (Nasdaq: EAMCX), (Nasdaq:

EBCGX), (Nasdaq: ECGRX), (Nasdaq: OTCIX)

MFS New Discovery Fund (Nasdaq: MNDAX), (Nasdaq: MNDBX), (Nasdaq:

MNDCX), (Nasdaq: MFNRX), (Nasdaq: MNDRX), (Nasdaq: EANDX), (Nasdaq:

EBNDX), (Nasdaq: ECNDX), (Nasdaq: MNDIX)

MFS New Endeavor Fund (Nasdaq: MECAX), (Nasdaq: MECBX), (Nasdaq:

MECCX), (Nasdaq: MNERX), (Nasdaq: MENRX), (Nasdaq: MECIX)

MFS Research Fund (Nasdaq: MFRFX), (Nasdaq: MFRBX), (Nasdaq: MFRCX),

(Nasdaq: MFRRX), (Nasdaq: MSRRX), (Nasdaq: EARFX), (Nasdaq: EBRFX),

(Nasdaq: ECRFX)

MFS Strategic Growth Fund (Nasdaq: MFSGX), (Nasdaq: MSBGX), (Nasdaq:

MFGCX), (Nasdaq: MSGRX), (Nasdaq: MSTRX), (Nasdaq: EASGX), (Nasdaq:

EBSGX), (Nasdaq: ECSGX), (Nasdaq: MSGIX)

MFS Technology Fund (Nasdaq: MTCAX), (Nasdaq: MTCBX), (Nasdaq: MTCCX),

(Nasdaq: MTQRX), (Nasdaq: MTERX), (Nasdaq: MTCIX)

Massachusetts Investors Growth Stock (Nasdaq: MIGFX), (Nasdaq: MIGBX),

(Nasdaq: MIGDX), (Nasdaq: MIGRX), (Nasdaq: MIRGX), (Nasdaq: EISTX),

(Nasdaq: EMIVX), (Nasdaq: EMICX), (Nasdaq: MGTIX)

MFS Mid Cap Value Fund (Nasdaq: MVCAX), (Nasdaq: MCBVX), (Nasdaq:

MVCCX), (Nasdaq: MMVRX), (Nasdaq: MCVRX), (Nasdaq: EACVX), (Nasdaq:

EBCVX), (Nasdaq: ECCVX), (Nasdaq: MCVIX)

MFS Research Growth and Income Fund (Nasdaq: MRGAX), (Nasdaq: MRGBX),

(Nasdaq: MRGCX), (Nasdaq: MGIRX), (Nasdaq: MRERX), (Nasdaq: MRGRX)

MFS Strategic Value Fund (Nasdaq: MSVTX), (Nasdaq: MSVCX), (Nasdaq:

MQSVX), (Nasdaq: MSVRX), (Nasdaq: MVSRX), (Nasdaq: EASVX), (Nasdaq:

EBSVX), (Nasdaq: ECSVX), (Nasdaq: MSVLX), (Nasdaq: MISVX)

MFS Total Return Fund (Nasdaq: MSFRX), (Nasdaq: MTRBX), (Nasdaq:

MTRCX), (Nasdaq: MFTRX), (Nasdaq: MTRRX), (Nasdaq: EATRX), (Nasdaq:

EBTRX), (Nasdaq: ECTRX), (Nasdaq: MTRIX)

MFS Union Standard Equity Fund (Nasdaq: MUEAX), (Nasdaq: MUSBX),

(Nasdaq: MUECX), (Nasdaq: MUSEX)

MFS Utilities Fund (Nasdaq: MMUFX), (Nasdaq: MMUBX), (Nasdaq: MMUCX),

(Nasdaq: MMURX), (Nasdaq: MURRX), (Nasdaq: MMUIX)

MFS Value Fund (Nasdaq: MEIAX), (Nasdaq: MFEBX), (Nasdaq: MEICX),

(Nasdaq: MFVRX), (Nasdaq: MVRRX), (Nasdaq: EAVLX), (Nasdaq: EBVLX),

(Nasdaq: ECVLX), (Nasdaq: MEIIX)

Massachusetts Investors Trust (Nasdaq: MITTX), (Nasdaq: MITBX),

(Nasdaq: MITCX), (Nasdaq: MITRX), (Nasdaq: MIRTX), (Nasdaq: EAMTX),

(Nasdaq: EBMTX), (Nasdaq: ECITX), (Nasdaq: MITIX)

MFS Aggressive Growth Allocation Fund (Nasdaq: MAAGX), (Nasdaq:

MBAGX), (Nasdaq: MCAGX), (Nasdaq: MAARX), (Nasdaq: MAWAX), (Nasdaq:

EAGTX), (Nasdaq: EBAAX), (Nasdaq: ECAAX), (Nasdaq: MIAGX)

MFS Conservative Allocation Fund (Nasdaq: MACFX), (Nasdaq: MACBX),

(Nasdaq: MACVX), (Nasdaq: MACRX), (Nasdaq: MCARX), (Nasdaq: ECLAX),

(Nasdaq: EBCAX), (Nasdaq: ECACX), (Nasdaq: MACIX)

MFS Growth Allocation Fund (Nasdaq: MAGWX), (Nasdaq: MBGWX), (Nasdaq:

MCGWX), (Nasdaq: MGARX), (Nasdaq: MGALX), (Nasdaq: EAGWX), (Nasdaq:

EBGWX), (Nasdaq: ECGWX), (Nasdaq: MGWIX)

MFS Moderate Allocation Fund (Nasdaq: MAMAX), (Nasdaq: MMABX),

(Nasdaq: MMACX), (Nasdaq: MAMRX), (Nasdaq: MARRX), (Nasdaq: MAMDX),

(Nasdaq: EBMDX), (Nasdaq: ECMAX), (Nasdaq: MMAIX)

MFS Bond Fund (Nasdaq: MFBFX), (Nasdaq: MFBBX), (Nasdaq: MFBCX),

(Nasdaq: MFBRX), (Nasdaq: MBRRX), (Nasdaq: EABDX), (Nasdaq: EBBDX),

(Nasdaq: ECBDX, (Nasdaq: MBDIX)

MFS Emerging Markets Debt Fund (Nasdaq: MEDAX), (Nasdaq: MEDBX),

(Nasdaq: MEDCX), (Nasdaq: MEDIX)

MFS Government Limited Maturity Fund (Nasdaq: MGLFX), (Nasdaq: MGLBX),

(Nasdaq: MGLCX)

MFS Government Mortgage Fund (Nasdaq: MGMTX), (Nasdaq: MGTBX),

(Nasdaq: MGMIX)

MFS Government Securities Fund (Nasdaq: MFGSX), (Nasdaq: MFGBX),

(Nasdaq: MFGDX), (Nasdaq: MGSRX), (Nasdaq: MGVSX), (Nasdaq: EAGSX),

(Nasdaq: EBGSX), (Nasdaq: ECGSX)

MFS High Income Fund (Nasdaq: MHITX), (Nasdaq: MHIBX), (Nasdaq:

MHICX), (Nasdaq: EAHIX), (Nasdaq: EMHBX), (Nasdaq: EMHCX), (Nasdaq:

MHIIX), (Nasdaq: MHIRX)

MFS High Yield Opportunities Fund (Nasdaq: MHOAX), (Nasdaq: MHOBX),

(Nasdaq: MHOCX), (Nasdaq: MHOIX)

MFS Intermediate Investment Grade Bond Fund (Nasdaq: MGBFX), (Nasdaq:

MGBVX), (Nasdaq: MGBCX), (Nasdaq: MGBEX), (Nasdaq: MIBRX)

MFS Limited Maturity Fund (Nasdaq: MQLFX), (Nasdaq: MQLBX), (Nasdaq:

MQLCX), (Nasdaq: EALMX), (Nasdaq: EBLMX), (Nasdaq: ELDCX), (Nasdaq:

MLDRX)

MFS Research Bond Fund (Nasdaq: MRBFX), (Nasdaq: MRBBX), (Nasdaq:

MRBCX), (Nasdaq: EARBX), (Nasdaq: EBRBX), (Nasdaq: ECRBX), (Nasdaq:

MRBIX), (Nasdaq: MRBRX)

MFS Strategic Income Fund (Nasdaq: MFIOX), (Nasdaq: MIOBX), (Nasdaq:

MIOCX), (Nasdaq: MFIIX)

MFS Alabama Municipal Bond Fund (Nasdaq: MFALX), (Nasdaq: MBABX)

MFS Arkansas Municipal Bond Fund (Nasdaq: MFARX), (Nasdaq: MBARX)

MFS California Municipal Bond Fund (Nasdaq: MCFTX), (Nasdaq: MBCAX),

(Nasdaq: MCCAX)

MFS Florida Municipal Bond Fund (Nasdaq: MFFLX), (Nasdaq: MBFLX)

MFS Georgia Municipal Bond Fund (Nasdaq: MMGAX), (Nasdaq: MBGAX)

MFS Maryland Municipal Bond Fund (Nasdaq: MFSMX), (Nasdaq: MBMDX)

MFS Massachusetts Municipal Bond Fund (Nasdaq: MFSSX), (Nasdaq: MBMAX)

MFS Mississippi Municipal Bond Fund (Nasdaq: MISSX), (Nasdaq: MBMSX)

MFS Municipal Bond Fund (Nasdaq: MMBFX), (Nasdaq: MMBBX)

MFS Municipal Limited Maturity Fund (Nasdaq: MTLFX), (Nasdaq: MTLBX),

(Nasdaq: MTLCX)

MFS New York Municipal Bond Fund (Nasdaq: MSNYX), (Nasdaq: MBNYX),

(Nasdaq: MCNYX)

MFS North Carolina Municipal Bond Fund (Nasdaq: MSNCX), (Nasdaq:

MBNCX), (Nasdaq: MCNCX)

MFS Pennsylvania Municipal Bond Fund (Nasdaq: MFPAX), (Nasdaq: MBPAX)

MFS South Carolina Municipal Bond Fund (Nasdaq: MFSCX), (Nasdaq: MBSCX)

MFS Tennessee Municipal Bond Fund (Nasdaq: MSTNX), (Nasdaq: MBTNX)

MFS Virginia Municipal Bond Fund (Nasdaq: MSVAX), (Nasdaq: MBVAX), (Nasdaq: MVACX)

MFS West Virginia Municipal Bond Fund (Nasdaq: MFWVX), (Nasdaq: MBWVX)

MFS Emerging Markets Equity Fund (Nasdaq: MEMAX), (Nasdaq: MEMCX),

(Nasdaq: MEMIX), (Nasdaq: MEMBX)

MFS Global Equity Fund (Nasdaq: MWEFX), (Nasdaq: MWEBX), (Nasdaq:

MWECX), (Nasdaq: MWEIX), (Nasdaq: MGERX)

MFS Global Growth Fund (Nasdaq: MWOFX), (Nasdaq: MWOBX), (Nasdaq:

MWOCX), (Nasdaq: MWOIX), (Nasdaq: MGLRX)

MFS Global Total Return Fund (Nasdaq: MFWTX), (Nasdaq: MFWBX),

(Nasdaq: MFWCX), (Nasdaq: MFWIX), (Nasdaq: MGRRX)

MFS International Growth Fund (Nasdaq: MGRAX), (Nasdaq: MGRBX),

(Nasdaq: MGRCX), (Nasdaq: MQGIX)

MFS International New Discovery Fund (Nasdaq: MIDAX), (Nasdaq: MIDBX),

(Nasdaq: MIDCX), (Nasdaq: EAIDX), (Nasdaq: EBIDX), (Nasdaq: ECIDX),

(Nasdaq: MWNIX), (Nasdaq: MINRX)

MFS International Value Fund (Nasdaq: MGIAX), (Nasdaq: MGIBX),

(Nasdaq: MGICX), (Nasdaq: MINIX)

MFS Research International Fund (Nasdaq: MRSAX), (Nasdaq: MRIBX),

(Nasdaq: MRICX), (Nasdaq: EARSX), (Nasdaq: EBRIX), (Nasdaq: ECRIX),

(Nasdaq: MRSIX), (Nasdaq: MRIRX)

The Complaint alleges that defendants violated Sections 11 and 15 of the Securities Act of 1933; Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder; and Section 206 of the Investment Advisers Act of 1940. The Complaint charges that, throughout the Class Period, certain of the defendants failed to disclose that they improperly allowed certain favored investors to engage in "timing" of the Funds' securities. Timing is excessive, arbitrage trading undertaken to turn a quick profit and which ordinary investors are told that the funds police. Timing injures ordinary mutual fund investors -- who are not allowed to engage in such practices -- and is acknowledged as an improper practice by the Funds. In return for receiving extra fees from privileged investors, Sun Life and MFS Company, and its affiliates, allowed and facilitated timing in the Funds, to the detriment of class members, who paid, dollar for dollar, for improper profits made by these investors. These practices were undisclosed in the prospectuses of the Funds, which falsely represented that the Funds actively police against timing.

Plaintiff is represented by the law firm of Rabin, Murray & Frank LLP. Rabin, Murray & Frank LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States.

If you purchased or otherwise acquired any of the Funds described above, between December 15, 1998 and December 7, 2003 and sustained damages, you may, no later than February 9, 2004, move the Court to serve as lead plaintiff. To serve as lead plaintiff, however, you must meet certain legal requirements. You can join this class action as lead plaintiff online at www.rabinlaw.com. Contact plaintiff's counsel Eric J. Belfi or Gregory Linkh of Rabin Murray & Frank LLP to discuss this action, this announcement, or your rights or interests.



            

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