The Law Firm of Schiffrin & Barroway, LLP Announces That MFS Mutual Fund Investors Have Thirty Days Remaining to File Lead Plaintiff Motion -- MCOFX, MEGRX, MNDAX, MFSGX

Radnor, Pennsylvania, UNITED STATES


BALA CYNWYD, Pa., Jan. 10, 2004 (PRIMEZONE) -- MFS Mutual Fund investors have thirty (30) days to move for lead plaintiff in a securities fraud class action recently brought against MFS Mutual Funds, which are managed by Massachusetts Financial Services, a subsidiary of Sun Life Financial, Inc. (NYSE:SLF). The class period for this case is December 15, 1998 through December 8, 2003, inclusive (the "Class Period"). If you purchased any of the MFS Mutual Funds listed below between December 15, 1998 and December 8, 2003, inclusive and you wish to be a lead plaintiff in the case, you must move to serve as lead plaintiff by filing a motion in the United States District Court for the District of Massachusetts by February 9, 2004.

The following MFS Mutual Funds are subject to this lawsuit:

MFS Capital Opportunities Fund (NASDAQ:MCOFX), (NASDAQ:MCOBX), (NASDAQ:MCOCX), (NASDAQ:MFCRX), (NASDAQ:MCOTX), (NASDAQ:EACOX), (NASDAQ:EBCOX), (NASDAQ:ECCOX)

MFS Core Growth Fund (NASDAQ:MFCAX), (NASDAQ:MFCBX), (NASDAQ:MFCCX), (NASDAQ:MCFRX), (NASDAQ:MCRRX)

MFS Emerging Growth Fund (NASDAQ:MEGRX), (NASDAQ:MEGBX), (NASDAQ:MFECX), (NASDAQ:MFERX), (NASDAQ:MEGRX), (NASDAQ:EAGRX), (NASDAQ:EBEGX), (NASDAQ:ECEGX)

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)

MFS New Discovery Fund (NASDAQ:MNDAX), (NASDAQ:MNDBX), (NASDAQ:MNDCX), (NASDAQ:MFNRX), (NASDAQ:MNDRX), (NASDAQ:EANDX), (NASDAQ:EBNDX), (NASDAQ:ECNDX)

MFS New Endeavor Fund (NASDAQ:MECAX), (NASDAQ:MECBX), (NASDAQ:MECCX), (NASDAQ:MNERX), (NASDAQ:MENRX)

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)

MFS Technology Fund (NASDAQ:MTCAX), (NASDAQ:MTCBX), (NASDAQ:MTCCX), (NASDAQ:MTQRX), (NASDAQ:MTERX)

Massachusetts Investors Growth Stock (NASDAQ:MIGFX), (NASDAQ:MIGBX), (NASDAQ:MIGDX), (NASDAQ:MIGRX), (NASDAQ:MIRGX), (NASDAQ:EISTX), (NASDAQ:EMIVX), (NASDAQ:EMICX)

MFS Mid Cap Value Fund (NASDAQ:MVCAX), (NASDAQ:MCBVX), (NASDAQ:MVCCX), (NASDAQ:MMVRX), (NASDAQ:MCVRX), (NASDAQ:EACVX), (NASDAQ:EBCVX), (NASDAQ:ECCVX)

MFS Research Growth and Income Fund (NASDAQ:MRGAX), (NASDAQ:MRGBX), (NASDAQ:MRGCX), (NASDAQ:MGIRX), (NASDAQ:MRERX)

MFS Strategic Value Fund (NASDAQ:MSVTX), (NASDAQ:MSVCX), (NASDAQ:MQSVX), (NASDAQ:MSVRX), (NASDAQ:MVSRX), (NASDAQ:EASVX), (NASDAQ:EBSVX), (NASDAQ:ECSVX)

MFS Total Return Fund (NASDAQ:MSFRX), (NASDAQ:MTRBX), (NASDAQ:MTRCX), (NASDAQ:MFTRX), (NASDAQ:MTRRX), (NASDAQ:EATRX), (NASDAQ:EBTRX), (NASDAQ:ECTRX)

MFS Union Standard Equity Fund (NASDAQ:MUEAX), (NASDAQ:MUSBX), (NASDAQ:MUECX)

MFS Utilities Fund (NASDAQ:MMUFX), (NASDAQ:MMUBX), (NASDAQ:MMUCX), (NASDAQ:MMURX), (NASDAQ:MURRX)

MFS Value Fund (NASDAQ:MEIAX), (NASDAQ:MFEBX), (NASDAQ:MEICX), (NASDAQ:MFVRX), (NASDAQ:MVRRX), (NASDAQ:EAVLX), (NASDAQ:EBVLX), (NASDAQ:ECVLX)

Massachusetts Investors Trust (NASDAQ:MITTX), (NASDAQ:MITBX), (NASDAQ:MITCX), (NASDAQ:MITRX), (NASDAQ:MIRTX), (NASDAQ:EAMTX), (NASDAQ:EBMTX), (NASDAQ:ECITX)

MFS Aggressive Growth Allocation Fund (NASDAQ:MAAGX), (NASDAQ:MBAGX), (NASDAQ:MCAGX), (NASDAQ:MAARX), (NASDAQ:MAWAX), (NASDAQ:EAGTX), (NASDAQ:EBAAX), (NASDAQ:ECAAX)

MFS Conservative Allocation Fund (NASDAQ:MACFX), (NASDAQ:MACBX), (NASDAQ:MACVX), (NASDAQ:MACRX), (NASDAQ:MCARX), (NASDAQ:ECLAX), (NASDAQ:EBCAX), (NASDAQ:ECACX)

MFS Growth Allocation Fund (NASDAQ:MAGWX), (NASDAQ:MBGWX), (NASDAQ:MCGWX), (NASDAQ:MGARX), (NASDAQ:MGALX), (NASDAQ:EAGWX), (NASDAQ:EBGWX), (NASDAQ:ECGWX)

MFS Moderate Allocation Fund (NASDAQ:MAMAX), (NASDAQ:MMABX), (NASDAQ:MMACX), (NASDAQ:MAMRX), (NASDAQ:MARRX), (NASDAQ:EAMDX), (NASDAQ:EBMDX), (NASDAQ:ECMAX)

MFS Bond Fund (NASDAQ:MFBFX), (NASDAQ:MFBBX), (NASDAQ:MFBCX), (NASDAQ:MFBRX), (NASDAQ:MBRRX), (NASDAQ:EABDX), (NASDAQ:EBBDX), (NASDAQ:ECBDX)

MFS Emerging Markets Debt Fund (NASDAQ:MEDAX), (NASDAQ:MEDBX), (NASDAQ:MEDCX)

MFS Government Limited Maturity Fund (NASDAQ:MGLFX), (NASDAQ:MGLBX), (NASDAQ:MGLCX)

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

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:MEMBX), (NASDAQ:MEMCX), (NASDAQ:MEMIX)

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 charges Massachusetts Financial Services Company, MFS Investment Management, Sun Life Financial, Inc. MFS Series Trust I, MFS Series Trust II, MFS Series Trust III, MFS Series Trust IV, MFS Series Trust V, MFS Series Trust VI, MFS Series Trust VII, MFS Series Trust VIII, MFS Series Trust IX, MFS Series Trust X, MFS Series Trust XI, MFS Mutual Funds, and the Doe Defendants with violations of the Securities Act of 1933 (the "Securities Act"), the Securities Exchange Act of 1934 (the "Exchange Act"), the Investment Company Act of 1940 (the "Investment Company Act"), and for common law breach of fiduciary duties. The Complaint alleges that during the Class Period the defendants engaged in illegal and improper trading practices, in concert with certain institutional traders, which caused financial injury to the shareholders of the MFS Mutual Funds. According to the Complaint, the Defendants surreptitiously permitted certain favored investors, including the Doe Defendants, to illegally engage in "timing" of the MFS Mutual Funds whereby these favored investors were permitted to conduct short-term, "in and out" trading of mutual fund shares, despite explicit restrictions on such activity in the MFS Mutual Funds' prospectuses.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform, and has recovered in excess of a billion dollars on behalf of institutional and high net worth individual investors. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com.

If you are a member of the class described above, you may, not later than February 9, 2004, move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. You may retain Schiffrin & Barroway, or other counsel of your choice, to serve as your counsel in this action.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Stuart L. Berman, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbclasslaw.com.



        

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