MFS Government  Markets  Income Trust  Announces  Preliminary  Results of Tender
Offer Contact: John Reilly 617-954-5305

For Immediate Release

BOSTON  (November 15, 2007) - MFS Government  Markets  Income Trust (NYSE:  MGF)
(the "Trust") today announced  preliminary results of its tender offer for 37.5%
of the Trust's  outstanding  common  shares of  beneficial  interest.  The offer
expired at midnight  Eastern Time on November 14, 2007.  All  conditions  of the
offer  have  been  satisfied,  including  shareholder  approval  at the  Trust's
November 1 annual meeting of the proposal to allow the Trust to use leverage.

The tender  offer was  oversubscribed.  Pursuant to the terms of the offer,  the
Trust will  repurchase  the maximum  number of shares covered by the offer using
the  proration  procedures  disclosed  in the  Trust's  tender  offer  materials
provided to shareholders. Below are the preliminary results of the tender offer.

A  total  of  24,642,493.2113  shares,  representing  approximately  48%  of all
outstanding  shares,  were properly  tendered and not  withdrawn.  No additional
shares were tendered under a notice of guaranteed  delivery.  In accordance with
the terms of the tender offer,  19,249,709 shares are expected to be repurchased
at the per-share  purchase  price of $7.12,  which is 99% of NAV per share as of
November  14,  2007.  Because  the tender  offer was  oversubscribed,  the Trust
expects to repurchase,  on a pro rata basis,  approximately  78.1% of the shares
properly tendered by each shareholder.

These results are approximate and preliminary and will be confirmed  within five
business days. The number of shares tendered reflects shares properly  tendered.
Proceeds of the tender offer are expected to be mailed to shareholders beginning
in the week of November 26, 2007.

MFS manages $204  billion in assets on behalf of more than 5 million  individual
and  institutional  investors  worldwide as of September  30, 2007.  The company
traces its origins to 1924 and the creation of America's first mutual fund.

This announcement is not a prospectus,  circular or representation  intended for
use in the  purchase  or sale of  Trust  shares.  Shares  of the  Trust  are not
FDIC-insured and are not deposits or other obligations of, or guaranteed by, any
bank. Shares of the Trust involve  investment risk,  including  possible loss of
principal.  For more  complete  information  about the Trust,  including  risks,
charges, and expenses, please see the Trust's annual and semi annual shareholder
report or contact your financial adviser.

The  Trust is a  closed-end  investment  product.  Shares  of the Trust are only
available  for  purchase/sale  on the  NYSE,  with  the  exception  of  the  MFS
California  Insured  Municipal  Fund which is available for purchase only on the
American  Stock  Exchange,  at the current  market price.  Shares may trade at a
discount to NAV.

                           MFS Investment Management
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