SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
EXCHANGE ACT OF 1934
FILED BY THE REGISTRANT [X] FILED BY A PARTY OTHER
THAN THE REGISTRANT [ ]
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CHECK THE APPROPRIATE BOX:
[ ] Preliminary Proxy Statement
[ ] Confidential for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to sec. 240.14a-11(c) or sec. 240.14a-12
MFS Series Trust I
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(Name of Registrant as Specified in its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
PAYMENT OF FILING FEE (CHECK THE APPROPRIATE BOX):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1) Title of each class of securities to which transaction applies:
2) Aggregate number of securities to which transaction applies:
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pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):
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[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
1) Amount previously paid:
2) Form, Schedule or Registration Statement No.:
3) Filing Party:
4) Date Filed:
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Massachusetts Financial Services Company
500 Boylston Street
Boston, MA 02116-3741
June 12, 2006
Dear Shareholder:
A Special Meeting of Shareholders ("Shareholders" Meeting") of the MFS(R)
Technology Fund (the "Fund"), a series of MFS(R) Series Trust I (the "Trust"),
will be held at the offices of the Trust, 500 Boylston Street, 24th Floor,
Boston, Massachusetts, on August 15, 2006 at 9:30 a.m., Eastern time.
You are being asked to vote on two proposals affecting the Fund. The first
is a proposal to approve a change to the Fund's sub-classification under the
Investment Company Act of 1940 from a "diversified company" to a "non-
diversified company." The second is a proposal to amend the Fund's fundamental
investment policy concerning concentration.
While you are, of course, welcome to join us at the Shareholders' Meeting
on August 15, 2006, most shareholders vote by telephone, over the Internet, or
by filling out, signing, and returning the enclosed proxy card.
Your vote makes a difference. No matter what the size of your investment,
your vote is important. The Trustees of the Fund recommend that you vote for
these proposals, but however you decide to vote, it is important that you take
the time to do so. By voting early, you can help save the Fund the expense of
additional mailings to solicit shareholder votes.
Information regarding the proposals is available in the proxy statement.
There are three convenient ways to vote: by telephone, over the Internet, or
by filling out, signing and returning the enclosed proxy card. Voting
instructions are provided on the proxy card.
If you have any questions, please contact your investment professional.
For questions regarding the proposals, please call the proxy solicitor, ADP/
Management Information Services Corporation, toll-free at 1 (877) 333-2372.
Thank you for your prompt vote.
Sincerely,
/s/ MARIA F. DWYER
Maria F. Dwyer
President
MFS(R) Family of Funds
MFS(R) TECHNOLOGY FUND
500 BOYLSTON STREET, BOSTON, MASSACHUSETTS 02116
NOTICE OF A SPECIAL MEETING OF SHAREHOLDERS
TO BE HELD ON AUGUST 15, 2006
A Special Meeting of Shareholders of MFS Technology Fund (the "Fund"), a series
of MFS Series Trust I, will be held at 500 Boylston Street, Boston,
Massachusetts 02116, at 9:30 a.m., Eastern time, on Tuesday, August 15, 2006,
for the following purposes:
ITEM 1. To approve a change to the Fund's sub-classification under the
Investment Company Act of 1940 from a diversified company to a
non-diversified company.
ITEM 2. To approve an amendment to the Fund's fundamental investment
policy concerning concentration.
ITEM 3. To transact such other business as may properly come before the
Meeting and any adjournments thereof.
THE TRUSTEES OF THE TRUST RECOMMEND
THAT YOU VOTE IN FAVOR OF ALL ITEMS.
Only the Fund's shareholders of record on June 5, 2006 will be entitled to
vote at the Fund's Meeting of Shareholders.
By order of the Board of Trustees
Susan S. Newton
Assistant Secretary and Assistant
Clerk
June 12, 2006
YOUR VOTE IS IMPORTANT. WE WOULD APPRECIATE YOUR PROMPTLY VOTING, SIGNING AND
RETURNING THE ENCLOSED PROXY SO THAT IT IS RECEIVED BY THE DATE OF THE SPECIAL
MEETING OR RECORDING YOUR VOTING INSTRUCTIONS BY TELEPHONE OR VIA THE INTERNET
BY 9:29 A.M., EASTERN TIME, ON THE DATE OF THE SPECIAL MEETING, WHICH WILL
HELP AVOID THE ADDITIONAL EXPENSE OF A SECOND SOLICITATION FOR YOUR FUND. THE
ENCLOSED ADDRESSED ENVELOPE REQUIRES NO POSTAGE AND IS PROVIDED FOR YOUR
CONVENIENCE.
MFS(R) TECHNOLOGY FUND
Proxy Statement
June 12, 2006
This Proxy Statement is furnished in connection with the solicitation of
proxies by and on behalf of the Board of Trustees (the "Board") of MFS Series
Trust I (the "Trust") to be used at the Meeting of Shareholders (the
"Meeting") of the MFS(R) Technology Fund (the "Fund"), a series of the Trust,
to be held at 9:30 a.m., Eastern time on August 15, 2006 at 500 Boylston
Street, Boston, Massachusetts 02116, for the purposes set forth in the
accompanying Notice of a Special Meeting of Shareholders (the "Notice"). If
the enclosed form of proxy is executed and returned, it nevertheless may be
revoked prior to its exercise by a signed writing filed with the proxy
tabulation agent, ADP/Management Information Services Corporation ("MIS"), 60
Research Road, Hingham, Massachusetts 02043, or delivered at the Meeting.
On June 5, 2006, the number of outstanding shares of each Class of the
Fund and the number of votes that each Class was entitled to vote were as
follows:
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MFS TECHNOLOGY FUND CLASS A CLASS B CLASS C CLASS I CLASS R
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Shares outstanding 4,717,683.337 4,279,452.027 1,271,563.402 333,341.591 301,107.489
Number of votes that class is entitled to
vote (net asset value X number of shares
outstanding) 46,563,534.54 40,654,794.26 12,054,421.05 3,373,416.90 2,950,853.39
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CLASS R1 CLASS R2 CLASS R3 CLASS R4 CLASS R5
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Shares outstanding 21,949.647 39,540.743 77,724.932 36,445.916 6,053.269
Number of votes that class is entitled to
vote (net asset value X number of shares
outstanding) 208,302.15 376,823.28 757,818.09 359,721.19 59,927.36
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Shareholders of record at the close of business on June 5, 2006 will be
entitled to one vote for each dollar of net asset value held on that date.
Each fractional dollar amount is entitled to a proportionate fractional vote.
Shareholders have the opportunity to submit their voting instructions via
the Internet by using a program provided by a third-party vendor retained by
the Fund, by automated telephone service or by mail using the enclosed proxy
card. Internet and telephone voting is available until 9:29 a.m., Eastern
time, on August 15, 2006.
The mailing address of the Trust and of the Fund is 500 Boylston Street,
Boston, Massachusetts 02116. Solicitation of proxies is being made by the
mailing of the Notice and this Proxy Statement with its enclosures on or about
June 12, 2006. In addition to soliciting proxies by mail, the Trustees of the
Trust and employees of Massachusetts Financial Services Company ("MFS"), the
Fund's investment adviser and administrator, may solicit proxies in person or
by telephone. At its own expense, the Fund has retained ADP, to aid in the
solicitation of instructions for registered and nominee accounts, for a fee
expected not to exceed $12,500 plus reasonable out-of-pocket expenses for
mailing. The expenses of the preparation of the proxy statement and related
materials, including printing and delivery costs, are borne by the Fund.
A copy of the Fund's most recent annual report and semi-annual report may
be obtained without charge by contacting MFS Service Center, Inc., the Fund's
transfer and shareholder servicing agent, at 500 Boylston Street, Boston,
Massachusetts 02116, or by telephoning toll-free (800) 225-2606.
ITEM 1 -- PROPOSAL TO CHANGE THE FUND'S SUBCLASSIFICATION
The Board has approved, and recommends that shareholders of the Fund
approve, changing the Fund from a "diversified company" to a "non-diversified
company." As a "diversified company" under Section 5(b) of the Investment
Company Act of 1940 Act, as amended (the "1940 Act"), the Fund must have at
least 75% of the value of its total assets in cash and cash items (including
receivables), government securities, securities of other investment companies,
and other securities (the "75% basket"). For purposes of the 75% basket, the
Fund may not count securities of a single issuer that account for more than 5%
of the Fund's total assets or that constitute more than 10% of such issuer's
outstanding voting securities as "other securities." As to the remaining 25%
of the Fund's total assets, there is no limitation on the amount of assets the
Fund may invest in a single issuer.
For example, currently, if the Fund seeks to make an investment that will
cause its ownership of an issuer to constitute 6% of the Fund's total assets,
because the Fund is a "diversified company" that position would be excluded
from the 75% basket. In addition, if the Fund's acquisition of an issuer's
shares causes the Fund to hold more than 10% of an issuer's outstanding voting
securities, that position would likewise be excluded from the 75% basket. This
restriction is designed to prevent funds that hold themselves out as
diversified from being tied too closely to the success of one or a few
issuers. In addition, the restriction is designed to prevent such funds from
controlling portfolio companies.
Conversely, the 1940 Act places no limits on a "non-diversified company"
in this regard.
The Fund's sub-classification as a "diversified company" cannot be changed
without shareholder approval. If shareholders approve the Proposal, the Fund
will no longer be required to comply with the diversification standards
outlined above. As a result, the Fund will be permitted to invest a relatively
large percentage of its assets in a single issuer or a small number of
issuers. MFS has advised the Board that changing the Fund's sub-classification
to "non-diversified" would allow the Fund's portfolio manager greater
flexibility in pursuing the Fund's investment objective. MFS believes that
there are a number of technology companies that present opportunities for
growth. If the Fund is "non-diversified," the portfolio manager will have the
flexibility to make larger investments in technology companies he considers
attractive. While investing a larger portion of the Fund's assets in the
stocks of fewer technology companies may prove beneficial when such stocks
outperform the market, larger investments in the stocks of fewer technology
companies will also magnify any negative or under-performance by such stocks.
In general, because the Fund's performance may become more closely tied to the
value of a single issuer or a small number of issuers, it may become more
volatile than the performance of more diversified funds. However, MFS believes
these additional risks are outweighed by the potential for improved
performance.
Approval of this proposal will not affect the Fund's ability or
requirement to comply with the diversification and other requirements of the
Internal Revenue Code of 1986, as amended (the "Code"), applicable to
regulated investment companies so that the Fund will not be subject to U.S.
federal income taxes on its net investment income. In this regard, the
applicable diversification requirements imposed by the Code provide that the
Fund must diversify its holdings so that at the end of each quarter of the
Fund's taxable year (i) at least 50% of the market value of the Fund's total
assets is represented by cash and cash items, U.S. government securities, the
securities of other regulated investment companies and other securities, with
such other securities of any one issuer limited for purposes of this
calculation to an amount not greater than 5% of the value of the Fund's total
assets and not more than 10% of the outstanding voting securities of such
issuer, and (ii) not more than 25% of the value of the Fund's total assets is
invested in (x) the securities of any one issuer or of two or more issuers
which the Fund controls and which are engaged in the same, similar, or related
trades or businesses (other than U.S. government securities or the securities
of other regulated investment companies) or (y) in the securities of one or
more publicly traded partnerships.
REQUIRED VOTE
Approval of this matter will require the vote of (i) 67% or more of the
outstanding voting securities of the Fund present at the Meeting, if the
holders of more than 50% of the outstanding voting securities of the Fund are
present or represented by proxy or (ii) more than 50% of the outstanding
voting securities of the Fund, whichever is less.
THE TRUSTEES OF THE TRUST UNANIMOUSLY RECOMMEND THAT THE SHAREHOLDERS OF
THE FUND VOTE TO APPROVE THIS PROPOSAL.
ITEM 2 -- PROPOSAL TO AMEND THE FUND'S FUNDAMENTAL INVESTMENT POLICY
CONCERNING CONCENTRATION
The Board has approved, and recommends that shareholders of the Fund
approve, an amendment to the Fund's concentration policy. Under the 1940 Act,
a fund must recite any policy to concentrate its investments in securities of
issuers in a particular industry or group of industries in the fund's
prospectus. Any change to this policy requires shareholder approval. While the
1940 Act does not define what constitutes "concentration" in an industry, the
staff of the Securities and Exchange Commission takes the position that
investment of more than 25% of a fund's assets in any one industry or group of
industries constitutes concentration. If a fund concentrates in a particular
industry or group of industries, it must have more than 25% of its assets
invested in that industry or group of industries. The Fund currently has a
fundamental investment policy not to concentrate its investments in a
particular industry.
Under normal market conditions, the Fund invests at least 80% of its net
assets in common stocks and related securities, such as preferred stock,
convertible securities and depositary receipts, of companies that MFS believes
have above average growth potential and will benefit from technological
advances and improvements (the Fund's "name policy"). These companies are in
such fields as computer software and hardware, semiconductors, minicomputers,
peripheral equipment, scientific instruments, telecommunications,
pharmaceuticals, environmental services, chemicals, synthetic materials,
defense and commercial electronics, data storage and retrieval, biotechnology,
and health care and medical supplies.
The Fund's current fundamental investment policy with respect to industry
concentration states:
"The Fund may not purchase any securities of an issuer in a
particular industry if as a result 25% or more of its total
assets (taken at market value at the time of purchase) would
be invested in securities of issuers whose principal business
activities are in the same industry."
The proposed fundamental investment policy with respect to industry
concentration that you are asked to approve states:
"The Fund may not purchase any securities of an issuer in a
particular industry if as a result 25% or more of its total
assets (taken at market value at the time of purchase) would
be invested in securities of issuers whose principal business
activities are in the same industry, provided however, that
the Fund will invest at least 25% of its total assets in the
securities of issuers principally engaged in offering, using,
or developing products, processes, or services that will
provide or will benefit significantly from technological
advances and improvements."
For purposes of this policy, MFS considers an issuer to be principally
engaged in offering, using, or developing products, processes, or services
that will provide or will benefit significantly from technological advances
and improvements if (i) at least 50% of any issuer's assets, income, sales, or
profits are committed to, or derived from, such activities, or (ii) a third
party has given the issuer an industry or sector classification consistent
with such activities.
The change in concentration policy is intended to provide the portfolio
manager of your Fund with additional flexibility in selecting investments in
companies, fields and industries that MFS considers to be principally engaged
in offering, using or developing products, processes or services that will
provide or benefit significantly from technological advances and improvements
("technology companies"). MFS believes that there are a number of companies
engaged in these activities that present opportunities for growth. If the Fund
is permitted to concentrate its assets in technology companies within a
particular industry, MFS believes that the portfolio manager may be able to
take advantage of investment opportunities that would otherwise be prohibited.
As noted above, under normal circumstances, the Fund already invests at
least 80% of its net assets in common stocks and related securities that MFS
believes will benefit from technological advances and improvements. Thus, the
Fund's performance currently is, and will continue to be, tied to the
performance of issuers in a limited number of industries, which may react
similarly to market, economic, political or regulatory conditions and
developments. If shareholders approve the Proposal, the Fund will be permitted
to invest a relatively large percentage of its assets in technology companies
within a single industry (e.g., electronics). While investing a larger portion
of the Fund's assets in the stocks of technology companies in a single
industry may prove beneficial when stocks in that industry outperform the
market, larger investments in stocks in a single industry will also magnify
any negative or under-performance by such stocks. As a result, the fund's
performance could be more volatile than the performance of more broadly
diversified funds. However, MFS believes these additional risks are outweighed
by the potential for improved performance. The price of technology stocks can
also be very volatile, especially over the short-term, due to the rapid pace
of product change and technological developments. Issuers doing business in
the technology area are subject to significant competitive pressures, such as
new market entrants, short product cycles, competition for market share and
falling prices and profits. Issuers doing business in the technology area also
face the risk that new services, equipment or technologies will not be
commercially successful or will rapidly become obsolete.
Please note that if the proposed changes to the fundamental investment
policy are approved by shareholders, the Trustees have approved corresponding
changes to the Fund's name policy, which is set forth above, so that the
Fund's name policy and the Fund's policy regarding concentration are
complementary. The Fund's new name policy, which will take effect only if the
Fund's shareholders approve the proposed fundamental investment policy, will
be:
The Fund invests, under normal market conditions, at least 80% of its net
assets in securities of issuers principally engaged in offering, using, or
developing products, processes, or services that will provide or will benefit
significantly from technological advances and improvements.
The Fund's investment objective and other fundamental investment policies
will not be affected by the proposed changes.
REQUIRED VOTE
Approval of this matter will require the vote of (i) 67% or more of the
outstanding voting securities of the Fund present at the Meeting, if the
holders of more than 50% of the outstanding voting securities of the Fund are
present or represented by proxy or (ii) more than 50% of the outstanding
voting securities of the Fund, whichever is less.
THE TRUSTEES OF THE TRUST UNANIMOUSLY RECOMMEND THAT THE SHAREHOLDERS OF
THE FUND VOTE TO APPROVE THIS PROPOSAL.
FUND INFORMATION
This section provides certain information about the Fund, including
information about its investment adviser, principal underwriter and
administrator, and the identity of persons holding more than 5% of the
outstanding shares of any class of the Fund.
INVESTMENT ADVISER, PRINCIPAL UNDERWRITER AND ADMINISTRATOR
The Fund's investment adviser and administrator is MFS, a Delaware
corporation with offices at 500 Boylston Street, Boston, Massachusetts 02116.
The Fund's principal underwriter is MFS Fund Distributors, Inc. ("MFD"), a
Delaware corporation with offices at 500 Boylston Street, Boston,
Massachusetts 02116. MFS is a majority owned subsidiary of Sun Life of Canada
(U.S.) Financial Services Holdings, Inc., which in turn is a majority-owned
subsidiary of Sun Life Financial (U.S.) Holdings, Inc., 500 Boylston Street,
Boston, Massachusetts 02116, which in turn is a wholly-owned subsidiary of Sun
Life Assurance Company of Canada-U.S. Operations Holdings, Inc., One Sun Life
Executive Park, Wellesley Hills, Massachusetts 02481 ("Sun Life U.S.
Operations"). Sun Life U.S. Operations is a wholly-owned subsidiary of Sun
Life Financial Corp., 150 King Street West, Toronto, Canada MSH 1J9, which in
turn is a wholly-owned subsidiary of Sun Life Financial Inc.
INTERESTS OF CERTAIN PERSONS
Schedule A attached hereto sets forth, as of June 5, 2006, to the best
knowledge of the Fund, the shareholders who beneficially owned more than 5% of
the outstanding shares of each class of the Fund.
FURTHER INFORMATION ABOUT VOTING AND THE MEETING
MANNER OF VOTING PROXIES
All proxies received by management will be voted on all matters presented
at the Meeting, and if not limited to the contrary, will be voted FOR the
proposal to change the Fund's subclassification and FOR the proposal to change
the Fund's concentration policy.
All proxies received, including proxies that reflect (i) broker non-votes
(i.e., shares held by brokers or nominees as to which (a) instructions have
not been received from the beneficial owners or the persons entitled to vote,
and (b) the broker or nominee does not have discretionary voting power on a
particular matter), (ii) abstentions or (iii) the withholding of authority to
vote, will be counted as shares that are present on a particular matter for
purposes of determining the presence of a quorum for that matter. A majority
of the Fund's outstanding shares entitled to be cast at the Meeting that are
present in person or represented by proxy constitutes a quorum. With respect
to each proposal, broker non-votes, abstentions and withholding authority to
vote all will have the effect of a vote AGAINST the applicable proposal.
The Fund will reimburse the record holders of its shares for their
expenses incurred in sending proxy material to and obtaining voting
instructions from beneficial owners.
The Fund knows of no other matters to be brought before the Meeting. If,
however, because of any unexpected occurrence, any matters properly come
before the Meeting, it is the Fund's intention that proxies not limited to the
contrary will be voted in accordance with the judgment of the persons named in
the enclosed form of proxy.
SOLICITATION OF PROXIES
The procedures for voting proxies solicited by telephone or submitted by
the Internet or by automated telephone service are designed to authenticate
shareholders' identities, to allow them to authorize the voting of their
shares in accordance with their instructions and to confirm that their
instructions have been properly recorded. If these procedures were subject to
a successful legal challenge, such votes would not be counted at the meeting
of shareholders. The Fund is unaware of any such challenge at this time.
If shareholders' proxies are solicited by telephone, shareholders will be
called at the phone number that the Fund (or a shareholder's financial
intermediary) has in its records for their accounts, and will be asked for
their Social Security number or other identifying information. The
shareholders will then be given an opportunity to authorize proxies to vote
their shares at the meeting of shareholders in accordance with their
instructions. To ensure that the shareholders' instructions have been recorded
correctly, they will also receive a confirmation of their instructions in the
mail. A special toll-free number will be available in case the information
contained in the confirmation is incorrect.
INSTRUCTIONS FOR VOTING PROXIES
The giving of a proxy will not affect a shareholder's right to vote in
person should the shareholder decide to attend the Meeting. To vote by mail,
please mark, sign, date and return the enclosed proxy card following the
instructions printed on the card. To use the Internet, please access the
Internet address listed on your proxy card and follow the instructions on the
website. To record your voting instructions via automated telephone service,
please call the toll-free number listed on the enclosed proxy card.
Shareholders voting via the Internet should understand that there may be costs
associated with electronic access, such as usage charges from Internet access
providers and telephone companies, that must be borne by the shareholders.
SUBMISSION OF PROPOSALS
The Fund is part of a Massachusetts business trust, and as such is not
required to hold annual meetings of shareholders. However, the Trustees may
from time to time schedule special meetings. Shareholder proposals for
inclusion in a Fund's proxy statement for any subsequent meeting must be
received by the applicable Fund a reasonable period of time prior to any such
meeting.
ADDITIONAL INFORMATION
Only one copy of this Proxy Statement may be mailed to a household, even
if more than one person in a household is a Fund shareholder of record, unless
the Fund has received contrary instructions from one or more of the
shareholders. If you need additional copies of this Proxy Statement and you
are the holder of record of your shares, please contact MFS Service Center,
Inc. at 1-800-637-2304. If your shares are held in broker street name please
contact your financial intermediary to obtain additional copies of this proxy
statement. If in the future you do not want the mailing of proxy statements to
be combined with those for other members of your household, or if you are
receiving multiple copies of this Proxy Statement and want the mailings to be
combined with those for other members of your household, contact MFS Service
Center, Inc. in writing at 500 Boylston Street, Boston, Massachusetts 02116,
or by telephone at 800-637-2304, or contact your financial intermediary.
IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY
June 12, 2006
SCHEDULE A
INTERESTS OF CERTAIN PERSONS
As of June 5, 2006, to the best knowledge of the Fund, the following
shareholders beneficially owned more than 5% of the outstanding shares of any
class of the Fund.
NUMBER OF
OUTSTANDING SHARES
TITLE OF NAME AND ADDRESS OF BENEFICIALLY PERCENT OF
CLASS BENEFICIAL SHAREHOLDER OWNED CLASS
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C Merrill Lynch Pierce Fenner & Smith, Inc. 86,262.369 6.78%
For the Sole Benefit of its Customers
4800 Deer Lake Dr. E
Jacksonville, FL 32246
I TRS MFS Def Contribution Plan 304,937.593 91.47%
c/o Mark Leary
MFS Investment Management, Inc.
500 Boylston Street, 6\t/\h/ Floor
Boston, MA 02116
I TRS MFS 401k Plan 26,661.833 7.99%
c/o Mark Leary
MFS Investment Management, Inc.
500 Boylston Street, 6\t/\h/ Floor
Boston, MA 02116
R Arizona Machinery Employees PSP 90,643.086 30.10%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R 403b Thrift Plan of Catholic Charities 46,998.555 15.60%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R Chou Chemical Profit Sharing Plan 23,958.399 7.95%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R1 Stammer, McKnight, Barnum & Bailey 7,116.051 32.41%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R1 Massachusetts Financial Services Co. 6,242.197 28.44%
Attn: Thomas Hastings, 9\t/\h/ Floor
500 Boylston St.
Boston, MA 02116
R1 Obarski Machine & Tool Company 401(k) 2,797.535 12.74%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R1 Westmed Ambulance 401(k) 1,643.874 7.48%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R1 Palms 401(k) Plan 1,383.970 6.30%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R1 C.A.R.E., Inc. 401(k) PSP 1,400.170 6.37%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R2 Graphic Image, Inc. 401(k) Plan 27,071.604 68.46%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R2 Exigen Group 401(k) Plan 16,380.956 21.07%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R2 Massachusetts Financial Services Co. 6,242.197 15.79%
Attn: Thomas Hastings, 9\t/\h/ Floor
500 Boylston Street
Boston, MA 02116
R2 Pacific Peninsula Group 401(k) 4,147.575 10.48%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R2 Page Brake 401(k) Retirement Savings 6,217.714 7.99%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R2 Kilmer Wagner & Wise 401(k) Plan 5,956.393 7.66%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R2 Grangettos Farm & Garden Supply 401(k) 4,689.195 6.03%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R3 Motor Service, Inc. Profit Sharing 11,231.665 14.45%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R3 First Piedmont Federal Savings & Loan 9,238.089 11.88%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R3 Wesely-Thomas Enterprises, Inc. 401(k) 9,134.709 11.75%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R4 Acrison, Inc. 401(k) 25,354.092 69.56%
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R4 Massachusetts Financial Services Co. 6,053.269 16.61%
Attn: Thomas Hastings, 9\t/\h/ Floor
500 Boylston Street
Boston, MA 02116
R4 BCA Holding Company Ltd. 5,038.555 13.82%
401(k) Retirement Savings
Attn: C. Giorgi VP-RSI
MFS Investment Management
500 Boylston Street
Boston, MA 02116
R5 Massachusetts Financial Services Co. 6,053.269 100.00%
Attn: Thomas Hastings, 9\t/\h/ Floor
500 Boylston Street
Boston, MA 02116
SCT-PRX-6/06
23M
M F S(SM)
INVESTMENT MANAGEMENT(R)
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THREE EASY WAYS TO VOTE YOUR PROXY
Read the Proxy Statement and have the Proxy card at hand.
TELEPHONE: Call 1-888-221-0697 and follow the simple instructions.
INTERNET: Go to www.proxyweb.com and follow the on-line directions.
MAIL: Vote, sign, date and return your proxy by mail.
IF YOU VOTE BY TELEPHONE OR INTERNET, DO NOT MAIL YOUR PROXY.
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999 999 999 999 99 <<
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF MFS SERIES
TRUST I, ON BEHALF OF MFS TECHNOLOGY FUND
PROXY FOR THE MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 15, 2006
The undersigned hereby appoints Mses. Susan S. Newton, Tracy A. Atkinson, Susan
A. Pereira and Messrs. Mark N. Polebaum and Timothy M. Fagan and each of them
separately, proxies, with power of substitution, and hereby authorizes each of
them to represent, and to vote, as designated on the reverse side, at the
Meeting of Shareholders of the above-referenced Fund, on Tuesday, August 15,
2006 at 9:30 a.m., Boston time, and at any adjournments thereof, all of the
shares of the Fund that the undersigned would be entitled to vote if personally
present. THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED IN THE MANNER DIRECTED
HEREIN BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL
BE VOTED FOR ALL PROPOSALS. IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO
VOTE UPON SUCH OTHER MATTERS AS MAY PROPERLY COME BEFORE THE MEETING. THE
TRUSTEES RECOMMEND A VOTE FOR THE PROPOSALS ON THE REVERSE SIDE.
Date ________________________
THIS PROXY CARD IS VALID ONLY
WHEN SIGNED AND DATED
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Signature (PLEASE SIGN WITHIN BOX)
NOTE: Please sign exactly as your
name appears on this card. All joint
owners should sign. When signing as
executor, administrator, attorney,
trustee or guardian or as custodian
for a minor, please give full title
as such. If a corporation, please
sign in full corporate name and
indicate the signer's office. If a
partnership, sign in the partnership
name.
MFS Tech - fg
Please fill in box(es) as shown using black or blue ink or number 2 pencil. [X]
PLEASE DO NOT USE FINE POINT PENS.
YOUR TRUSTEES RECOMMEND THAT YOU VOTE FOR ALL ITEMS.
YOUR TRUSTEES RECOMMEND THAT YOU VOTE FOR ALL ITEMS.
FOR AGAINST ABSTAIN
ITEM 1. To approve a change to the Fund's [ ] [ ] [ ]
sub-classification under the Investment
Company Act of 1940 from a diversified
company to a non-diversified company.
ITEM 2. To approve an amendment to the Fund's [ ] [ ] [ ]
fundamental investment policy concerning
concentration.
PLEASE SIGN AND DATE ON THE REVERSE SIDE.
MFS Tech - fg