MFS Investment Management ("MFS"), announced that, at a meeting held today, the Board of Trustees of MFS Special Value Trust (the "fund"), (NYSE: MFV), a closed-end management investment company, approved a change to an investment policy of the fund. The fund currently has an investment policy that MFS normally will invest the fund's assets primarily in debt instruments. Effective on December 9, 2015, that policy will be changed to provide that MFS normally invests a majority of the fund's assets in debt instruments. The change allows the portfolio management team greater flexibility to increase the fund's exposure to equity securities. There are no other changes to the way the fund is being managed.

About MFS Investment Management
Established in 1924, MFS is an active, global asset manager with investment offices in Boston, Hong Kong, London, Mexico City, São Paulo, Singapore, Sydney, Tokyo and Toronto. We employ a uniquely collaborative approach to build better insights for our clients. Our investment approach has three core elements: integrated research, global collaboration and active risk management. As of November 30, 2015, MFS manages US$424.5 billion in assets on behalf of individual and institutional investors worldwide. Please visit mfs.com for more information.

Statements made in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in a fund’s performance, a general downturn in the economy, competition from other closed-end investment companies, changes in government policy or regulation, inability of a fund’s investment adviser to attract or retain key employees, inability of a fund to implement its investment strategy, inability of a fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.

The Fund is a closed-end fund. Common shares of the Fund are only available for purchase/sale on the NYSE at the current market price. Shares may trade at a discount to NAV.

MFS Investment Management

111 Huntington Ave., Boston, MA 02199

34684.1