MFS Government Markets Income Trust Announces Final Results of Tender Offer

For Immediate Release

BOSTON  (November 21, 2007) - MFS Government  Markets  Income Trust (NYSE:  MGF)
(the "Trust") today announced the final 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.

Because the tender offer was  oversubscribed,  not all shares that were tendered
were  accepted for payment by the Trust.  Pursuant to the  proration  procedures
disclosed in the Trust's tender offer materials  provided to  shareholders,  the
Trust  accepted for payment the maximum  number of shares  covered by the offer,
including all shares tendered pursuant to the odd-lot provision.  For shares not
tendered  pursuant to the odd-lot  provision,  the Trust  applied the  proration
percentage  (given below) and accepted for payment that percentage of the shares
tendered.  Those  shares that were  tendered  but not  accepted for payment will
continue  to  be  held  by  their  record  owners.   Shareholders  who  tendered
certificated  shares and whose  tenders  were  prorated  will  receive new share
certificates representing the balance of their shares.

A  total  of  25,217,658.2113  shares,  representing  approximately  49%  of all
outstanding shares, were properly tendered and not withdrawn. In accordance with
the terms of the tender  offer,  19,249,709  shares were accepted for payment at
the per-share  purchase  price of $7.12,  which is 99% of NAV as of November 14,
2007.  The Trust  accepted  for  payment on a pro rata basis 76.3% of the shares
properly tendered by each shareholder.  The aggregate proceeds to be distributed
by the Trust pursuant to the tender offer are $137,057,928.08.

The number of shares tendered reflects shares properly tendered and not
withdrawn and excludes fractional shares tendered.  Proceeds of the tender offer
are expected to be mailed to registered 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 at the current market price.  Shares may
trade at a discount to NAV.


                            MFS Investment Management
                       500 Boylston St., Boston, MA 02109
                                                                         12619.1
Contact:
SHAREHOLDERS OR ADVISORS: Rob Almeida, 617-954-7241
Or
MEDIA: John Reilly 617-954-5305