� � � � �

� � � � �

� � � � �

� � � � �

� � � � �

� � � �

� � � �

� �

� � � � �

� � � � �

� � � � �

CORPORATE RESPONSIBILITY REPORT

| insure | invest | retire |

A Message from our CEO . . . . . . . . . . . . . . . . . . . . 1

About this Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Our Approach to Corporate Responsibility . . . . . . . 4

About MassMutual . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Ethics and Integrity . . . . . . . . . . . . . . . . . . . . . . . . . 10

Policyholders and Customers . . . . . . . . . . . . . . . . . 14

Employees and Field Force . . . . . . . . . . . . . . . . . . . 18

Respected Presence in our Communities . . . . . . . . 22

Efficient and Responsible Operations . . . . . . . . . . . 26

Recognition and Memberships . . . . . . . . . . . . . . . . 30

GRI Content Index . . . . . . . . . . . . . . . . . . . . . . . . . 31

Table of Contents

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives.

1

The information and achievements documented in thepages that follow are vitally important to MassMutual andmany of our stakeholders. As a financial services organiza-tion with nearly $500 billion in assets under managementand serving millions of people, we are keenly aware thatas a company, our actions and behaviors impact ourpolicyholders and customers, employees and agents, andultimately, our communities. Accordingly, trust, values,and integrity are the heart of our business.

Doing Business the Right WayWe all share a strong belief that doing business the rightway will continue to lead to long-term prosperity. Thatfundamental belief drives both MassMutual’s businessstrategy and our core operating principles. This commit-ment is reflected in our governance structure and valuesand ethics codes – which are outlined in this report – andwhich in many ways embody what we stand for and howwe operate as a company.

Valued EmployeesThe thousands of talented, hardworking and dedicatedpeople we employ across the world are key to our success.Their dedication, focus and hard work have helped thecompany thrive for over 156 years. To that end, we makeevery effort to maximize employee engagement, satisfac-tion, and well-being. To better gauge these integralcomponents of our continued growth, last year we askedemployees for their feedback on what they thought wewere doing right, and in what areas we could improve.More than 90 percent responded to the survey, and anoverwhelming majority of those respondents told us theybelieve the company has an outstanding future. And inareas in which employees suggested we could make thingseven better – such as finding new and creative ways torecognize their contributions – we listened and took

action. We will continue to routinely survey ouremployees to help ensure we advance this mutuallybeneficial engagement process well into the future.

Customer FocusWhile it’s important we look inward, we must also keep aconstant focus on the outside – meaning our customers.Everything we do must serve their interests. We believethe actions we take with regard to the outside world matterto our stakeholders, and we take pride in our role as aresponsible corporate citizen. This report details, amongother things, our actions and practices around responsiblesales practices, our philanthropic efforts, and our commit-ment to environmental stewardship.

Integrity and ethical behavior in all our business opera-tions are values on which we place the highest priority.Recently, I have agreed to serve as co-chair of the advi-sory board of RAND’s Center for Corporate Ethics, Lawand Governance. This role enables me to be furtherinvolved in the constantly evolving best practices incorporate governance. I am pleased by the work outlinedin this document – our very first comprehensive CorporateResponsibility Report – but I also understand that corpo-rate responsibility is not a finite activity. We are fullycommitted to sustaining the continuous hard work neededto meet the responsibility we have to our policyholdersand customers, our employees and agents, and the com-munities in which we do business.

Stuart H. ReeseChairman, President and CEOSeptember 30, 2007

A Message from our CEO

Stuart H. Reese, Chairman, President and Chief Executive Officer

2

Our Approach Ethics and Integrity Policyholders and Customers

3

In this, our inaugural Corporate Responsibility Report,we provide a comprehensive overview of our corevalues; our commitment to policyholders and customers;our employees and agents; the communities in which weoperate; and our efficient and responsible operations.This report builds on the information presented in our2004 Social Responsibility Report, which focused pre-dominantly on community and philanthropic initiatives.

We intend to document our future progress by publishinga corporate responsibility report every two years and post-ing updates on our Web site between reports. This reportcovers MassMutual’s sustainability efforts from January2006 through October 2007. Financial, environmental,human resources, and philanthropic data are presented forJanuary through December 31, 2006. We look to incorpo-rate our affiliates’ valuable efforts into future reports.

MassMutual applied the Global Reporting Initiative(GRI) 2006 Sustainability Reporting Guidelines (“G3”)in developing this report. The (“G3”) provides guidancefor organizations to use as the basis for disclosure abouttheir sustainability performance, and also providesstakeholders a universally-applicable, comparable frame-work in which to understand disclosed information.www.globalreporting.org/AboutGRI

The Application Level for this report is B; this applica-tion level was checked by a third-party (the ApplicationLevel provides a measure of the extent to which theGRI Guidelines have been applied in the preparationof a report).

In order to determine the priority issues to include in thisreport, we conducted a materiality analysis that consideredstakeholder issues as well as our strategic business objec-tives. As our reporting systems and processes becomemore robust, we will examine whether we can expandfuture reports to cover information requested by the GRIFinancial Services Sector Supplement. Due to this beingour benchmark year, we have decided not to seek anexternal audit of this report.

Learn more about MassMutual’s Corporate Responsibilityefforts at www.MassMutual.com/responsibility

About this Report

Employees and Field Force Our Communities Responsible Operations

4

A look down State Street from MassMutual’s headquarters in Springfield, Mass.MassMutual has called Springfield its home for more than 156 years.

MassMutual views corporate responsibility as an integralpart of its business strategy. Our strategic business objec-tives and corporate responsibility focus areas are one andthe same, namely: integrity, a focus on our policyholdersand customers, employees and communities, and respon-sible and efficient operations. Furthermore, our stake-holders expect us to model responsible behaviors and beresponsive to their concerns. For example, governance,privacy, philanthropy, and environmental stewardship aretypically top of mind to our consumers, employees, agentsand our communities. We work hard to ensure that theseand other issues are appropriately addressed through ourpolicies and operational practices.

Corporate responsibility has been a long-standing corevalue at MassMutual. We are striving toward a more com-plete and systemic review of our corporate responsibilityperformance. To that end, we are planning to enhance ourreporting processes. By more accurately measuring ourperformance, we will be in a better position to implementcontinuous improvement.

At present, the Community Responsibility Department atMassMutual is responsible for managing corporateresponsibility reporting. Throughout the organization,individual departments manage specific corporate respon-sibility programs and initiatives. For example, our ChiefCompliance Officer is responsible for developing andoverseeing effective ethics and compliance programs,policies and procedures across MassMutual FinancialGroup companies. Our Information Security Departmentis responsible for ensuring that data is protected and usedonly for its intended purpose.

As we look ahead toward our next reporting cycle, weplan to pursue improvements in our metrics – metrics thatcan be used to better measure and manage our corporateresponsibility performance into the future. We welcomeour stakeholders’ continued input as we progress inthis endeavor.

Our Approach to Corporate Responsibility

5

Organizational ProfileFounded in 1851, Massachusetts Mutual Life InsuranceCompany (MassMutual) is a mutually owned financialprotection, accumulation, and income managementcompany headquartered in Springfield, Mass. We are apremier provider of life insurance, disability incomeinsurance, long-term care insurance, annuities and retire-ment planning products, income management and otherproducts and services for individuals, business owners,and corporate and institutional markets.

Financial HighlightsMassMutual has grown and developed into a Fortune 500®

company and the largest by revenue in the Commonwealthof Massachusetts (Fortune magazine, April 30, 2007). Weserve our policyholders and customers through a strongfield network of more than 4,000 agents. And, in 2006,our dividend to eligible participating policyholders was arecord $1.23 billion.

MassMutual Financial Group’s Enterprise-wide Measures

In Millions

2006 2005 2004

Assets Under Management 1 $455,723 $395,881 $325,810

Premiums & Other Deposits 26,268 24,735 23,410

Consolidated Statutory Results2

In Millions

2006 2005 2004

Life Company Assets $122,155 $113,552 $108,216

Life Company Liabilities 115,128 106,864 101,925

Net Income 810 753 335

Net Income 810 753 651(excluding one-time class action reserve in 2004)

Total Revenue 18,020 17,425 18,705

For additional financial results, visit www.MassMutual.com.

Financial Strength Ratings3

MassMutual builds confidence among policyholders withoutstanding financial performance. Financial strengthratings are a key measure of a company’s ability tomeet its financial obligations to its policyholders, andMassMutual’s financial strength ratings are among thehighest of any company in any industry.

A.M. Best Company A++ (Superior)

Fitch Ratings AAA (Exceptionally Strong)

Moody’s Investors Service Aa1 (Excellent)

Standard & Poor’s AAA (Extremely Strong)

About MassMutual

1 Assets under management includes assets and certain external investment funds managed by our subsidiaries.

2 These consolidated statutory results of Massachusetts Mutual Life Insurance Company also include its U.S.-domiciled wholly owned subsidiaries: MML Bay State Life Ins. Co., C.M. Life Ins. Co., CM Benefit Ins. Co., and CM Assurance Co. Copies of the separate company audited statutory financial statements are available to policyholders upon written request.

3 This information is current as of Sept. 28, 2007. Ratings are subject to change. Ratings apply to MassMutual and its subsidiaries: C.M. Life Insurance Company and MML Bay State Life Insurance Company.

6

Our Businesses

Insurance

Retirement

Investment Management 5

International 6

Our Relationships

• Individuals• Businesses and business owners• Key business executives• Employee benefit plan sponsors• Agents

• Advisors, broker-dealers, wirehouses, consultants, third-party administrators

• Retirement plan sponsors: Businesses, labor unions, tax-exempt organizations

• Participants in employer-sponsored retirement plans

• Individuals and business owners

• Individual investors• Institutional investors• Advisors / Intermediaries

• Individuals• Key business executives• Corporations, businesses and institutions• Advisors / Intermediaries

Our Solutions

• Term and permanent life insurance• Disability income insurance• Long-term care insurance• Executive benefits and benefit funding vehicles• Trust services 4

• Defined benefit plans / consulting• Defined contribution / 401(k) plans• Nonqualified deferred compensation plans• Tax-exempt plans including 403(b) and 457• Taft-Hartley plans• Retirement Management Account• Deferred annuities• Immediate annuities• IRAs

• Mutual funds• Hedge funds of funds• Separately managed accounts• Investment management for institutions

and sub-advisory services• 529 college savings plans• Fixed income and absolute return strategies• Medium term notes

• Fixed and variable annuities – deferred and immediate

• Life insurance: Universal and variable• Whole life: Individual and group• Mutual funds• Defined contribution plans• Structured notes

MassMutual Financial Group At-A-Glance

4 Trust services provided by The MassMutual Trust Company, FSB, a wholly owned stock subsidiary of MassMutual.

5 Securities and investment advisory services offered through MML Investors Services, Inc., 1295 State Street, Springfield, Mass. 01111-0001. Investment management services offered by Babson Capital Management LLC, Boston/Springfield, Mass.; Baring Asset Management Limited, London, U.K.; Cornerstone Real Estate Advisers LLC, Hartford, Conn.; and OppenheimerFunds, Inc., New York, N.Y.

6 International products and services are not available in the United States.

7

Employees 7

across the MassMutual Financial Group

2006 2005

Domestic Insurance 1,375 1,276

International 8 2,430 2,372

Retirement & Financial Products 833 721

Investment Management 3,798 3,733

Corporate & Other 3,533 3,509

TOTAL 11,969 11,611

2006 2005 2004

Agents 9 4,099 3,733 3,786

Our Family of CompaniesBabson Capital Management LLC

Babson Capital Management LLC is a full-service invest-ment adviser that creates investment strategies and solu-tions for institutions and other sophisticated investors.With operations based in Boston and Springfield, Mass.,and Charlotte, N.C., and with regional offices across theU.S. and subsidiaries in London and Tokyo, BabsonCapital employs approximately 600 people.

Baring Asset Management Limited

Baring Asset Management Limited is an internationalinvestment management firm with investment skills, clients,and business locations spanning world markets. With morethan 100 investment professionals located in the world’smajor capital markets, the sole focus of the firm is to fulfillour clients’ objectives by providing top quality investmentproducts and superior service delivered by dedicated teamsof experienced and talented professionals.

Cornerstone Real Estate Advisers LLC

Cornerstone Real Estate Advisers LLC, MassMutual’sreal estate management and advisory firm, managesreal estate assets for insurance companies, public andcorporate pension plans, Taft-Hartley plans, endowments,and foundations.

MassMutual International LLC

Our global business subsidiary, MassMutual InternationalLLC, has expanded over the past decade through theacquisition of several well-established firms and nowconducts business in Japan, Taiwan, Hong Kong, Macau,Luxembourg and Chile. MassMutual International meetsthe needs of more than two million clients.

7 Full-time equivalent employees as of Dec. 31, 2006.

8 Includes staff and salaried sales representatives.

9 Number of agents holding a full-time career agent contract at the end of each year.

8

MML Investors Services, Inc.

MML Investors Services, Inc., a broker-dealer andinvestment adviser, offers investment products, moneymanagement programs, and financial planning servicesthat enable its registered representatives and investmentadviser representatives to help meet the complex financialneeds of their clients.

OppenheimerFunds, Inc.

OppenheimerFunds, Inc. has been helping investorsachieve their financial goals since 1960. A leading assetmanagement company, OppenheimerFunds and itscontrolled affiliates offer a broad range of products andservices to individuals, corporations and institutions.OppenheimerFunds has more than 2,500 employees atits corporate headquarters in New York City, its Denver-based service operation, and worldwide.

The MassMutual Trust Company, FSB

The MassMutual Trust Company, FSB offers a widerange of fiduciary services providing clients with lifelongsolutions for wealth accumulation and preservation,wealth transfer, and estate planning.

For additional information on the MassMutual FinancialGroup of companies, visit www.MassMutual.com.

Our StakeholdersMassMutual values its long-term relationships with primaryinternal and external stakeholders – policyholders andcustomers, employees, agents, community leaders,regulators, and ratings agencies.

Policyholders and Customers

MassMutual’s core focus has always been to help policy-holders and customers take the right steps to help securetheir financial futures. As a company, we believe that takingthe time to understand the needs of customers and helpingthem meet those needs effectively, instead of simply sellingproduct, will earn customer loyalty in the long run.

MassMutual works with LIMRA International (the LifeInsurance and Market Research Association) to administera monthly survey to our new life policyholders, annuitycontract holders and customers. Engaging LIMRA allowsMassMutual to maintain an independent approach to thiscustomer outreach. Survey participants are asked about thecustomer experience, specifically to rate “The service pro-vided by the agent,” “Our product descriptions and salesmaterials,” and other topics. The survey also allows fornarrative comments, which are regularly reviewed by thecompany’s compliance professionals. Our complianceexperts work with departments across the company andagents in the field to review, research, analyze, andrespond to our customers in a timely manner.

Within the Retirement Services Division, a Client AdvisoryCommittee helps gain insight into client experiences andexpectations, and to gather input and feedback on servicesand products. The committee is made up of RetirementServices’ clients representing a diversity of industry,geography, and business type and size.

9

Employees

We believe that when our employees at all levels feelengaged – when they are personally committed to the com-pany’s success – they are more productive, more conscien-tious, assume greater responsibility for business results,and take personal ownership for long-term success.

To that end, MassMutual worked with peer-selectedemployees, company executives, and senior leaders tocreate a clear set of principles that define how employeescan best work every day to help the company achieve itsstrategic objectives. Through these behaviors, called our“Winning Ways,,” we will be able to truly be what ourpolicyholders and customers expect.

Employee performance reviews, which directly impactcompensation decisions, take into account not onlywhether employees reach agreed-upon objectives, but howthey go about reaching those objectives – in other words,how well they model the Winning Ways behaviors.The Winning Ways are also being incorporated into keybusiness decisions such as hiring, performance manage-ment, and promotions.

Agents

At the heart of MassMutual’s insurance businesses is afield network of more than 4,000 trained and knowledge-able agents.

One of the ways MassMutual interacts with its agents isthrough the MassMutual Agents Association (AAX). TheAAX represents MassMutual agents’ collective concerns,suggestions, and needs with the home office. Among itsaccomplishments, the AAX has been successful in offer-ing advice on the design of new products and working onways to improve client services. Currently, there are nineAAX committees that communicate with home officedepartments, as well as agency representatives who bringagent concerns to the committees’ attention.

Communities

MassMutual’s ties to local communities are essential toits continued success, and a number of those relation-ships are outlined elsewhere in this report. One channelof interaction that deserves special mention is ourWomen’s Advisory Boards, which are established withthe support and assistance of the home office. TheseBoards are diverse groups of successful, influentialwomen assembled from agent communities. Boards helpattract, select, develop, and retain women agents, andassist in marketing more effectively to women. TheseBoards also help raise financial literacy among womenand girls through local events like financial seminars,charitable fundraisers, luncheons, speaking engagements,and support groups.

10

At MassMutual, our reputation is one of our most valu-able assets. Millions of customers trust us to help securetheir financial futures, and that’s a responsibility we takeseriously. We adhere to the letter and spirit of the lawsand regulations that govern our businesses. Also, we keepapprised of best practices in our industry and strive to goabove and beyond expectations to ensure that ourcustomers – and our reputation – are protected.

Our governance structure and compliance programs aredesigned to ensure that all employees, regardless of theirposition in the company, are held to the highest ethicalbusiness standards. Employees are required to act withintegrity in their daily interactions with policyholders,customers, and co-workers.

GovernanceGovernance Structure

We believe that the standard for ethics and integrityshould be set at the top, beginning with our Board ofDirectors. In February of each year, directors are nomi-nated by the Board’s Corporate Governance Committee tostand for election at the Annual Meeting in April. Thefull Board then votes to approve the nominees. Nomineesare selected based on character, judgment, business acu-men, and experience. As stated on the company’s publicWeb site, the Corporate Governance Guidelines providethat the Board and its committees conduct annual self-evaluations on their effectiveness and also have estab-lished performance criteria for the directors, whichinclude: attendance at, preparedness for, and participationin Board and Committee meetings; objectivity in exercis-ing business judgment; and candor toward other directors,

management, and professionals retained by the company,the Board, or Board committees.

The Corporate Governance Guidelines provideadditional information. www.MassMutual.com/mmfg/pdf/governance.pdf

The Rules and Regulations of the Board provide that atleast 75 percent of Board members must be independentdirectors and there must be at least 11 Board members.As of June 15, 2007, 13 of the 14 members are independ-ent directors (as defined by the test for independence setforth in the New York Stock Exchange Listed CompanyManual). Stuart H. Reese, who was named Chairman ofthe Board of Directors on Jan. 1, 2007, while continuingto serve as Chief Executive Officer and President ofMassMutual, is the company’s only non-independentdirector. Former non-executive Chairman James Birle wassubsequently named Lead Director of the Board.

The Corporate Governance Committee advises the Boardregarding changes to Board compensation and benefits,and reviews and recommends that the Board approveretainer fees and meeting fees for attendance at Boardand committee meetings. The Human ResourcesCommittee of the Board has oversight for compensationfor executives and senior executive employees. Thecommittee is responsible for establishing and reviewinga policy of compensation that motivates managementbased on factors including ethics, teamwork, technicalexpertise, and fairness. The Human Resources Committeealso oversees the company’s short-term and long-termincentive plans.

Directors, as well as officers of the company, are expect-ed to disclose any material conflicts between their owninterests and those of the company, and to recuse them-

Ethics and IntegrityAt MassMutual, success is measured not only by achieving results, but by theway in which those results are achieved. Ethics and integrity are at the core ofthe company’s values.

11

selves from discussing or voting on any such matter.All identified conflicts of interest are reviewed by thecompany’s legal officers to ensure compliance withconflict-of-interest statutes.

MassMutual conducts its business through a number ofsubsidiaries, each of which has a separate Board respon-sible for managing the subsidiary’s affairs for the benefit ofits shareholder or shareholders. Since the company is theultimate shareholder, the Board of Directors of the companyhas oversight responsibilities with respect to its subsidiaries.

Governance Input

MassMutual’s Board of Directors maintains frequent anddirect communication, including face–to–face conversations,with executive officers, senior officers employed in policy-making capacities, audit, legal and compliance officers, CEOsof company subsidiaries, and – as they may request – otheremployees. The Board values its open and honest relationshipwith senior management, and expects leaders to bring toBoard meetings those subordinate officers and employeeswho can provide insight into items being discussed.

Eligible insureds or holders of annuity contracts may attendthe company’s Annual Meeting. At the discretion of theChairman of the Board, matters raised by a member may bebrought before the meeting.

The Chief Compliance Officer (CCO) reports to the chair-man of the Audit Committee and also has a reportingrelationship to the General Counsel. This is an emergentbest practice that gives the CCO increased independenceand objectivity, as well as a direct line to the Board. Thereporting relationship of MassMutual’s CCO reflectsMassMutual’s commitment to open communicationbetween the company and the Board.

There is a Corporate Compliance Council comprised ofcompliance officers and representatives from each line of business, corporate unit and domestic and foreign sub-sidiaries. The members of the Compliance Council have astrong working relationship with the CCO, and assist in thedevelopment of effective ethics and compliance programs.

Ethics and ConductCorporate Business Ethics and Compliance Guide

The company has specific compliance policies set forth in acomprehensive Corporate Business Ethics and ComplianceGuide. The Guide outlines our standards on a range oftopics, including:

• employee conduct, including the company’s Code ofBusiness Conduct and Ethics for Directors, Officers and Employees;

• privacy and confidential information;

• ethical market conduct;

• conflicts of interest and;

• anti-money laundering.

The Guide also includes a section specifically aimed atinternational business conduct. MassMutual, its employees,agents, joint-venture partners, and others must strictly comply with the United States Foreign Corrupt PracticesAct of 1977.

New home office employees must undergo mandatory com-pliance training that entails a facilitated overview of theGuide and related policies by compliance personnel.

12

All employees annually must acknowledge their under-standing of the Guide and agree to comply with its content.Even temporary employees must sign off on a version ofthe Guide tailored to their needs. The Guide and other compliance manuals are available on the company intranet,as are the compliance manuals for three of our subsidiaries:Babson Capital Management LLC, MML Distributors LLCand MML Investors Services, Inc.

MassMutual Code of Business Conduct and Ethics

The MassMutual Code of Business Conduct and Ethicsapplies to all directors, officers and employees of thecompany and its subsidiaries. The Code provides guidingprinciples for appropriate business behavior and conduct atMassMutual. It is the responsibility of each individual notonly to comply personally with this Code, but also to be a rolemodel for others in observing the spirit as well as the letter ofthe code. Improper or illegal behavior is not justified or toler-ated in any circumstance. A full copy of the Code is availableat www.MassMutual.com/mmfg/pdf/employee_code.pdf. Thekey tenets of the Code include:

• We will adhere to the letter and spirit of laws, rulesand regulations.

• We will avoid conflicts of interest and even anappearance of a conflict of interest.

• We will protect and use properly all company assets.

• We will maintain accurate books and records.

• Corporate opportunities belong to the company.

• We will deal fairly with all of our stakeholders.

• We will protect the confidentiality of our information.

• We will report illegal or unethical behavior.

In addition, certain subsidiaries, divisions or departments ofMassMutual may develop additional policies, rules orprocedures, not inconsistent with this Code, with whichemployees must comply.

Additional Compliance Policies

Agents in the field are subject to the Producer ComplianceManual, which can be accessed through our secure FieldNetextranet site. FieldNet is dedicated to servicing and provid-ing information to agents. Additionally, agents must satisfyethics and compliance training which is conducted at thelocal agency level by the agency’s supervisory officers whogenerally ensure the agency’s compliance.

MassMutual’s detailed Business Courtesies and BusinessEntertainment Policy outlines clear rules around the provi-sion and acceptance of business gifts and business entertain-ment to and from external parties, including MassMutualemployees and producers. The Policy, which includes arecordkeeping requirement, is designed to ensure compli-ance with applicable regulatory requirements and to assistin managing conflicts of interest.

Statement of Respect

In addition to the codes and policies that set the standardfor business interactions, MassMutual also has a Statementof Respect that reflects MassMutual’s commitment to pro-viding all employees with a respectful work environment.It includes and explains our Equal Opportunity, HarassmentPrevention, and Diversity policies. Employees receive acopy of the Statement of Respect annually, along with acover letter from an executive officer emphasizing the strictenforcement of the Statement.

13

Obligation to Report

Employees are obligated to report known or suspected vio-lations of our ethical standards. To ensure employees areable to raise issues regarding possible ethics violations, thecompany has adopted the industry best practice of establish-ing a hotline maintained by an external third-party vendor.Employees can contact the hotline by phone or online toreport any ethics or compliance concerns or complaints onan anonymous or identified basis. In addition, employeesstill have the option of reporting potential violations on ananonymous or identified basis to their local complianceofficer, Human Resources Business Partner, or the ChiefCompliance Officer. Ethics reports are reviewed with theAudit Committee, giving employees a direct line to theBoard of Directors.

SocietyPublic Policy

MassMutual works with regulators, elected officials, andcommunity representatives at all levels of governmentalinstitutions to seek sound solutions to public problems. As amutual company, MassMutual first and foremost seeks pub-lic policies that are in the best interest of its policyholders.The company works to ensure that its policyholders’ inter-ests and the public interest are carefully balanced.

In all of our dealings, MassMutual takes an integrity-basedapproach to lobbying. While we do engage lobbyists, weprefer to bring our employees and associates who areexperts on an issue directly to Washington, D.C. to speakface-to-face with officials on matters of importance to thecompany. We absolutely do not solicit favors or favorabletreatment in exchange for campaign contributions.

Our political action committee, the Massachusetts MutualLife Insurance Company Political Action Committee

(MMPAC), supports our lobbying efforts in full compliancewith applicable law and all MMPAC contributions to candi-dates are fully disclosed on the Federal Election CommitteeWeb site (www.fec.gov). With a bipartisan strategy, MMPACis solely focused on supporting members of Congress whoare champions of our issues. MMPAC utilizes employees andagents from throughout the company to serve on an advisoryboard that regularly reviews candidate contributions to ensurethey meet strict giving criteria.

The company firmly believes that a financially knowledge-able public is critical to the nation’s well-being. To that end,we have:

• sponsored congressional educational symposiums on ourindustry and its products – including the unique needs ofwomen in retirement; and

• worked with Congress and the Securities and ExchangeCommission on simplified, easy-to-read disclosures formutual funds, pension, and 401(k) products.

MassMutual also supports Congress’ goal of enhancingAmerican workers’ retirement security by providing rele-vant and meaningful disclosure of retirement plan fees. As aleading 401(k) provider, MassMutual has publicly advocat-ed in favor of the appropriate disclosure of fees to plansponsors and participants for a number of years and remainscommitted to working with industry groups, Congress, andthe Department of Labor to improve fee disclosure.

14

At MassMutual, we understand that our daily responsibil-ity is to the policyholders and customers who put theirtrust in our ability to help them secure their financialfutures. Responsible sales practices, the development andpromotion of products and resources that address under-served markets, and respect for customer privacy are keytenets in meeting that daily responsibility.

The company’s needs-based selling approach (exempli-fied in its SpecialCareSM program serving the disability-or-other-special-needs market) has contributed toMassMutual’s history of financial success by helpingagents develop long-term client relationships.

The goal of developing these relationships is not withoutits challenges, including raising consumer awarenessaround the need for and importance of insurance, as wellas addressing regulatory obstacles particular to our indus-try. Our new national advertising campaign takes aim atraising awareness, urging consumers to bring insurance tothe front of their minds. Also, MassMutual stronglyendorses recently introduced legislation that would enactan optional federal charter enabling insurance companiesand agents to do business under one set of federal rules,while at the same time preserving state regulation forinsurance companies and agents who choose it. Thisoptional federal charter would give consumers greater andmore timely access to a wider range of products. Theywould also receive uniform consumer protection regard-less of where they live.

Product ResponsibilitySales Practices

MassMutual helps people meet their changing needs asthey move through each stage of their lives, from plan-ning and saving for retirement to receiving a reliablestream of income, and from insurance products for youngfamilies to providing estate benefits to heirs. Becausefinancial decisions can be daunting, MassMutual believesin the importance of building a relationship with eachclient based on trust and our agents’ willingness to under-stand his or her unique financial needs.

The company’s Corporate Business Ethics andCompliance Guide, available on our employee intranet,details ethical marketing conduct as well as companypolicy relating to privacy and confidential information.Also, our Compliance area drives the use of appropriatecustomer product disclosures and business practicesdesigned to ensure adherence with various state insurancedepartments, Securities and Exchange Commission(SEC), and the Financial Industry Regulatory Authority(FINRA, formerly the NASD) rules and regulations, aswell as company standards.

Policyholders and Customers

MassMutual has provided generations of protection for this Georgia family. Pictured hereis policyholder and beneficiary Marie Hilliard, with her great granddaughter, Abby.

15

MassMutual continues to provide women with specially tai-lored financial services and support, as exemplified by itsinnovative “Pearls of Wisdom®” educational video-basedfinancial seminar. Created specifically to help MMLInvestors Services, Inc. (MMLISI) registered representativeslead women through difficult financial decision-making,“Pearls of Wisdom” looks not only at facts and figures, butalso the emotions behind real-life situations faced bywomen of all ages, ethnicities, backgrounds, and incomelevels. The seminar uses 19 video-based stories, each fea-turing a woman discussing real-life issues of financial con-cern, followed by experienced commentary.

IMSA Membership

In 2007, MassMutual renewed its membership in theInsurance Marketplace Standards Association (IMSA), theprimary ethical market conduct compliance program for thelife insurance industry. IMSA qualification is tangible proofthat a company adheres to specific, stringent market con-duct principles in the sale and service of individual lifeinsurance, annuity, and long-term care products. For insur-ers to maintain IMSA member status, they must demon-strate that their ongoing business operations abide byIMSA’s Principles of Ethical Market Conduct. Every threeyears, insurers must undergo independent assessment of allbusiness operations by an impartial third party. MassMutualrecently completed this rigorous review of its marketing,sales, and compliance practices required to maintain IMSA qualification.

Other Memberships

MassMutual maintains memberships in organizations thatestablish and promote industry standards around ethicalbusiness conduct, including the Ethics Resource Center, theCompliance and Ethics Leadership Council, the Ethics andCompliance Officer Association, International Associationof Privacy Officers and the Association of Life InsuranceCounsel, Inc. Additionally, our CEO serves as co-chair of the advisory board for the LRN-RAND Center forCorporate Ethics, Law and Governance. MassMutual is a founding member of the New York Alliance AgainstInsurance Fraud, and a company representative sits on theBoard of Directors for the Coalition Against InsuranceFraud. MassMutual is also a member of the AmericanCouncil of Life Insurers, a trade association that providesconsumer information on products and policy issues of public interest, works closely with Congress and state insurance representatives, and helps expand awareness ofhow life insurers help American families attain financialand retirement security.

16

SpecialCareSM

The SpecialCare program is designed to help people with adisability or other special need, and their families, developcomprehensive strategies to address their lifetime financialrequirements. The American College, a nonprofit educa-tional institution that serves financial services professionals,conducts an exclusive Special Care Planner certificate pro-gram for MassMutual professionals to learn how to effec-tively provide consultation and support to individuals withdisabilities or other special needs, and to their families.And, once again in 2007, the SpecialCare program spon-sored Easter Seals Walk With Me events and DisabilityAwareness NightsTM at professional baseball stadiums incommunities across the country.

Disability Income Offer to Policyholders

Through ComPsych® GuidanceResources®, MassMutualoffers its disability income insurance customers an extensivearray of policyholder-assistance program resources. This pro-gram provides every MassMutual disability income policy-holder – before, during, and after a claim – with informationand support on topics such as elder care, child care and emo-tional well-being, as well as fitness and nutrition. Since 2005,more than 13,000 policyholders or family members havetapped into these services and, according to a September2006 study conducted by ComPsych®, respondents reported a98 percent satisfaction rate with the program.

Coverage for Breast Cancer Survivors

MassMutual continues to make life insurance coverageavailable for breast cancer survivors, updating its underwritingguidelines continually to reflect the positive long-termsurvival benefits of early detection and new treatments. Thecompany’s underwriting guidelines – revised in 2001, 2002and 2004 – take into consideration the vigilant screeningprograms that now detect many breast cancers earlier.MassMutual has more than a dozen risk categories today,compared to only four in 2000, resulting in coverage thatis more accessible.

Customer PrivacyAt MassMutual, we are committed to protecting and main-taining the confidentiality and security of our customers’nonpublic personal information. The nature ofMassMutual’s business sometimes requires that we collector share certain information about our customers with oth-ers. Any disclosure of customer information will only be tothe extent permitted by law and consistent with our privacypolicy. This policy is posted atwww.MassMutual.com/mmfg/global/legal.html

MassMutual maintains physical, electronic, and proceduralsafeguards that comply with legal standards to guard cus-tomers’ personal information. We also take proactive meas-ures to train our employees and agents and require them toprotect both company and customer data.

17

Prior to sharing customer information with third-party ven-dors or service providers, due diligence is conducted toensure that these parties have implemented informationsecurity standards that meet or exceed MassMutual stan-dards. We require anyone with whom we share customerinformation to protect it in accordance with MassMutualand applicable legal requirements.

Information Security at MassMutual

As systems and the use of technology expand across thedaily processes of servicing our customers and growing ourbusinesses, the need for heightened information security hasgrown. With the creation of modern data centers, the grow-ing use of the internet, and the advent of electronic viruses,Information Security has continued to expand and evolve toaddress these issues.

MassMutual protects the personal information of its customers and employees through the use of the latest inencryption technology and information security processes.

Our information security employees work to educate ouragents, regularly publishing information regarding agentresponsibility on our FieldNet extranet site and in agencypublications. It is the goal of the Information SecurityDepartment to provide education and raise awareness with-in the workforce and to help all staff members continuallyprotect the privacy of our customers.

Supporting Financial EducationIn support of our ongoing commitment to financial education, MassMutual is sponsoring a major PBS documentary to help the public understandthe importance of planning and saving for retirement. The program is scheduled to air in 2008 on PBS stations across the country. A companionWeb site will provide educational resources to help Americans of all ages and income levels take positive steps to prepare for retirement.

18

The success MassMutual has enjoyed is directly attributa-ble to the company’s talented employees and agents.MassMutual provides resources to support employeegrowth and development, and promotes employee work/lifebalance with benefits and on-site services.

MassMutual’s recruiting, retention, and employee develop-ment efforts all aim to build a more talented and engagedworkforce. Our Human Resources professionals are respon-sible for creating and embedding processes and systems toensure excellence in performance management, talent opti-mization, total rewards, and change management, all ofwhich contribute to an environment that allows our employ-ees to reach their full potential.

Employee RelationsEmployee Engagement Survey

MassMutual’s responsibility to its employees involves pro-viding them mechanisms for communication and feedback.The practice of one-on-one manager/employee meetingsand broader all-employee meetings with company execu-tives, including the chairman, president and CEO, are com-monplace. In 2006 we added an anonymous, Web-basedemployee engagement survey. The 50-question survey pro-vided a better understanding of how the company measuredin terms of employee commitment, motivation, and perform-ance. The survey was sent to more than 5,600 MassMutualemployees, with more than 90 percent responding.

An overwhelming percentage of those completing the sur-vey believe the company has an outstanding future. Surveyfindings yielded valuable employee feedback, includinginput on recognition and communication.

The opinions of our employees are recognized by companyexecutives as an important element in building the work-place culture of a recognized employer-of-choice.

Management response to the August 2006 survey findings,to date, includes:

• “Winner’s Circle,” an umbrella program recognizingservice, leadership, and team excellence;

• recognition “toolkits” for managers to use withrespective staff; and

• additional clarity in all executive-level communicationsto employees, with greater transparency, addressing the“why” and “how” of company actions.

MassMutual is committed to open and honest communica-tion with its employees. Employees will again be surveyedin 2007 and beyond to gather feedback, measure manage-ment responsiveness, and evaluate progress.

Performance Evaluation Process

MassMutual’s Performance Evaluation Process (PEP)measures home office employees against their respectiveannual objectives, taking into account their accomplish-ments and the ways in which they achieve those accom-plishments. Employees partner with their managers todevelop performance achievement goals and developmentplans. They then undergo twice-yearly assessments againstthese goals and plans.

Year-end performance evaluations are based on, among otherfactors, the employee’s demonstration of the company’s“Winning Ways,” a set of behaviors and values developed foremployees to help the company achieve its strategic objec-tives. Evaluation results, reviewed by employee, manager, andunit head, are a key indicator of the employee’s contributionto the company, and the primary factor considered in deter-mining individual employee compensation in line withMassMutual’s overall culture of meritocracy.

Employees and Field Force

MassMutual’s recruiting, retention and professional development efforts all aim tobuild a more talented and engaged workforce.

19

Employee Relations Function

The Employee Relations function partners proactively withMassMutual businesses to provide people policies, solutions,and practices that attract, develop, motivate, and retain themost talented and diverse workforce. Employee Relationsinvestigates employee issues, helps establish policies and pro-cedures, helps ensure compliance with employment laws andregulations, consults on the application of employment lawsto company practices, and assists in the education of employ-ees. Employee Relations also provides advice, counsel, andsupport to the Human Resources Business Partners, whowork directly with the company’s business and corporate area leaders.

Agents

MassMutual’s Career Agency System is comprised of morethan 4,000 career agents and approximately 12,000 brokers(as of Dec. 1, 2007). Career agents are an integral compo-nent of MassMutual’s strategy and account for about 75percent of the company’s sales. They are among the mosthighly trained and knowledgeable representatives in theindustry, enabling them to guide our policyholders towardgreater financial security in a skillful and insightful manner.The Career Agency System generated over $7 billion inpremiums for MassMutual in 2006.

The career agent force is distributed throughout the UnitedStates and Puerto Rico with representation in major metro-politan areas. The company currently has 84 “core” retaildistribution offices, or general agencies. These offices areoperated by a General Agent (GA) who has a contract withMassMutual. The GA is an independent contractor whoreceives an override commission on all MassMutual prod-ucts sold by agents contracted with him or her. The GA’sreceive support from MassMutual’s Career AgencyDistribution Department. To maintain their contract, GA’smust grow their assigned territories in production and netfield force (number of productive agents) and enforce the

company’s compliance policies and Code of Conduct, andfollow policies defined by the industry’s regulatory bodies,including the SEC and FINRA.

Career agents are independent contractors, but qualify asstatutory employees under the Internal Revenue Code. Thisallows MassMutual to provide health and retirement benefitsto them. Career agents must satisfy a minimum productionrequirement every calendar year to retain their contract.

The company recognizes its more productive agents bypaying bonuses for higher levels of production, policy count,or persistency (retention of policies). The company alsoprovides incentive trips domestically and abroad for a selectgroup of its most productive agents.

Training and DevelopmentHome Office

MassMutual provides training opportunities for Springfieldand Enfield home office personnel that impacts workforcedevelopment and, consequently, the company’s success.

• Our own Corporate University provides employees accessto both online and instructor-led classes, all mapped toalign with the “Winning Ways” behaviors. Both a generalcurriculum (e.g., Business Ethics, Strategic Planning,Communication, Project Management) and business-specific curriculum (e.g., Retirement Services University,Disability Income University) are offered.

• The Life Office Management Association’s (LOMA)Insurance Education Program offers training and exams forFLMI, FFSI, PCS, AIAA, and other life insurance andindustry designations.

• The 77,000-square-foot MassMutual Learning andConference Center in Chicopee, Mass., is the company’sprimary and preferred facility for company-sponsored train-ing programs, meetings, staff recognition, awardceremonies, and conferences.

Winning WaysWorking together, a team of employees and company leaders developed a set of behaviors – core principles that define how employeeswork every day – to help MassMutual achieve its strategic objectives. We call these behaviors our “Winning Ways.”

• Focus on the Customer: Know your customer well; add value with a level of urgency.

• Act with Integrity: Adhere to a strict code of ethics and MassMutual values; be trustworthy.

• Value People: Lead people to success; appreciate diverse ideas and experiences.

• Work Collaboratively: Partner with others to achieve results that leverage the right resources.

• Achieve Results: Focus on winning; consistently exceed expectations; beat the competition.

20

• The MassMutual Educational Assistance Program isdesigned to support employee participation in certaineducational courses, degree programs, and professionaldesignation programs. MassMutual reimburses 100 percent for certain covered expenses provided that all eligibility requirements are met, up to a designated calendar-year limit.

MassMutual Educational Assistance Program(for home office employees)

2006 2005

Annual payout amounts $1,988,602 $1,921,989

Together, all of these initiatives earned MassMutual a positionin the Training Magazine Top 125 for 2007 (March 2007), anannual ranking of national and international companies foremployee-sponsored training and learning development.

Field Force

MassMutual provides new agents with considerable train-ing and development opportunities, beginning with orienta-tion seminars where new agents learn needs-based sellingtechniques and are trained to establish lifelong relationshipswith the individuals and families they will work with.

A Career Development School offers training for agents tohelp them build on their successful practices once theybecome established. School participants work first-handwith their peers and with home office employees in person-alized sessions; the school fosters the development of agentpeer study groups and helps with resource sharing amongagents across the country.

MassMutual University, part of the company’s FieldNetextranet site for agents, delivers a curriculum of strategicmarketing, underwriting, and business fundamentalsthrough a combination of facilitated self-study, interactive

multi-media resources, and classroom instruction.MassMutual also offers courses with continuing-education-approved credits for all states, vital for agents workingtoward important industry designations (e.g., Chartered LifeUnderwriter (CLU), Chartered Financial Consultant(ChFC)). A more targeted training – the traveling, three-dayLife Academy – has been attended by more than 2,700agents in its first three years (2005 through 2007).

Work/Life BalanceMassMutual historically has recognized the value of helpingemployees achieve a work/life balance and offers a portfolioof programs and benefits to meet employee needs. In 2007,the company was named a Working Mother magazine(October 2007) 100 Best Company for the ninth time.

Benefits

Eligible employees can take advantage of an array of bene-fit offerings (some available to employees working at least20 hours/week), including:

• life, health, dental, disability, and vision coverage;

• savings and retirement plans;

• tuition reimbursement;

• flexible work arrangements;

• on-site and near-site subsidized child care facilitiesand a private lactation room;

• new-parent, job-guaranteed leave time;

• adoption assistance; and

• on-site resources such as a full-service cafeteria,employee health services clinic, fitness center, creditunion, and other services.

Career contract agents are eligible for life, health, dental,disability, and vision coverage; health-care and depend-ent-care flexible spending accounts; retirement plans; and

Working Mother MagazineIn 2007, MassMutual was named a Working Mother magazine (October 2007) 100 Best Company for the ninth time. This annual list cele-brates employers whose groundbreaking benefits, from flexible schedules and child care to on-site physical therapy and forgivable homeloans, are helping redefine workplace standards across the country.

21

adoption assistance. Agents attaining a specified level ofproduction receive subsidized health, dental, life, anddisability coverage.

Employee and Agent Assistance Program

MassMutual offers its employees and agents a 24/7 online-based program, offering assistance on work/life concerns,stress and emotional health issues, and legal and financialmatters. The assistance program provides information atno cost on subjects that include depression, anxiety, parent-ing, eldercare, and other traditional work/life concerns.Counseling and referral services are offered on a confi-dential basis. Employees and agents can also meet withlocal counselors from a network of qualified experts.

Health and Wellness

MassMutual places tremendous value on the health of itsworkforce. The company realizes that employee health direct-ly impacts productivity, and both individual and companyhealth care costs. As such, MassMutual’s Employee HealthServices offers employees access to an on-site physician,nurse practitioner, and nursing and administrative staff.MassMutual provides additional medical services such ascholesterol and blood pressure screenings, workstationergonomic reviews, access to smoking cessation resources,stress management courses, and informational seminars.

In 2006, employees made more than 13,400 visits to theEmployee Health Services locations at the Springfield andEnfield campuses. Beginning in 2007, a confidential, onlinewellness assessment – the “ Live Healthy, Live Well”program – will be offered to employees and agents and theirfamily members. The program, initially slated to run through2009, will offer monetary incentives to eligible employees andagents who choose to participate in the program, and will allocate resources to address existing health risks.

DiversityMassMutual strives to provide an inclusive, respectful, andproductive work environment that supports innovation andpersonal accountability and that is free from all forms ofimproper discrimination and harassment, including sexualharassment. In line with this approach, MassMutual seeks outindividuals with diverse experiences, backgrounds, and skills.MassMutual has also developed a company-wide Statementof Respect (distributed to employees annually), and EqualOpportunity and Harassment Prevention policies, and pro-vides elective diversity-related training classes.

As measured in the bi-annual Performance EvaluationProcess, employees are held accountable for their support forall forms of workplace diversity. To address diversity withinits extensive field force, MassMutual has developed anAgency People Practice Toolkit, along with an employee andagent handbook and model Code of Conduct – all aimed atimproving agent recruitment and retention efforts that helpbetter align sales efforts with market opportunities.

One Division’s Approach to Diversity The Law Division is deeply committed to MassMutual’s diversitypractices, believing that differences based on ethnicity, gender, color,age, race, religion, disability, national origin, sexual orientation, aswell as an infinite range of individual unique characteristics and expe-riences combine to make its lawyers, paralegals, administrative assis-tants, and support staff approach challenges differently and identifydifferent solutions. Some highlights of the Law Division’s DiversityPolicy outlining the strategy and tactics for successful implementationinclude:

• Posting job openings on Web sites that target minority candidates(e.g., Minority Corporate Counsel Association Web site);

• Requiring the General Counsel’s direct reports to provide periodicupdates regarding the status of diversity efforts in recruitment;

• Retaining outside counsel who understand that the legal and busi-ness interests of our clients require legal representation thatreflects the diversity of MassMutual’s employees, customers, andthe communities where we do business;

• Including a law firm’s commitment to diversity as a component ofour preferred counsel selection process;

• Maintaining company support of and/or membership in local andnational minority counsel organizations, including LawyersCollaborative for Diversity, and Minority Corporate CounselAssociation;

• Establishment of a Diversity Committee for the purpose of moni-toring and/or assisting in the implementation of the strategies andtactics for the Law Division’s Diversity Policy, and providingperiodic progress reports.

22

MassMutual’s long-term success is greatly influenced byour steadfast commitment to the communities in whichwe operate. This commitment not only benefits our com-munities, it also adds policyholder and customer value byreinforcing our “Winning Ways” and enhancing ourbrand. To that end, MassMutual and The MassMutualFoundation for Hartford, Inc. (MassMutual Foundation).10

together provided more than $7.6 million in charitablecontributions in 2006. MassMutual also continues to pro-vide direct and indirect economic benefits through itsoperations. With 84 MassMutual general agenciesthroughout the United States, MassMutual has a nationalpresence in financial services and is committed to beingresponsive to the communities in which it operates.

MassMutual was established in 1851 in Springfield,Mass., and its first president was the city’s first-evermayor. The company is proud of its longstandingrelationship with Springfield and continues to maintain itshome office in the city more than 156 years later.

In addition to our headquarters in Springfield, our BrightMeadow campus nine miles away in Enfield, Conn.,serves as the base of our Connecticut operations.Committed to the region, MassMutual acquired the BrightMeadow property in 2004 to accommodate its demand foradditional space. Factors that led to the decision to locatein Enfield included the fact that MassMutual’s Hartford,Conn., campus was inefficient and its Springfield campuswas near capacity. Between acquisition costs and anextensive renovation of the campus completed in 2006,MassMutual invested $74 million into the property. Inaddition to the Bright Meadow campus, MassMutualinvested more than $45 million in construction and reno-

vations in its Springfield headquarters that were complet-ed in 2006. MassMutual employs nearly 6,000 dedicatedindividuals in western Massachusetts and northernConnecticut.

MassMutual’s investment in its infrastructure also has asignificant economic impact on our region. According toa study commissioned by MassMutual to measure theeconomic impact of its construction projects in Enfieldand Springfield, the region realized a one-time effect of$154.6 million in output, 1,423 jobs, and $55.2 million incompensation due to the construction and renovationactivities. An annual ongoing effect because of the netnew jobs will be $33.7 million in output, 168 jobs, and$11.1 million in employee compensation.11

Home Office CommunitiesIn our home office communities of Springfield andEnfield, we seek to enhance the quality of life for thecommunity at large and our employees by supportingeducation, the arts, and economic development.MassMutual’s commitment to Springfield and our sur-rounding communities has never waned, even as the citytackles financial difficulty. In many instances, we serve asa catalyst for community focused initiatives in an effort toleverage our leadership role in the community to generateadditional impact.

Respected Presence in our Communities

MassMutual is committed to the communities where it operates. More than$7.6 million in charitable contributions were made in 2006 by MassMutual and

the MassMutual Foundation.

10 Formerly the Connecticut Mutual Life Foundation. From 1976 to 2006 the Foundation served as a private, tax exempt organization under IRS section 501(c)(3) with a mission to respond to the needs of the Hartford, Conn. community consistent with MassMutual’s vision, strategy and commitments.

11 “Economic Impact of MassMutual’s Bright Meadow and Springfield Projects,”Connecticut Economic Resource Center, Inc., 2005.

23

MassMutual takes an active role in Springfield’s redevelop-ment and in particular the State Street corridor just outsidethe company’s front door. MassMutual has worked with cityofficials to convene a group of more than 50 key stake-holders – including property owners, institutions, communi-ty-based organizations, and neighborhood groups – to formthe State Street Alliance. This group’s mission is to worktogether toward the creation and implementation of a com-prehensive economic redevelopment strategy for the StateStreet corridor. This initiative has the potential to significantly improve the economic climate of a centralartery of the city and the immediate neighborhood of ourhome office.

In December 2006, MassMutual offered a challenge grantof $50,000 to the Pioneer Valley Chapter of the AmericanRed Cross (Red Cross) for budget relief at the beginning ofwhat unfortunately became a busy fire season. If the RedCross raised $100,000, MassMutual would provide $50,000toward its efforts. The Red Cross exceeded its goal, raisingover $126,000, including an anonymous $25,000 contribu-tion from a Boston-based company that attributed its contri-bution to MassMutual’s involvement and leadership.

Other local organizations have also benefited fromMassMutual’s collective desire to reach out to those in need:

• More than 1,100 employees from the Springfield and Enfieldcampuses volunteered during the annual United Way Day ofCaring in September 2007, helping such agencies as theMartin Luther King Jr. Community Center in Springfield andthe Enfield Loaves and Fishes organization.

• MassMutual’s 2007 United Way campaign surpassed our$2.8 million goal, raising nearly $3 million.MassMutual’s contribution to the United Way of PioneerValley’s annual campaign constitutes almost one-third ofthe organization’s total dollars raised.

• In 2006, more than 27 additional local non-profit organi-zations received more than $22,000 in total grants as partof the company’s Volunteers in Action program.

• Employees donated 912 pounds of food in a November2006 drive to help area food banks.

• MassMutual continues to support local arts, sponsoringorganizations like the Springfield Symphony Orchestra.

Education is a priority focus in MassMutual’s communityoutreach efforts. For more than 20 years, the company’sAcademic Achievement Program has fostered a culture ofachievement in Springfield schools where academic accom-plishments are held in high regard. In 2006, more than1,100 high school students were named MassMutualAcademic Achievers by maintaining a B-or-better averagefor four consecutive marking periods. The success of thisprogram has given rise to the Reading Achievers and theMassMutual Scholars programs. The Scholars programstrives to expand educational opportunities for youngsterswho are committed to their education, offering up to 50four-year scholarships to eligible, college-bound high schoolseniors in Hampden (Massachusetts) and Hartford(Connecticut) counties. MassMutual also awards 30 annualscholarships to eligible middle school students to attend oneof three Springfield-based private schools. Through allorganization-wide educational initiatives, MassMutual andthe MassMutual Foundation provided nearly $2.3 million inscholarship funding to students in 2007.

24

National OutreachMassMutual seeks to provide our agents with the oppor-tunity to engage with their communities through philan-thropic programs that address important societal issues.

The innovative LifeBridgeSM Free Life Insurance Programprovides free $50,000 term life insurance for eligible par-ents or guardians. MassMutual pays the premiums, andits agents drive the program in their communities. If aninsured parent or guardian dies during the 10-year term,the $50,000 benefit funds a trust serviced by our trustcompany to pay for eligible dependent children’s educa-tional expenses. As of the end of June 2007, more than7,000 policies – totaling more than $350 million in lifeinsurance in force – have been given away. For fulldetails about this program, please visit our Web site atwww.MassMutual.com/lifebridge.

MassMutual held a special seminar series in October 2006in conjunction with National Breast Cancer AwarenessMonth. The seminars, hosted by financial professionals intheir local communities, provided women, their familiesand friends with access to a wide range of content and pro-duced more than $100,000 in donations for research anddetection and treatment programs for those battling breastcancer. MassMutual was also a sponsor for the 2006Danskin Women’s Triathlon SeriesTM, a combined swim,bike and run/walk race for women that donates 10 percentof all entry fees to the Breast Cancer Research Foundation.At all eight race locations, MassMutual presented financialawareness seminars to participants, donating $1,000 to theFoundation for each seminar held.

Through the Community Service Awards program,MassMutual distributes $80,000 annually to eligible

non-profit organizations where MassMutual field salesforce selflessly volunteer their time. The awards recognizeexceptional community service. Eligible MassMutualagents, General Agents, and full-time agency employeesfrom throughout the country compete for these $10,000grants. The applicants’ degree of hands-on involvement,time commitment to the organization, and the impact oftheir efforts are considered when determining the winners.

In addition, MassMutual helps recognize and encouragethe generosity of its eligible employees, agents, and com-pany directors by matching their charitable contributionsto qualified non-profit organizations. In 2006, over$580,000 in matching gifts was distributed, providingsupport to nearly 1,200 organizations nationwide.

In an effort to share our resources with those in need,MassMutual has joined forces with the Corporate AngelNetwork – a non-profit organization that helps arrangefree transportation for cancer patients. Under theCorporate Angel Network program, companies help easeboth the cost and physical and emotional stress of travelfor cancer patients by arranging free flights to optimaltreatment centers. With MassMutual’s participation in thenetwork, patients may use empty seats on the company’saircraft flying on routine business.

MassMutual has also been active in financing the produc-tion of affordable housing since 1995 with commercialmortgage lending programs and direct equity investing.On the lending side, MassMutual has funded 190 afford-able housing loans totaling $848 million. Babson Capitalis the primary servicer of these loans. On the equity side,MassMutual has committed to purchase $578 million oftax credit investments involving 378 properties.12

Tiger Woods Learning Center in Anaheim, Calif.Photo credit: Gary Newkirk for Tiger Woods Foundation.

12 As of Aug. 6, 2007.

25

Supporting EntrepreneurshipIn 2007, MassMutual began a three-year, $225,000 commitment for a pilot Business Entrepreneurship Program at the Tiger Woods LearningCenter in Anaheim, Calif. MassMutual’s donation will be used to develop and implement an after-school curriculum aimed at providing youngpeople with entrepreneurial and financial literacy skills. Program participants will experience hands-on learning as they work to develop theirown entrepreneurial concepts and apply them to real-world scenarios.

2006

Corporate13

Foundation14

Combined

2005

Corporate

Foundation

Combined

2004

Corporate

Foundation

Combined

Education

$3,117,571

$703,276

$3,820,847

$1,458,278

$429,980

$1,888,258

$1,350,057

$2,076,653

$3,426,710

Arts & Culture

$525,642

$576,500

$1,102,142

$463,373

$231,000

$694,373

$313,809

$623,500

$937,309

Community

$1,745,781

$3,025

$1,748,806

$2,522,817

$314,250

$ 2,837,067

$1,319,278

$273,500

$1,592,778

United Way

$1,003,334

$0

$1,003,475

$1,080,334

$181,120

$1,261,454

$910,024

$231,120

$1,141,144

Total

$6,392,469

$1,282,801

$7,675,270

$5,524,802

$1,156,350

$6,681,152

$3,893,168

$3,204,773

$7,097,941

Contributions

13 MassMutual.

14 MassMutual Foundation for Hartford, Inc. The Foundation was dissolved in August 2006; however, several Foundation-funded programs continued beyond 2006.

15 $127,620 was paid in 2005 toward the 2004 United Way Campaign.

15

26

Throughout everyday business operations, MassMutualstrives to reduce its environmental footprint by effectivelymanaging the use of natural resources. AlthoughMassMutual does not produce products which causedirect environmental impacts, we have policies and proce-dures to run our local operations safely, effectively, andefficiently.16 MassMutual maintains OSHA-compliantsafety programs and policies. The company also regularlyupdates its health, safety, and environment policies and procedures to reflect changes in regulations or work processes.

The Corporate Environmental Manager, located in ourCorporate Services Division, has the ultimate responsibil-ity for managing the company’s environmental, health,and safety performance and ensuring compliance with allapplicable federal, state, and local environmental regula-tions. Members of the Corporate Services Division areactive in various national organizations and hold profes-sional certifications and licenses. They also provide in-kind services to local non-profit organizations.

The Environmental Manager oversees surveys, reviews,and evaluations of environmental activities at all levelsthroughout the company. Facility managers ensure thatinternal organizational plans and procedures are followedand that they comply with environmental laws and regula-tions. As of this reporting period, and historically,MassMutual has not had any environmental complianceissues and no fines or penalties have been levied againstthe company with respect to its environmental practices.

Environmental ManagementMassMutual’s environmental objectives are to preventadverse environmental effects and to realize the benefitsof superior environmental performance. An Energy Policyand an Energy Conservation Program are in place, andour health, safety, and environment policies and proce-dures are documented within the company’s CorporateBusiness Ethics and Compliance Guide. All employeesare expected to contribute toward the company’s goal ofoperating in an environmentally responsible manner. Thisis achieved by optimizing the use of resources throughthe use of efficient technologies and procedures; prevent-ing adverse impacts; and complying with applicablerequirements. The company integrates its environmentalstewardship and accountability in the performance of itsoperations and activities to promote continuous improve-ment of environmental performance.

Efficient and Responsible Operations

MassMutual’s focus on responsible operations has improved environmental perform-ance and strengthened the bottom line.

16 The local operations noted in this section include our home offices in Springfield, Mass.and Enfield, Conn., and our Learning and Conference Center in Chicopee, Mass.

27

Managing Efficiency and ResourcesMassMutual has implemented a cost efficiency initiative tosupport one of 11 corporate strategic priorities. As part ofthis initiative, we are evaluating the different expensesincurred throughout the company, including those related toenvironmental management and our use of materials andenergy, all with the goal of reducing costs and wastes wher-ever possible. For example:

• we have developed a recycled office supply program inwhich supplies no longer needed by one business area aremade available to other areas;

• separating recyclable paper from trash;

• recycling printer and toner cartridges;

• all new printers default to print on two sides, helping save paper;

• the majority of white copy paper purchased is at least 10percent, post-consumer recycled content; and

• other paper products purchased are 45 to 100 percentrecycled materials (paper towels are 100 percent recycled,20 percent post-consumer).

Because utility companies often provide financial incentivesto encourage energy conservation, MassMutual has beenable to realize savings through its energy-use practices andthe practices of its employees, including:

• making lighting more energy efficient through the use ofa lighting control system;

• installing energy-efficient motors;

• upgrading HVAC systems;

• negotiating for the lowest possible fuel and electric rates; and

• having employees turn off task lights when away fromtheir desks.

Continuing these efforts, and identifying additional practices,is expected to result in the following energy savings:

Year Projected Energy Savings

2007 $1,451,563

2008 $1,453,163

2009 $1,453,163

The company’s expenditures for environmental protectionaverage approximately $260,000 annually and include (butare not limited to): hazardous waste management and dis-posal via recycling, asbestos management and removal,indoor air quality management, spill control management,and air discharge control measures and monitoring.

28

Green GroundskeepingMassMutual’s Grounds Department uses green practiceson both our Springfield and Enfield campuses. Thedepartment has been working on reducing pesticide usethrough Integrated Pest Management, a strategy to man-age turf and ornamental landscape plants in ways toreduce the potential for pest and disease problems.

Retention ponds and swales have been established oncompany properties to control water run off from allbuilding projects. These retention ponds work with natu-ral habitats in a wetland setting through the use of nativeplants that are beneficial to wildlife. A recent project atour Enfield campus included re-establishing a nativewoodland edge by building brush piles to provide coverfor wildlife and by constructing snags for bird and mam-mal activity.

Wherever possible, the Grounds Department has beenpurchasing equipment that can use vegetable oil rather thanhydraulic fluid, such as for the gate arms at all MassMutualentrances. The department is also working to reduce noiseand emissions from gas and diesel powered enginesthrough the use of electric powered utility vehicles.

Safety MassMutual strives to provide a hazard-free workplace.The company communicates safety rules and practices toemployees and provides appropriate employee trainingwith the ultimate goal of eliminating unsafe practices andinjuries. Our Facilities Safety Committee meets monthlyto discuss safety issues, training requirements, andchanges to facilities and operations. After 9/11, weupdated our facilities, policies, and procedures to meetnew Homeland Security measures and to increase thesafety of our employees and our business operations.

Members of MassMutual’s Security Department and itsaffiliated security force provide employees and theirguests the highest quality of security coverage possible.

Security’s primary objective is to ensure the safety andhealth of our employees and protect company property.The department has been proactive in enhancing security atthe Springfield and Enfield sites by redesigning our peri-meters and redirecting traffic patterns. MassMutual com-bines active vigilance with proactive planning, resulting inan overall security plan that is well designed, up-to-date,and cost-effective.

Electricity (GJ)19

Natural Gas

Fuel Oil

TOTAL (GJ)

PRIMARY

INTERMEDIATE

Per square foot

Per capita

LOCATION

Springfield (MA)

Enfield (CT)

Hartford (CT)

Chicopee (MA)

Springfield

Enfield

Hartford

Chicopee

Springfield

29

Teaming up with The Conservation FundMassMutual’s Retirement Services Division is collaborating with The Conservation Fund’s Go ZeroSM program to help address two of theworld's most pressing environmental issues – climate change and habitat loss. For every plan sponsor who replaces paper delivery withe-prospectus delivery, MassMutual will make a donation to The Conservation Fund to plant a tree in a protected forest on their behalf.E-prospectus delivery enables all MassMutual plan sponsors and participants to receive the most up-to-date prospectus information whileminimizing the impact of paper usage on the environment. The Conservation Fund has been rated the nation’s top environmental nonprofit,receiving an “A+” rating from the American Institute of Philanthropy for six years in a row.

Energy Usage 17, 18

Direct

Indirect

Per Sq Foot

Per Capita

2006

3,357 24

13,115

0.009

3

2005

5,297

20,289

0.0111

5

Greenhouse Gas Emissions (CO2)23

(by weight-metric tons)

Office Paper

Office Paper

Carpet Squares

Cardboard andCarpet Squares

Fluorescent lamps

Batteries

Used Oil

Hazardous Waste29

Non-regulatedWaste 31

Metals

Water usage

Purchased

Recycled

Purchased

Recycled

Recycled

Recycled

Recycled

Recycled (95%)Incinerated (5%)

Recycled

Recycled

Per Square Foot

Per Capita

2006

887 US tons

649 US tons

33 US tons

144 US tons26, 27

5 tons

826 lbs.28

550 kg

1,892 kg30

1,952 kg

148 US tons32

3,834,868 Ccf 33

2 Ccf 34

661 Ccf 35

2005

n/a

525 US tons

n/a

72 US tons25

3 tons

150 lbs.

550 kg

584 kg

0 kg

64 US tons

4,614,557 Ccf

2 Ccf

832 Ccf

Material Use and Recycling

Environmental Data

(non-renewable)22

17 Information noted in tables includes our home office locations of Springfield, Mass., and Enfield, Conn. and our Learning and Conference Center in Chicopee, Mass.

18 Note: Hartford, Conn. operations closed in March 2006.

19 GJ = Gigajoules.

20 Negligible amount for Hartford due to majority of employees already moved to Enfield offices. Hartford numbers integrated within Enfield.

21 Negligible amount for Hartford due to majority of employees already moved to Enfield offices. Hartford numbers integrated within Enfield.

22 Primary energy that MassMutual purchases: fuel oil, natural gas; Primary energy that MassMutual produces: none; Total Primary renewable energy: none.

23 Data compiled using GRI technical indicator protocols.

24 Decrease due to greater use of Natural Gas vs. #6 Fuel Oil.

25 This represents cardboard only in 2005 as no carpet was recycled in 2005.

26 Recycling figures are larger due to the starting of carpet square recycling program in 2006.

27 Represents recycled cardboard and carpet squares in 2006.

28 Increased due to closing of Hartford office, increased awareness due to cost efficiency and recycling communication and the rate of accumulation – batteries purchased in 2005 were recycled in 2006.

29 Hazardous waste noted is waste paint, waste paint rags, waste Jet Fuel A, Waste B&B 3100 Engine Cleaner.

30 Hazardous waste fluctuates annually due to accumulation rates. Most of increase due to closing of Hartford office building.

31 Non-regulated waste noted: used antifreeze and water, waste ink and makeup solution.

32 Increase due to ongoing capital project generated from construction, maintenance and equipment upgrades and replacement.

33 Ccf (hundred cubic feet) - a unit of water used by some municipal water providers for metering and billing purposes. 1 Ccf = 748 gallons.

34 Represents same number of people in fewer sq. feet in Enfield, Conn. vs. Hartford, Conn. All water used is from a Municipal Water Utility.

35 Decrease due to water efficiency improvements – older Hartford, Conn. building vs. newer Enfield, Conn. building.

2006

99,286

29,179

n/a 20

4,309

21,477

8,527

n/a 21

4,304

19,879

186,960

47,000

132,774

0.102

32

2005

97,179

24,484

34,297

4,304

19,047

9,841

31,783

5,413

24,026

250,373

90,110

160,263

0.109

45

RecognitionFortune 500®

MassMutual ranked No. 90 (Fortune magazine, April 30, 2007)

Fortune MagazineAmerica’s Most Admired Companies® (life and health insur-ance industry category) (Fortune magazine, March 19, 2007)

IMSAMassMutual completed a rigorous independent review of itsmarketing, sales, and compliance practices to renew member-ship in the Insurance Marketplace Standards Association(IMSA) for a new three-year term (March 2007)

Working Mother Magazine: 100 Best Companies (October 2007)

InformationWeek 500MassMutual received a No. 1 ranking in the 2007InformationWeek 500 “Information Security/Privacy” categoryfor its proprietary information security management system.MassMutual’s award is one of five “Leaders in Innovation”category awards identified by InformationWeek, namelyProductivity, Information Security, Supply Chain Innovation,Emerging Technology and Customer Intimacy.

MassMutual also earned an overall ranking of No. 66 on theInformationWeek 500. (September 2007)

American Red CrossAmerican Red Cross 2007 “Circle of Humanitarian Award,”presented to philanthropic corporations to acknowledge theiroutstanding support of the American Red Cross.

DalbarDalbar ranks the best Web sites across the financial servicesindustry. MassMutual.com was one of only five life insuranceand annuity Web sites that received the highest certified Website rating of “Excellent” (2006, fourth-quarter rankings). Asof June 2007, MassMutual.com held onto this designation;in addition, our FieldNet extranet Web site, which providesinformation for and serves our agents, was named No. 1 inits category.

Exceptional Parent MagazineExceptional Parent Magazine Symbol of Excellence Award(2006): MassMutual is one of only 12 companies and organiza-tions in the 36-year history of Exceptional Parent Magazine toreceive this award, which recognizes the company’s philosophyto consistently support and advocate on behalf of the specialneeds population.

Information Security ExecutiveInformation Security Executive (ISE) of the Year NationalAward 2006 awarded to Bruce Bonsall, MassMutual’s ChiefInformation Security Officer.

Learn more at: www.MassMutual.com/mmfg/about/awards.html

Memberships • American Council of Life Insurers (ACLI)

• Association of Corporate Contributions Professionals (ACCP)

• The Association of Life Insurance Counsel, Inc.

• Compliance and Ethics Leadership Council

• Connecticut Hispanic Bar Association

• Ethics and Compliance Officer Association

• Ethics Resource Center

• The Early Education for All Campaign, Massachusetts – Signatory

• Insurance Marketplace Standards Association (IMSA) 2007-2010

• International Association of Privacy Officers

• Lawyers Collaborative for Diversity

• LRN/RAND Center for Corporate Ethics, Law and Governance

• Life Insurance Marketing Research Association (LIMRA)

• Minority Corporate Counsel Association

30

31

GRI Content Index Strategy and analysis

1.1 CEO letter 11.2 Description of key impacts, risks, and opportunities 1,4

Organizational profile

2.1 Name of the organization Inside front cover2.2 Primary brands, products, and/or services 5-8, Annual Report36

2.3 Operational structure 5-82.4 Location of company headquarters 52.5 Countries of operation 72.6 Nature of ownership and legal form 52.7 Markets served 5-82.8 Scale of reporting organization 5-82.9 Significant changes during the reporting period N/A2.10 Awards received in the reporting period 30

Report parameters

3.1 Reporting period 33.2 Data of most recent previous report 33.3 Reporting cycle 33.4 Contact point for the report Inside back cover 3.5 Process for defining report content 3 3.6 Boundary of the report 33.7 Limitations on scope or boundary of the report 33.8 Basis for reporting on joint ventures, subsidiaries,

outsourced operations, and other entities 33.9 Data compilation 33.10 Explanation of the effect of any re-statements N/A3.11 Significant changes from previous reporting periods N/A 3.12 GRI content table 31-323.13 Assurance 3

Governance, commitment, and engagement

4.1 Governance structure of the organization 10-114.2 Status of board chairman 104.3 Number of independent directors 104.4 Mechanisms for input to board 11,134.5 Linkage of board/executive compensation

to performance 104.6 Processes to avoid conflicts of interest at board level 10-114.7 Process for selecting board members 104.8 Statements of mission or values, codes of conduct 12, 14, 164.9 Board management of corporate responsibility issues 104.10 Processes for evaluating board performance 104.11 Precautionary principle 11-134.12 Endorsements of external charters,

principles, initiatives None4.13 Membership in associations 15,304.14 List of stakeholder groups 84.15 Basis for identification and selection of stakeholders 8-9

4.16 Approaches to stakeholder engagement 8-9,14-15,184.17 Key topics and concerns raised by stakeholders and

how those issues are being addressed 14-18

Economic performance

Disclosure on Management Approach Annual ReportEC1. Direct economic value generated Annual Report EC3. Coverage of defined benefit plan obligations Annual Report EC4. Significant governmental assistance N/AEC8. Development and impact of infrastructure

investments 22EC9. Indirect economic impacts 22

Environmental performance

Disclosure on Management Approach 26EN1. Materials used by weight or volume 29EN2. Percentage of materials used that are recycled

input materials 29EN3. Direct energy consumption by primary energy source 29EN4. Indirect energy consumption by primary source 29EN5. Energy saved due to conservation and

efficiency improvements 27-29EN7. Initiatives to reduce indirect energy consumption

and reductions achieved 27-29EN8. Water withdrawal by source 29EN16. Total direct and indirect greenhouse gas

emissions by weight 29EN22. Total weight of waste by type and disposal method 29EN24. Total weight of hazardous waste 29EN28. Monetary value of significant fines for

environmental noncompliance 26EN30. Total environmental protection expenditures and

investments by type 27EN6, EN10, EN11, EN12, EN13, EN14, EN15, EN19, EN20, EN21, EN23, EN25, EN26, EN27, EN29 N/A

Labor practices and decent work

Disclosure on Management Approach 18-21LA1. Total workforce by employment type 7LA3. Benefits provided to full-time employees

that are not available to part-time employees 19-21LA4. Percentage of employees covered by

collective bargaining NoneLA8. Education and training, around the prevention of

serious diseases 21LA9. Health and safety topics covered in

union agreements N/ALA10. Average hours of training per year per employee

by employee category 20LA11. Programs for skills management and lifelong

learning and for continued employability 18-20LA12. Percentage of employees receiving regular

performance and career development reviews 18

36 www.MassMutual.com

Human rights

Disclosure on Management Approach 11-12HR3. Total hours of employee training on human rights

and percentage of employees trained 11-12HR8. Percentage of security personnel trained in

human rights 12 HR9. Total number of incidents of violations involving

rights of indigenous peoples N/A

Society

Disclosure on Management Approach 13, 22SO1. Programs to manage impacts of operations on

communities, including entering and exiting 22-25SO3. Percentage of employees trained in anti-corruption

policies/procedures 11-12 SO5. Public policy positions and participation in policy

development/lobbying 13-14SO7. Legal actions for noncompetitive behavior None

Product responsibility

Disclosure on Management Approach 14–15PR3. Type of product and service information

required and percentage of products subject to such information requirements 14-16

PR5. Practices related to customer satisfaction, including results of surveys measuring customer satisfaction 8

PR6. Programs for adherence to laws, standards, and voluntary codes related to marketing communications 8, 14-15

PR1, PR2 N/A

GRI Application Level Declaration Table

We value the input of our stakeholders and encourage feedback and suggestions. Please feel free to contact us at:CorporateResponsibility@MassMutual.com

orMassachusetts Mutual Life Insurance Company1295 State Street – F215Springfield, MA 01111-0001or1-800-767-1000 Extension #43653

32

+ + +

Feedback Survey - MassMutual Corporate Responsibility Report

Thank you for reading this report. In this, our first report, we haveattempted to provide a balanced description of our corporate responsibilityperformance and highlight those issues that are most significant to ourstakeholders and our company. We invite you to provide us with yourfeedback by filling out and returning this survey or by completing itonline at www.MassMutual.com/responsibility.

Please send comments or questions toCorporateResponsibility@MassMutual.com.

1. How much of the report did you read?

2. How would your rate the report, overall?

3. Based on what you read in the report, do

you think that MassMutual is a responsible

corporate citizen?

4. Please rate the report on the following criteria by selecting a rating on the five point

scale for each:Poor Fair Average Good Excellent

Content � � � � �

Credibility � � � � �

Balance � � � � �

Readability � � � � �

Design/Appearance � � � � �

5. Which of the following best describes you?

� Policyholder � Customer � Employee � Agent

� Media � Supplier � Academic � GovernmentOfficial

� CSR Professional � Non-Governmental Organization (NGO)

Other:_____________________________________

Not Useful Extremely UsefulNot Valuable Extremely Valuable

� 1 � 2 � 3 � 4 � 5

Strongly Disagree Strongly Agree

� 1 � 2 � 3 � 4 � 5

None All

� 1 � 2 � 3 � 4 � 5

MA

SS

AC

HU

SE

TTS M

UTU

AL LIFE

INS

UR

AN

CE

CO

MPA

NY

CO

MM

UN

ITY R

ES

PO

NS

IBILITY

F215P.O

. Box 1295

SP

RIN

GFIE

LD, M

A 01101-9905

BU

SIN

ES

S R

EP

LY M

AIL

FIR

ST -C

LAS

S M

AIL

PE

RM

IT N

O. 1

SP

RIN

GF

IELD

, MA

PO

STA

GE

WILL B

E P A

ID B

Y A

DD

RE

SS

EE

NO

PO

STA

GE

NE

CE

SS

AR

YIF

MA

ILED

IN

TH

E

UN

ITE

D S

TATE

S

� � � � �

� � � � �

� � � � �

� � � � �

� � � � �

� � � �

� � � �

� �

� � � � �

� � � � �

� � � � �

COR3566 1207CRN200912-93219

Massachusetts Mutual Life Insurance Companyand affiliates, Springfield, MA 01111-0001

www.massmutual.com

This report uses 100% post-consumer recycled paper which achieved the

following advantages for the environment. 37.3 trees preserved for the future,

107.7 lbs. waterborne waste not created, 15,842 gallons wastewater flow

saved, 1,753 lbs. solid waste not generated, 3,451 lbs. net greenhouse gases

prevented, 26,418,000 BTUs energy not consumed.

Savings from the use of emission-free wind-generated electricity: 1,793 lbs.

air emissions not generated. Displaces this amount of fossil fuel: 4,267 cubic

feet natural gas unused.

In other words, the savings from the use of wind-generated electricity are

equivalent to: not driving 1,943 miles or planting 121 trees.

This piece is printed on Mohawk Options PC 100 which is manufactured entirely with

Green-e certified wind-generated electricity.

© 2007 Massachusetts Mutual Life Insurance Company. All rights reserved.

MassMutual Financial Group is a marketing name for Massachusetts Mutual LifeInsurance Company (MassMutual) and its affiliated companies and sales representatives.

Securities offered through registered representatives of MML InvestorsServices, Inc., 1295 State Street, Springfield, MA 01111.

100%