The multi-million dollar expansion and renovation project by Massachusetts Mutual Life Insurance Company (MassMutual) includes an 80,000-square foot document management building and a renovation of a major building wing first constructed in 1965, including a complete overhaul and expansion of its employee cafeteria. Construction began in September 2004 and was completed in March.

"This expansion project is a clear indication of our growth and the confidence we have in the city of Springfield and the broader region as well," said Stuart H. Reese, president and CEO, MassMutual. "This significant investment we have made in our future growth sends a resonant message: We are proud to call Springfield our home and look forward to continued growth and prosperity in the city."

MassMutual held a reception today at its 1295 State Street headquarters to celebrate the completion of the project. The event drew representatives from the community, business and civic organizations, and city, state and federal government officials. Guests viewed a display of construction photographs and took tours of the completed work.

"The construction work that took place here for more than 18 months has been a tremendous undertaking, and we are extremely proud of the results we have achieved," said Elaine A. Sarsynski, senior vice president and chief administrative officer, MassMutual. "Our expanded and modernized facility positions us for long-term success as we continue to grow as one of the largest employers in the region, as well as in Massachusetts."

MassMutual's new document management building has significantly increased the company's document management capacity. The building also houses records, office space and document imaging centers. In addition, the company conducted a complete renovation of the employee cafeteria, kitchen and food preparation areas on the first floor, as well as three floors of office space above it.

MassMutual also upgraded the electrical power equipment on its Springfield campus and redesigned the power grid to redistribute the power supply throughout the campus, which will enable immediate backup and recovery from any power disruptions. In addition, the company completed a series of other renovations and improvements that enhance both the aesthetic appearance and safety on the campus.

MassMutual's total investment in this project is approximately $45 million, which includes $30 million in construction costs and $15 million in equipment, furniture and other related costs.

The general contractor for the document management building was Associated Builders from South Hadley, Mass. The general contractor for the renovation project was Structure Tone from Boston, Mass.

In addition to the Springfield project, MassMutual recently invested $74 million in purchase and renovation costs for its Enfield, Conn. campus at 100 Bright Meadow Boulevard, bringing its total investment in the region to nearly $120 million. MassMutual purchased that property in May 2004 and it now serves as home to MassMutual's operations in Connecticut.

MassMutual is currently ranked 92^nd on the Fortune 500 (Fortune Magazine, 4/17/06), making it the largest company, based on revenues, in Massachusetts on the list.

MassMutual Financial Group is the fleet name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliates, with more than 13 million clients and over $395 billion in assets under management at year-end 2005.

Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., member FINRA and SiPC (www.finra.org www.sipc.org) and The MassMutual Trust Company, FSB.