(SPRINGFIELD, Mass.) - Massachusetts Mutual Life Insurance Company (MassMutual) announced today that Stuart H. Reese, Chief Executive Officer and President of MassMutual, has also been named Chairman of MassMutual’s Board of Directors.

The assumption of the Chairman duties by Mr. Reese, in addition to his other responsibilities, has been approved by MassMutual’s Board and is effective January 1, 2007. As Chairman, he succeeds James R. Birle, who has been serving as non-executive Chairman since June 2005 and has been on MassMutual’s Board since 1992. Mr. Birle has been named Lead Director of the Board.

Mr. Reese, 51, was named CEO and President of MassMutual in June 2005. Previously, he was Executive Vice President and Chief Investment Officer of MassMutual, and Chairman and CEO of Babson Capital Management LLC, a MassMutual subsidiary.

“Stu Reese has done an outstanding job since becoming CEO and President, and his promotion to Chairman reflects the Board’s complete confidence in his abilities,” Mr. Birle said. “Stu has accomplished a great deal for MassMutual over the past 18 months and demonstrated tremendous leadership since taking the helm of the company. He has put together one of the best leadership teams in the industry, and his strategic vision and strong customer focus have positioned MassMutual very well for long-term success.”

“Most importantly, under Stu’s direction, MassMutual’s financial performance continues to be strong, as evidenced by our recently announced $1.25 billion estimated dividend payout to our participating policyholders, the highest payout ever in our company’s 155-year history,” Mr. Birle added. “The Board looks forward to working closely with Stu as MassMutual continues to provide exceptional value to our policyholders and clients.”

Mr. Reese first joined MassMutual in 1993. In his previous role as Executive Vice President and Chief Investment Officer at MassMutual, he was responsible for the management of the company’s general account and a key advisor on the company’s overall business strategy. In addition to serving as Chairman and CEO of Babson Capital Management LLC, he also served as Chairman of Cornerstone Real Estate Advisers LLC and as a member of the Board of Directors of Oppenheimer Acquisition Corp.

Mr. Reese holds a B.A. from Gettysburg College and an M.B.A. from the Amos Tuck School of Business Administration at Dartmouth College. He currently serves on the Board of Directors for the American Council of Life Insurers and the Board of Directors for the Economic Development Council of Western Massachusetts.

Mr. Birle has served on MassMutual’s Board since 1992. In the summer of 2005, Mr. Birle assumed the position of non-executive Chairman and directed the process of making MassMutual a leader in the area of corporate governance and transparency to policyholders. As Lead Director, a newly created position, Mr. Birle will preside over certain Board meetings, serve as the chief liaison between the Board’s independent directors and the Chairman, and provide Board leadership on other matters from time to time. The full responsibilities of the Lead Director will be posted on the Corporate Governance section of MassMutual’s Web site, www.massmutual.com.

Mr. Reese commented: “Jim Birle drove the creation of best-in-class corporate governance at MassMutual in an incredibly short time-frame. The company, its employees, and our policyholders and customers are indebted to him for his vision and passion in this transformation.”

Mr. Birle, 70, is a former Senior Vice President and Group Executive of the General Electric Company (G.E.), and held various operational and international positions over a 30-year tenure at G.E. Mr. Birle left G.E. in 1988 to become General Partner at Blackstone Group. He is currently founder and Chairman of Resolute Partners, LLC. He received his B.S. in Mechanical Engineering from Villanova University.

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), MassMutual International LLC and The MassMutual Trust Company, FSB. MassMutual is on the Internet at www.massmutual.com.