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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000225602-01-000002.txt : 20010209
<SEC-HEADER>0000225602-01-000002.hdr.sgml : 20010209
ACCESSION NUMBER:		0000225602-01-000002
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20010208

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MASSMUTUAL PARTICIPATION INVESTORS
		CENTRAL INDEX KEY:			0000831655
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				043025730
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		
		SEC FILE NUMBER:	005-45133
		FILM NUMBER:		1527921

	BUSINESS ADDRESS:	
		STREET 1:		1295 STATE ST
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01111
		BUSINESS PHONE:		4137888411

	MAIL ADDRESS:	
		STREET 1:		1295 STATE STREET
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01111

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MASSMUTUAL CORPORATE INVESTORS II
		DATE OF NAME CHANGE:	19880417

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MASSACHUSETTS MUTUAL LIFE INSURANCE CO
		CENTRAL INDEX KEY:			0000225602
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				041590850
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		1295 STATE ST  B050
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01111
		BUSINESS PHONE:		4137448411
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>0001.txt
<TEXT>


                         UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                          SCHEDULE 13G

            Under the Securities Exchange Act of 1934

                      (Amendment No. 2)*

                MassMutual Participation Investors
_________________________________________________________________
                        (Name of Issuer)

                         Common Stock
_________________________________________________________________
                   (Title of Class of Securities)

                          576299101
_________________________________________________________________
                        (CUSIP Number)

                       December 31, 2000
_________________________________________________________________
       (Date of Event Which Requires Filing of This Statement)

Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:

[X] Rule 13d-1(b)

[ ] Rule 13d-1(c)

[ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures in a
prior cover page.

The information required in the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the
Exchange Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).









Page 1 of 4 Pages

<PAGE>

CUSIP No. 576299101
___________________________________________________________________________
1.   Name of Reporting Person:

     MassMutual Life Insurance Company

     I.R.S. Identification No. of above person:  02-1590850
___________________________________________________________________________
2.   Check the Appropriate Box if a Member of a Group:  N/A
___________________________________________________________________________
3.   SEC Use Only

___________________________________________________________________________
4. Citizenship or Place of Organization:

          Commonwealth of Massachusetts
___________________________________________________________________________

Number of           5. Sole Voting Power:      1,103,165 Shares
Shares Beneficially _______________________________________________________
Owned by Each       6. Shared Voting Power:       0      Shares
Reporting Person    ________________________________________________________
With:               7. Sole Dispositive Power: 1,103,165 Shares
                    ________________________________________________________
                    8. Shared Dispositive Power   0      Shares
____________________________________________________________________________

9.   Aggregate Amount Beneficially Owned by Each Reporting
     Person:

                   1,103,165 Shares

     MassMutual holds a $12,000,000 Convertible Senior Note Due July
     15, 2002, which is convertible into an equivalent dollar amount
     of common shares, and 17,192 shares Beneficial Interest.
____________________________________________________________________________
10.  Check if the Aggregate Amount in Row (9) Excludes
     Certain Shares (See Instructions).

                                   N/A
____________________________________________________________________________

11.  Percent of Class Represented by Amount in Row (9): 10.6%

___________________________________________________________________________

12.  Type of Reporting Person: IC

___________________________________________________________________________



                                              Page 2 of 4 Pages

<PAGE>



Item 1. (a)    Name of Issuer:

               MassMutual Participation Investors

        (b)    Address of Issuers Principal Executive Offices:

               1295 State Street
               Springfield, MA  01111

Item 2. (a)    Name of Person Filing:

               MassMutual Life Insurance Company

        (b)    Address of Principal Business Office:

               1295 State Street
               Springfield, MA   01111

        (c)    Citizenship:

               Organized under the laws of the Commonwealth of
               Massachusetts

        (d)    Title of Class of Securities:

               Common Shares

        (e)    CUSIP Number:   576299101

Item 3. If this statement is filed pursuant to 240.13d-1(b) or
        240.13d-2(b) or (c), person filing is:

       (c) An Investment Adviser in accordance with
           240.13d1(b)(1)(ii)(E)

Item 4. Ownership

       (a) Amount beneficially owned:    1,103,165 Shares
       (b) Percent of class:              10.6%
       (c) Number of shares as to which the person has:

          (i)   Sole power to vote or to direct the vote: 1,103,165
                Shares
          (ii)  Shared power to vote or to direct the vote: 0 shares
          (iii) Sole power to dispose or to direct the disposition of:
                1,103,165 Shares
          (iv)  Shared power to dispose or to direct the disposition of: 0
                Shares

Item 5. Ownership of Five Percent or Less of a Class: N/A

Item 6. Ownership of More than Five Percent on Behalf of
        Another Person: N/A

Item 7. Identification and Classification of the Subsidiary which
        Acquired the Security Being Reported on by the Parent Holding
        Company:  N/A
                                                     Page 3 of 4 Pages

<PAGE>

Item 8.   Identification and Classification of Members of the
          Group: N/A

Item 9.   Notice of Dissolution of the Group: N/A

Item 10.  Certification

By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any
transaction having that purpose or effect.

After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is
true, complete and correct.


February 7, 2001


// Stephen Kuhn //



Stephen Kuhn
Senior Vice President and
Deputy General Counsel

















                                                               Page 4 of 4 Pages




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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