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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001072613-04-001604.txt : 20040830
<SEC-HEADER>0001072613-04-001604.hdr.sgml : 20040830
<ACCEPTANCE-DATETIME>20040830102526
ACCESSION NUMBER:		0001072613-04-001604
CONFORMED SUBMISSION TYPE:	NSAR-A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040630
FILED AS OF DATE:		20040830
DATE AS OF CHANGE:		20040830
EFFECTIVENESS DATE:		20040830

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MASSMUTUAL PARTICIPATION INVESTORS
		CENTRAL INDEX KEY:			0000831655
		IRS NUMBER:				043025730
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NSAR-A
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05531
		FILM NUMBER:		041004006

	BUSINESS ADDRESS:	
		STREET 1:		1295 STATE STREET
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01111
		BUSINESS PHONE:		4137446118

	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
</SEC-HEADER>
<DOCUMENT>
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<SEQUENCE>1
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<DESCRIPTION>MASSMUTUAL PARTICIPATION INVESTORS
<TEXT>
<PAGE>      PAGE  1
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001 A000000 MASSMUTUAL PARTICIPATION INVESTORS
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002 C000000 MA
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012 C040001 3673
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013 B040001 2371
<PAGE>      PAGE  2
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015 B000001 C
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<PAGE>      PAGE  3
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022 C000004     18608
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022 B000005 13-2518466
022 C000005     13717
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022 B000006 36-3595942
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022 B000007 94-1737782
022 C000007      3190
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022 B000008 11-2418191
022 C000008      1203
022 D000008      1448
022 A000009 HKW & COMPANY
022 B000009 13-1769063
022 C000009      2625
022 D000009         0
022 A000010 SPEAR, LEEDS & KELLOGG
022 B000010 13-2730828
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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SIGNATURE   CHARLES C. MCCOBB, JR.
TITLE       V.P. AND C.F.O.
<PAGE>
                           EXHIBIT INDEX TO FORM N-SAR
                      OF MASSMUTUAL PARTICIPATION INVESTORS
                   FOR SEMI-ANNUAL PERIOD ENDED JUNE 30, 2004


EXHIBIT NO.                   DESCRIPTION

77E               Legal Proceedings



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77(E)
<SEQUENCE>2
<FILENAME>item-77e_12809.txt
<DESCRIPTION>LEGAL PROCEEDINGS
<TEXT>
                                                                        ITEM 77E
                                                                        --------

                               LEGAL PROCEEDINGS


The Registrant, together with other investors, including Massachusetts Mutual
Life Insurance Company (the parent of Registrant's investment advisor), is a
plaintiff in litigation connected with private placement investments made by the
Registrant in Sharp International Corporation ("Sharp"). Three managing
shareholders of Sharp, which is currently being liquidated in Chapter 11
liquidation proceedings, have pleaded guilty to criminal fraud charges.
Initially, two separate civil lawsuits were brought in New York State Court in
an attempt to recover damages for lost investment funds from Sharp's working
capital lender and auditors. The first lawsuit involving Sharp's working capital
lender was dismissed prior to trial. An appeal of this dismissal was
unsuccessful. The discovery and deposition components of the second related
lawsuit against Sharp's auditors, KPMG, LLP, have been completed. The parties to
this lawsuit, including the Registrant, agreed to submit the matters which are
the subject of the lawsuit to a non-binding mediation proceeding. However, the
parties were unable to resolve these matters through mediation. The trial is
scheduled to begin early in 2005. The Registrant is unable to estimate any
potential recovery from this lawsuit as of June 30, 2004.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
