UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 29549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
Check here if Amendment [ ] ; Amendment Number:
This Amendment (Check only one.) : [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Massachusetts Mutual Life Insurance Company
Address: 1295 State Street
Springfield, Massachusetts 01111-0001
13F File Number: 28-548
The institutional investment manager filing this report and
the person by whom it is signed hereby represent that
the person signing the report is authorized to
submit it, that all information contained herein is
true, correct, and complete, and that it is
understood that all required items, statements,
schedules, lists, and tables, are considered
integral parts of this form.
Person Signing this Report on Behalf of Reporting
Manager:
Name: David E. Fusco
Title: Compliance Director
Phone: 413-744-7410
Signature, Place, and Date of Signing:
/s/ David E. Fusco
Springfield, Massachusetts
May 13, 1999
Report Type (Check only one.):
[x] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of Other Managers Reporting for this
Manager: NONE
<PAGE>
FORM 13F
SUMMARY PAGE Report Summary:
Number of Other Included Managers: None (See note below)
Form 13F Information Table Entry Total: 39
Form 13F Information Table Value Total: 115,976,000
List of Other Included Managers:
Please note that in the past Form 13F's were filed by Massachusetts
Mutual Life Insurance Company ("MassMutual") on behalf of David L. Babson
and Company Inc. ("Babson") and OppenheimerFunds Inc. ("Oppenheimer").
Babson and Oppenheimer are indirect, majority-owned subsidiaries
of MassMutual. For this filing, and future filings, Babson and
Oppenheimer will file Form 13F's on their own behalf.
Babson and Oppenheimer have indicated that they exercise "sole"
investment discretion with respect to the securities positions
reported in their respective Form 13F's. Nevertheless, such
positions shall also be deemed reported on behalf of MassMutual
to the extent that MassMutual may be deemed to "share" investment
discretion over the positions as a result of its ownership
interests in Babson and Oppenheimer.
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
<CAPTION>
Name of Issuer Title CUSIP Value Shrs or SH/ Put/ INVSTMT Other Voting Authority
Of Class (x$100) Prn amt PRN Call DSCRETN Mgrs Sole Shared None
____________________________________________________________________________________________________________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A M R Corporation COM 001765106 524 7,500 Sole 7,500
American Country COM 025278102 72 56,000 Sole 56,000
Amerisource Health COM CL A 03071P102 346 12,500 Sole 12,500
Associated Material COM 045709102 641 49,749 Sole 49,749
Budget Group COM CL A 119003101 1,187 95,456 Sole 95,456
Collins & Aikman COM 194830105 273 57,500 Sole 57,500
Complete Business COM 20452F107 186 8,333 Sole 8,333
Concentra Man Care SB NT CV 20589TAC7 5,829 6,462,000 Sole X
Continental Air COM CL B 210795308 2,159 50,000 Sole 50,000
Correctional Serv COM 219921103 242 26,836 Sole 26,836
Cymer Inc. SB NT CV 232572AC1 1,616 2,000,000 Sole X
Dura Pharmaceutical SB NT CV 26632SAA7 3,126 4,225,000 Sole X
Emcor Group SB NT CV 29084QAC4 4,048 4,350,000 Sole X
Excalibur Technol COM 300651205 388 25,000 Sole 25,000
Family Golf Centers SB NT CV 30701AACO 6,300 10,600,000 Sole X
Florida Panthers COM CL A 341064103 577 64,999 Sole 64,999
Gulf Cananda Res ORD 40218L305 333 83,325 Sole 83,325
Healthplan Services COM 421959107 126 19,372 Sole 19,372
Healthsouth SB DB CV 421924AF8 1,273 1,500,000 Sole X
Hewlett-Packard SB LYON 428236AA1 13,861 23,840,000 Sole X
Hilton Hotels Corp SB NT CV 432848AL3 10,049 10,170,000 Sole
Interim Services SB NT CV 45868PAA8 8,030 9,800,000 Sole X
Irwin Naturals/4Hea COM 464142108 144 38,500 Sole 38,500
Kellstrom Inds SB NT CV 488035AE6 9,686 11,800,000 Sole X
Lund Intl Holdings COM 550368104 442 78,857 Sole 78,857
Magna International SB DB CV 559222AG9 11,094 10,850,000 Sole X
Mascotech Inc. SB DB CV 574670AB1 4,936 6,380,000 Sole X
Midway Airlines COM 598126100 391 41,663 Sole 41,663
Noel Group COM 655260107 59 95,000 Sole 95,000
Oak Industries SB NT CV 671400AL3 5,249 4,350,000 Sole X
Owens-Illinois CONV PRE 690768502 2,476 61,120 Sole X
Oxford Health Plans COM 691471106 748 37,500 Sole 37,500
Pathways Group Inc. COM 70321D106 386 44,080 Sole 44,080
Reptron Electronics SB NT CV 76026WAA7 450 1,200,000 Sole X
Republic Services COM CL A 760759100 2,185 106,250 Sole 106,250
Savoy Pictures Ent SB DB CV 805375AA0 7,032 7,175,000 Sole X
Swiss Army Brands COM 870827102 518 60,000 Sole 60,000
Tower Automotive SB NT CV 891707AE1 803 750,000 Sole X
World Color Press SR SB NT 981443AA2 8,191 8,615,000 Sole X
</TABLE>
