PANORAMA SEPARATE ACCOUNT
SUPPLEMENT DATED SEPTEMBER 13, 1995
TO PROSPECTUS DATED APRIL 28, 1995
This supplement should be read in conjunction with the Panorama Separate
Account prospectus, a copy of which can be obtained by writing to or calling
the Annuity Service Center, P.O. Box 13217, Kansas City, MO. 64199 (1-800-
343-5629).
The Boards of Directors of Connecticut Mutual Life Insurance Company ("CML")
and Massachusetts Mutual Life Insurance Company ("MassMutual") have approved a
plan of merger pursuant to which CML would merge with and into MassMutual.
The merger agreement was signed on September 13, 1995. The merger is expected
to be consummated on or about December 31, 1995, subject to the approval of
certain policy holders and insureds of CML and MassMutual and applicable
regulatory authorities. As a result of the merger, MassMutual, would become
the nation's fifth largest mutual life insurance company with a strong capital
position, a diverse product portfolio and a competitive cost structure.
If the merger is consummated, the Panorama Separate Account will become a
separate account of MassMutual. All Panorama contracts will remain
outstanding in accordance with their terms. Information concerning MassMutual
will be sent to Panorama contract holders shortly after the merger is
effective.
________________________________________________________________________
CONNECTICUT MUTUAL FINANCIAL SERVICES SERIES FUND I, INC.
SUPPLEMENT DATED SEPTEMBER 13, 1995
TO PROSPECTUS DATED MAY 1, 1995
This supplement should be read in conjunction with the prospectus for
Connecticut Mutual Financial Services Series Fund I, Inc. (the "Fund"), a copy
of which can be obtained by contacting the above-referenced service center.
G. R. Phelps & Co., Inc. (the "Adviser"), which is a wholly-owned subsidiary
of Connecticut Mutual Life Insurance Company ("CML"), serves as investment
adviser to the Fund. The Boards of Directors of CML and Massachusetts Mutual
Life Insurance Company ("MassMutual") have approved a plan of merger pursuant
to which CML would merge with and into MassMutual. The merger agreement was
signed on September 13, 1995. The merger, if consummated, will result in the
Adviser becoming a wholly-owned subsidiary of MassMutual. The merger is
expected to be consummated on or about December 31, 1995, subject to the
approval of certain policy holders and insureds of CML and MassMutual and
applicable regulatory authorities. As a result of the merger, MassMutual,
would become the nation's fifth largest mutual life insurance company with a
strong capital position, a diverse product portfolio and a competitive cost
structure.
Consummation of the merger may result in an assignment, and consequently a
termination, of the existing investment management agreement between the
Adviser and the Fund. Accordingly, Fund shareholders will be asked to vote on
a new investment management agreement with the Adviser to become effective at
or about the time the transaction is completed.
Further details will be included in proxy materials to be furnished to Fund
shareholders in
connection with a meeting of shareholders expected to be held later this year.
