CONNECTICUT MUTUAL INVESTMENT ACCOUNTS, INC.
(the "Company")
SUPPLEMENT DATED NOVEMBER 20, 1995 TO THE PROSPECTUS
Dated October 1, 1995
Connecticut Mutual Liquid Account
Class A and Class B Shares
Connecticut Mutual Government Securities Account
Connecticut Mutual Income Account
Connecticut Mutual Total Return Account
Connecticut Mutual Growth Account
At a meeting of the Company's Board of Directors on November 17, 1995, the
Board approved several changes to the management of the Company and the
Accounts in anticipation of the merger (the "Merger") between Connecticut
Mutual Life Insurance Company ("Connecticut Mutual") and Massachusetts
Mutual Life Insurance Company ("Massachusetts Mutual"). Connecticut Mutual
is the indirect parent company of G.R. Phelps & Co., Inc. ("G.R. Phelps"), the
current investment adviser to all Accounts. The Merger is expected to be
consummated during the first three months of 1996.
The Board has approved the following changes subject to consummation of
the Merger and to the approval of the Accounts' shareholders:
* The selection of Oppenheimer Management Corporation ("Oppenheimer"),
Two World Trade Center, New York, NY, as the investment adviser to all
Accounts. Oppenheimer is a registered investment adviser, which
together with its affiliates, has over $38 billion under management.
Oppenheimer is an indirect subsidiary of Massachusetts Mutual.
(Effective immediately upon consummation of the Merger and approval
by shareholders.)
The rate of the investment management fee applicable to each Account
will not change as a result of Oppenheimer's assumption of management
of the Accounts.
* The selection of Oppenheimer Funds Distributor, Inc. ("OFD"), an
affiliate of Oppenheimer, as the principal underwriter of the Accounts'
shares. (Effective no later than 90 days after the consummation of the
Merger and approval by shareholders.)
* The amendment of each Account's (except Liquid Account) Class A Rule
12b-1 distribution plan to permit the payment of service fees to OFD and
others, including affiliates of OFD ("Qualified Recipients"). (Effective
no later than 90 days after the consummation of the Merger and approval
by shareholders.)
The maximum level of payment to OFD and Qualified Recipients pursuant
to the Class A Rule 12b-1 plans will not be increased from the present
maximum level.
* The amendment of each Account's (except Liquid Account) Class B Rule
12b-1 distribution plan to permit OFD and Qualified Recipients to be
compensated for expenditures under the Class B Rule 12b-1 plan for the
full amount of the authorized payment. (Effective no later than 90 days
after the consummation of the Merger and approval by shareholders.)
The maximum level of payment to OFD and Qualified Recipients pursuant
to the Class B Rule 12b-1 plans will not be increased from the present
maximum level.
* The proposed reorganization of Liquid Account, Government Securities
Account and Income Account, respectively, into mutual funds currently
managed by Oppenheimer with comparable investment objectives and
policies.
* The nomination of twelve (12) new directors to serve as the Company's
Board of Directors. (Effective 90 days after the consummation of the
Merger and approval by shareholders.)
The Board has also approved the appointment of Oppenheimer Shareholder
Services as the Company's transfer agent and shareholder servicing agent.
Until the transition to full service by Oppenheimer and its affiliates to
the Accounts is completed during the 90 day period after the consummation of
the Merger, distribution services will continue to be provided by Connecticut
Mutual Financial Services, L.L.C. (the current distributor) and transfer
agency and shareholder services will be provided by National Financial Data
Services (the current transfer agent). The Liquid Account's existing Rule 12b-1
plan will remain in effect after the Merger, except that OFD will be authorized
to receive payments under the plan at such time as OFD assumes responsibility
for distribution services.
November 20, 1995
