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      PAGE  6
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SIGNATURE   CHARLES C. MCCOBB, JR.                       
TITLE       V.P. AND C.F.O.     

                           EXHIBIT INDEX TO FORM N-SAR
                      OF MASSMUTUAL PARTICIPATION INVESTORS
                   FOR SEMI-ANNUAL PERIOD ENDED JUNE 30, 2005


EXHIBIT NO.                   DESCRIPTION

77E               Legal Proceedings

77O               Transactions Effected Pursuant to Rule 10f-3

77Q1(a)           Material Amendments to the Registrant's By-laws