MassMutual Announces New Multicultural Scholarship Program for African-American, Asian/Pacific or Hispanic Students

WALNUT CREEK, Calif.--(BUSINESS WIRE)--Massachusetts Mutual Life Insurance Company (MassMutual) today announced the launch of a new national multicultural scholarship program that will offer $60,000 in scholarships and potential internship opportunities in financial services to outstanding college students of color. The San Francisco Bay Area is one of the four metropolitan areas piloting the program.

Beginning this month, students of African-American, Asian/Pacific Islander, or Hispanic descent who reside in the San Francisco Bay Area or the Atlanta, Houston, Los Angeles metropolitan areas can apply for one of 12 $5,000 college scholarships. These students must have concentrations in the fields of accounting, business, economics, finance, marketing, math or statistics.

MassMutual is collaborating with the San Francisco Bay Area Insurance Agency, the local general agency, to provide three scholarships to Bay Area students. Three scholarships will be awarded in each of the targeted metropolitan areas. The program will be administered by the Hispanic Scholarship Fund (HSF). In its 33-year history, HSF has awarded in excess of 86,000 scholarships worth more than $250 million to Latinos attending nearly 2,000 colleges and universities in all 50 states, Puerto Rico, Guam and the U.S. Virgin Islands.

“We are very happy to be one of the four metropolitan areas selected to participate in the scholarship program,” said Robert Fakhimi, CEO and Managing Partner, San Francisco Bay Area Insurance Agency. “We will be carefully working with local colleges and universities to find outstanding students who meet the scholarship criteria to encourage them to apply and develop careers in the financial services field.”

“We are grateful that MassMutual is collaborating with HSF,” said Frank D. Alvarez, HSF President and CEO. “With this program, MassMutual recognizes that an investment in youth pays measurable returns for the communities where we live and work. These funds bring HSF one step closer to its mission of supporting the educational aspirations of multiple ethnic communities. We salute MassMutual for expanding opportunities for more students and increasing diversity at more college campuses.”

To be eligible, students must be of African-American, Asian/Pacific Islander, or Hispanic descent, be a sophomore, junior or senior enrolled full-time at a U.S. accredited college or university majoring in accounting, business, economics, finance, marketing, math or statistics, have a minimum GPA of 3.0, and reside in the Atlanta, Houston, Los Angeles or San Francisco metropolitan areas. Select agencies will offer internship opportunities to scholarship recipients providing them exposure to a career in financial services.

To apply, students can visit www.hsf.net/massmutual.aspx. The deadline for applications is February 18, 2009. Recipients will be announced in June 2009.

About the San Francisco Bay Area Insurance Agency LLC

Founded in 1891, San Francisco Bay Area Insurance Agency LLC is a significant contributor to the local economy, as shown by the following figures about the San Francisco Bay Area Insurance Agency (as of December 31, 2007):

• More than 36,000 policyholders and clients;
• Managing over $1 billion in assets (including assets and certain external investment funds managed by MassMutual and its subsidiaries)
• More than $3.8 billion in life insurance face amount in force

Robert Fakhimi is CEO and Managing Partner of the San Francisco Bay Area Insurance Agency LLC. Mr. Fakhimi can be reached at 888-803-3631, ext. 320 or by e-mailing him at rfakhimi@finsvcs.com. Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, Inc. 2121 N. California Boulevard, Suite 395. Walnut Creek, CA 94596, (925) 979-2300.

About MassMutual Financial Group

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual and its subsidiaries had more than $500 billion in assets under management at year-end 2007. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.

Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., member FINRA and SIPC (www.finra.org and www.sipc.org); MassMutual International LLC and The MassMutual Trust Company, FSB. MassMutual is on the Internet at www.massmutual.com.

About the Hispanic Scholarship Fund

Founded in 1975 as a not-for-profit, the Hispanic Scholarship Fund (HSF) is the nation's preeminent Latino scholarship organization, providing the Latino community more college scholarships and educational outreach support than any other organization in the country. During the 2007-2008 academic year, HSF awarded almost 4,100 scholarships exceeding $26.7 million. In its 33-year history, HSF has awarded in excess of 86,000 scholarships, worth more than $250 million, to Latinos attending nearly 2,000 colleges and universities in all 50 states, Puerto Rico, Guam and the U.S. Virgin Islands. For more information about HSF, please visit: WWW.HSF.NET.