SELIGMAN VALUE FUND SERIES INC
497, 1997-05-16
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  Supplement, dated May 15, 1997, to the prospectus, dated April 25, 1997
                               of
           Seligman Value Fund Series, Inc. (the "Fund")


      The  following  supplements  the  information  set forth  in  the  Fund's
prospectus under "Purchase of Shares".


      The  minimum  amount for  initial  investment in each  Series is $500 for
investors who purchase  shares of the Series through Merrill Lynch's MFA or MFA
Select programs.




EQVFS1S-5/97




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