Supplement, dated September 18, 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."
There is no minimum investment required for investors who purchase shares
of the Series through wrap fee programs.
------------------------------
The following supersedes and replaces the information for the Seligman
Large-Cap Value Fund under "Annualized Series Operating Expenses" on page 2 of
the Fund's prospectus:
Annualized Series Operating Expenses
(as a percentage of average net assets) Class A Class B Class D
Management Fees ........................ .80% .80% .80%
12b-1 Fees ............................. .25% 1.00%** 1.00%**
Other Expenses (after reimbursement)* . .45% .45% .45%
--- --- ---
Total Operating Expenses ............... 1.50% 2.25% 2.25%
==== ==== ====
The expense table and the example below for the Large-Cap Value Fund
reflect a voluntary undertaking by the Manager and the Subadviser to reimburse a
portion of "Other Expenses" such that total operating expenses for the current
fiscal period will not exceed annualized rates of 1.50%, 2.25%, and 2.25% of the
average net assets of the Class A, Class B, and Class D shares, respectively. In
the absence of these undertakings, it is estimated that "Total Operating
Expenses" would equal approximately 2.32%, 3.07%, and 3.07%, for Class A, Class
B, and Class D shares, respectively. There is no guarantee that these
undertakings will continue past the end of the current fiscal period.
<TABLE>
<CAPTION>
Example
<S> <C> <C>
An investor would pay the following expenses on a $1,000 investment, assuming 1 year 3 years
(1) a 5% annual return and (2) redemption at the end of each time period...... Class A $62 $94
Class B+ $73 $100
Class D $33++ $70
</TABLE>
The example should not be considered a representation of past or future
expenses. Actual expenses may be greater or less than those shown and the 5%
annual return used in this example is a hypothetical rate.
* Estimated based on expenses for the current fiscal period.
** Includes an annual distribution fee of up to .75% and an annual service
fee of up to .25%. Pursuant to the Rules of the National Association of
Securities Dealers, Inc., the aggregate deferred sales loads and annual
distribution fees on Class B and Class D shares of the Series may not exceed
6.25% of total gross sales, subject to certain exclusions. The maximum sales
charge rule is applied separately for each class. The 6.25% limitation is
imposed on the Series rather than on a per shareholder basis. Therefore, a
long-term Class B or Class D shareholder of the Series may pay more in total
sales loads (including distribution fees) than the economic equivalent of
6.25% of such shareholder's investment in such shares.
+ Assuming (1) a 5% annual return and (2) no redemption at the end of the
period, the expenses on a $1,000 investment would be: $23 for 1 year and
$70 for 3 years.
++ Assuming (1) a 5% annual return and (2) no redemption at the end of one
year, the expenses on a $1,000 investment would be: $23.
EQVS5-9/97
