Supplement, dated July 30, 1996, to the prospectuses, dated April 22, 1996,
of Seligman Capital Fund, Inc.,
Seligman Cash Management Fund, Inc.,
Seligman Common Stock Fund, Inc.,
Seligman Communications and Information Fund, Inc.,
Seligman Growth Fund, Inc.,
Seligman High Income Fund Series, Inc.
and
Seligman Income Fund, Inc. (each, a "Fund")
The following replaces each Fund's policy with respect to (i) net asset
value sales for "eligible employees benefit plans" (as defined in each Fund's
prospectus under "Special Programs") which have at least $1 million invested in
the Seligman Group of Mutual Funds or at least 50 eligible employees to whom
such plan is made available and (ii) additional compensation paid to
broker/dealers by Seligman Financial Services, Inc. on sales of Fund shares to
eligible employee benefit plans as described under "Class A Shares-Initial Sales
Load" in each Fund's prospectus.
Net Asset Volume Sales with Contingent Deferred Sales Charge. Each Fund may sell
Class A shares at net asset value to eligible employee benefit plans of
employees who have at least (i) $500,000 invested in the Seligman Group of
Mutual Funds or (ii) 50 eligible employees to whom such plan is made available.
Section 403(b) plans sponsored by public educational institutions are not
eligible for net asset value purchases based on the aggregate investment made by
the plan or number of eligible employees. Employee benefit plans eligible for
net asset sales, as described above, will be subject to a contingent deferred
sales charge of 1.00% for terminations at the plan level only, within 18 months
of sales. Sales pursuant to the Merrill Lynch MLII multi-manager 401(k) product
are available at net asset value and are not subject to a contingent deferred
sales charge.
Broker/Dealer Compensation. Seligman Financial Services, Inc. shall pay
broker/dealer, from its own resources, an additional fee on assets of certain
Class A shares of the Seligman Mutual Funds, including the Funds, participating
in an eligible employee benefit plan that are attributable to the particular
broker/dealer. The shares eligible for the fee are those which meet the
eligibility standards for net asset value sales, as set forth above, except for
Class A shares representing only an initial purchase of Seligman Cash Management
Fund, Inc. Such shares will become eligible for the fee once exchanged for
shares of another Seligman Mutual Fund. The payment is based on cumulative sales
during a calendar year, or portion thereof. The payment schedule, for each
calendar year, is as follows: 1.00% of sales up to $2 million; .80% of sales
from $2 million to $3 million; .50% of sales from $3 million to $5 million; and
.25% of sales from $5 million and above.
EQTXS-7/96
