Supplement, dated February 1, 1996, to the prospectus, dated May 1, 1995,
of Seligman Growth Fund, Inc. (the "Fund")
Net Asset Value Sales. The Fund may sell Class A shares at net asset value to
present and retired directors, trustees, officers, employees and their spouses
(and family members of the foregoing) of the Fund, the other investment
companies in the Seligman Group, J. & W. Seligman & Co. Incorporated (the
"Manager") and other companies affiliated with the Manager. Family members are
defined to include lineal descendants and lineal ancestors, siblings (and their
spouses and children) and any company or organization controlled by any of the
foregoing. Such sales also may be made to employee benefit and thrift plans for
such persons and to any investment advisory, custodial, trust or other fiduciary
account managed or advised by the Manager or any affiliate. Sales of the Fund
may be made at net asset value to "eligible employee benefit plans" (as defined
in the Fund's prospectus under "Special Programs") of employers who have at
least (i) $1 million invested in the Seligman Group of Mutual Funds or (ii) 50
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.
Referral Fee. Seligman Financial Services, Inc. shall pay broker/dealers, from
its own resources, an additional fee on assets of certain Class A shares of the
Seligman Mutual Funds, including the Fund, 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. The fee, which is paid monthly, is a
percentage of the average daily net asset value of eligible shares based on the
length of time the shares have been invested in a Seligman Fund, as follows: for
shares held up to 1 year, .50% per annum; for shares held more than 1 year up to
2 years, .25% per annum; for shares held from 2 years up to 5 years, .10% per
annum; and nothing thereafter.
Portfolio Manager. Loris D. Muzzatti, who heads the Seligman Growth Team,
has assumed the responsibility as Portfolio Manager of the Fund. Mr. Muzzatti
joined the Manager in 1985 and has been a Managing Director since January 1991.
He has been Vice President of Seligman Capital Fund since October 1987 and
Portfolio Manager of Seligman Capital Fund since December 1988. Mr. Muzzatti is
also Vice President of Seligman Portfolios, Inc. ("SPI") and Portfolio Manager
of SPI's Seligman Capital Portfolio.
EQGR1A-2/96
