Supplement, dated September 24, 1999, to the
Statement of Additional Information, dated June 1, 1999,
of Seligman Municipal Fund Series, Inc. (the "Fund")
The following supersedes the information appearing in the sixth
paragraph of page 3 of the Fund's Statement of Additional Information.
On September 16, 1999, the Fund's Board of Directors eliminated the
non-fundamental policy which prohibited each Series of the Fund, with respect
to 75% of the value of its assets, from purchasing any revenue bonds if, as a
result of such purchase, more than 5% of the Series' assets would be invested
in the revenue bonds of a single issuer. However, each Series remains subject
to a fundamental policy which prohibits each Series, with respect to 50% of the
value of its total assets, from purchasing the securities of any one issuer if,
as a result of such purchase, more than 5% of the Series' total assets (at
market value) would be invested in the securities of a single issuer (except
that this limitation does not apply to obligations issued or guaranteed by the
US Government or its agencies or instrumentalities).
