Supplement, dated September 24, 1999, to the
Statement of Additional Information, dated June 1, 1999,
of Seligman North Carolina Municipal Series (the "Series")
of Seligman Municipal Series Trust (the "Fund")
The following supersedes the information appearing in the fourth full
paragraph of page 3 of the Series' Statement of Additional Information.
On September 16, 1999, the Fund's Trustees 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).
