Supplement, dated July 30, 1996, to the prospectus, dated February 1, 1996,
of Seligman New Jersey Tax-Exempt Fund, Inc., Seligman Pennsylvania
Tax-Exempt Fund Series, Seligman Tax-Exempt Fund Series, Inc. and Seligman
Tax-Exempt Series Trust (each, a "Fund")
The Board of Directors/Trustees of each Fund has unanimously approved
and recommended to shareholders for approval at a special meeting of
shareholders to be held on September 30, 1996, a change in a fundamental policy
and an elimination of a corresponding investment restriction of each Fund (or
where applicable, each Series of a Fund) to permit the investment of any portion
of a Fund's or Series' net assets in tax-exempt securities subject to the
federal alternative minimum tax ("AMT"). Currently, no more than 20% of assets
of a Fund or Series, as applicable, may be invested in tax-exempt securities
subject to AMT. The Board of Directors/Trustees has also approved, subject to
shareholder approval of the foregoing, a change in name of each Fund and Series
that would replace the words "tax-exempt" with "municipal" in order to comply
with the position of the staff of the Securities and Exchange Commission that a
fund which invests more than 20% of its assets in tax-exempt securities subject
to AMT may not contain the words "tax-exempt" in its name.
TXALLS-7/96
