Supplement, dated October 3, 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")
THIS SUPPLEMENT SUPERSEDES AND REPLACES THE PROSPECTUS
SUPPLEMENT DATED JULY 30, 1996.
At a Joint Special Meeting of Shareholders held on September 30, 1996,
the shareholders of each Fund (or where applicable, each series of a Fund)
approved a change in a fundamental policy such that, under normal market
conditions, each Fund or Series would invest atleast 80% of its net assets in
debt securities the interest on which is exempt from regular federal income tax,
and an elimination of a corresponding investment restriction of each such Fund
or Series to permit the investment of any portion of its net assets in
tax-exempt securities subject to the federal alternative minimum tax ("AMT").
In connection with shareholder approval of the foregoing, the Board of
Directors/Trustees of each Fund has also approved a change in name for 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-10/96
