Supplement, dated October 3, 1996, to the prospectus, dated May 1, 1996 of
Seligman Portfolios, Inc. (the "Fund")
THIS SUPPLEMENT SUPERSEDES AND REPLACES THE PROSPECTUS
SUPPLEMENT DATED JULY 30, 1996.
At a Special Meeting of Shareholders held on September 30, 1996, the
shareholders approved a change in the investment objective of the Fund's
Seligman Henderson Global Portfolio (the "Global Portfolio") from that of a
"global" fund to that of an "international" fund. Therefore, the investment
objective of the Global Portfolio has been changed to long-term capital
appreciation primarily through international investments (rather than global
investments) in securities of medium to large-sized companies. The Global
Portfolio's former policy of investing at least 65% of its assets in securities
of issuers located in at least three different countries, one of which may be
the U.S., has been changed to a policy that the Global Portfolio invests at
least 65% of its assets in securities of issuers located in at least three
different countries, not including the U.S.
In connection with shareholder approval of the foregoing, the Board of
Directors has approved a change in the name of the Global Portfolio to "Seligman
Henderson International Portfolio" in order to more accurately reflect its new
investment objective.
The Board of Directors of the Fund has also approved a change in the
name of the "Seligman Fixed Income Securities Portfolio" to "Seligman Bond
Portfolio." This change has been made to avoid investor confusion with the Fixed
Account option offered in connection with certain variable annuity contracts for
which the Fund is the underlying investment medium.
Odette Galli and Rodney Collins have joined Charles C. Smith, Jr. as
Co-Portfolio Managers of the Fund's Seligman Common Stock Portfolio and
Seligman Income Portfolio, receptively. Stacey G. Navin will no longer be
serving as Co-Portfolio Manager of these portfolios.
Ms. Galli is a Vice President, Investment Officer of J. & W.
Seligman & Co. Incorporated (the "Manager"), a position she has held since
joining the Manager in 1993. Prior to 1993, Ms. Galli worked as an equity
research analyst for Morgan Stanley & Co.. Ms. Galli will also be serving
as Co-Portfolio Manager of Seligman Common Stock Fund, Inc. and
Tri-Continental Corporation.
Mr. Collins is a Vice President, Investment Officer of the Manager.
He joined the Manager in 1992 as an investment associate. Mr. Collins will also
be serving as Co-Portfolio Manager of Seligman Income Fund, Inc.
RVAS-10/96
