Supplement, dated July 2, 1998, to the prospectus, dated May 1, 1998
of
Seligman Portfolios, Inc. (the "Fund")
The following information supersedes and replaces any contrary information
in the Fund's prospectus.
On June 30, 1998, the shareholders of each of the Seligman Henderson
Portfolios of the Fund approved a Subadvisory Agreement between the Manager and
Henderson Investment Management Limited (the "New Subadviser"). The Fund's prior
subadvisory arrangements with Seligman Henderson Co. terminated on June 30,
1998. The Subadvisory Agreement, which became effective on July 1, 1998,
provides that the New Subadviser will furnish investment advice, research and
assistance with respect to the Seligman Henderson Portfolios' non-U.S.
investments. The Manager shall be responsible for any U.S. investments and has
overall responsibility for the management of the Portfolios.
The New Subadviser, a wholly owned subsidiary of Henderson plc, is
headquartered in the United Kingdom. Henderson plc is a subsidiary of AMP
Limited, an Australian life insurance and financial services company. Under the
new arrangements, the same personnel who provided investment management services
to the Fund on behalf of Seligman Henderson Co., the prior subadviser, shall
continue to do so.
The New Subadviser receives for its services, in respect of each Seligman
Henderson Portfolio, a monthly fee from the Manager. The fee is calculated at an
annual rate of 0.50% of each Portfolio's average monthly assets under the New
Subadviser's supervision. The Subadvisory Agreement provides that it will
continue until December 31, 1999 and, thereafter, is subject to the annual
approval of the Fund's Board of Directors.
The subadvisory fee under these arrangements is paid by the Manager from
its own management fee and will not increase the fees payable by any Portfolio.
PORT1-7/98
<PAGE>
Supplement, dated July 2, 1998, to the
Statement of Additional Information, dated May 1, 1998
of
Seligman Portfolios, Inc. (the "Fund")
The following information supersedes and replaces any contrary information
in the Fund's Statement of Additional Information.
On June 30, 1998, the shareholders of each of the Seligman Henderson
Portfolios of the Fund approved a Subadvisory Agreement between the Manager and
Henderson Investment Management Limited (the "New Subadviser"). The Fund's prior
subadvisory arrangements with Seligman Henderson Co. terminated on June 30,
1998. The Subadvisory Agreement, which became effective on July 1, 1998,
provides that the New Subadviser will furnish investment advice, research and
assistance with respect to the Seligman Henderson Portfolios' non-U.S.
investments. The Manager shall be responsible for any U.S. investments and has
overall responsibility for the management of the Portfolios.
The New Subadviser, a wholly owned subsidiary of Henderson plc, is
headquartered in the United Kingdom. Henderson plc is a subsidiary of AMP
Limited, an Australian life insurance and financial services company. Under the
new arrangements, the same personnel who provided investment management services
to the Fund on behalf of Seligman Henderson Co., the prior subadviser, shall
continue to do so.
The New Subadviser receives for its services, in respect of each Seligman
Henderson Portfolio, a monthly fee from the Manager. The fee is calculated at an
annual rate of 0.50% of each Portfolio's average monthly assets under the New
Subadviser's supervision. The Subadvisory Agreement provides that it will
continue until December 31, 1999 and, thereafter, is subject to the annual
approval of the Fund's Board of Directors.
The subadvisory fee under these arrangements is paid by the Manager from
its own management fee and will not increase the fees payable by any Portfolio.
PORT1-7/98
