Supplement, dated April 4, 2000,
to the Prospectus, dated May 1, 1999,
as supplemented January 21, 2000
of
Seligman Portfolios, Inc. (the "Fund")
This supplement supersedes and replaces in its entirety the supplement dated
January 21, 2000.
The following supersedes the related information set forth in the Fund's
prospectus.
On January 21, 2000, pursuant to authorization from the Fund's Board of
Directors, J. & W. Seligman & Co. Incorporated, manager of the Fund
("Seligman"), gave notice to Henderson Investment Management Limited ("HIML") of
its termination, effective as of the close of business on March 31, 2000, of the
Subadvisory Agreement between Seligman and HIML in respect of the Seligman
Henderson International Portfolio, the Seligman Henderson Global Growth
Opportunities Portfolio, and the Seligman Henderson Global Technology Portfolio
(the "Portfolios"). At this time, HIML will continue to act as subadvisor with
respect to the Seligman Henderson Global Smaller Companies Portfolio.
International advisory services will be provided to the Portfolios by Seligman's
Global Growth Team or Global Technology Team, as described below. During the
notice period, HIML will continue to provide the Portfolios with investment
advice, research and assistance with respect to their non-US investments,
subject to Seligman's overall supervision. Following the close of business on
March 31, 2000, Seligman will assume full responsibility for the non-US
investments of the Portfolios.
Seligman's Global Growth Team will be responsible for the international
investments of the International Portfolio and the Global Growth Opportunities
Portfolio. The Global Growth Team is co-headed by Ms. Marion S. Schultheis and
Mr. Jack P. Chang.
Ms. Schultheis joined Seligman in May 1998 as a Managing Director. She is a Vice
President of the Fund and has been Co-Portfolio Manager of the Global Growth
Opportunities Portfolio since May 1998. Prior to joining Seligman, Ms.
Schultheis was a Managing Director at Chancellor LGT from October 1997 to May
1998 and Senior Portfolio Manager at IDS Advisory Group Inc. from August 1987 to
October 1997. Ms. Schultheis also manages the Capital Portfolio and the
Large-Cap Growth Portfolio of the Fund; and she manages Seligman Capital Fund,
Inc. and Seligman Growth Fund, Inc. Ms. Schultheis is also a Vice President of
Seligman Global Fund Series, Inc. and co-manages its Seligman International
Growth Fund and Seligman Global Growth Fund.
Mr. Chang joined Seligman on September 20, 1999 as a Managing Director. He is a
Vice President of the Fund. Prior to joining Seligman, Mr. Chang was a Senior
Vice President and Portfolio Manager at Putnam Investment Management since 1997.
Prior thereto, he was a Portfolio Manager with Columbia Management Company from
1993 to 1997, and a Senior Analyst and Portfolio Manager with Scudder, Stevens &
Clark from 1989 to 1993. Mr. Chang is also a Vice President of Seligman Global
Fund Series, Inc. and co-manages its Seligman International Growth Fund and
Seligman Global Growth Fund.
<PAGE>
The Global Technology Team, headed by Mr. Paul H. Wick, will be responsible for
the international investments of the Global Technology Portfolio. Mr. Wick, a
Managing Director of Seligman, is a Vice President of the Fund and has been
Co-Portfolio Manager of the Global Technology Portfolio since its inception. Mr.
Wick has been a Managing Director of Seligman since January 1995 and a Director
of Seligman since November 1997. Mr. Wick also manages the Communications and
Information Portfolio of the Fund. Mr. Wick has been a Vice President and
Portfolio Manager of Seligman Communications and Information Fund, Inc. since
January 1990 and December 1989, respectively. Mr. Wick is a Vice President and
Co-Portfolio Manager of Seligman New Technologies Fund, Inc. He is also a Vice
President of Seligman Global Fund Series, Inc. and Co-Portfolio Manager of its
Seligman Global Technology Fund.
Mr. Steven A. Werber, a Vice President of the Fund, is Co-Portfolio Manager of
the Global Technology Portfolio. Mr. Werber joined Seligman on January 10, 2000
as a Senior Vice President. Prior to joining Seligman, Mr. Werber was an Analyst
and Portfolio Manager at Fidelity Investments International since 1996. Prior
thereto, he was an Associate at Goldman Sachs International from 1992 to 1996.
Mr. Werber is also a Vice President of Seligman Global Fund Series, Inc. and
Co-Portfolio Manager of its Seligman Global Technology Fund.
The Fund has also removed "Henderson" from the names of each of its affected
portfolios. In addition, the Seligman International Portfolio has changed its
name to the "Seligman International Growth Portfolio" and the Seligman Global
Growth Opportunities Portfolio has changed its name to the "Seligman Global
Growth Portfolio."
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The following supersedes the related information on page P-39, under the Section
"Management of the Fund," in the Fund's prospectus.
Each of the Seligman International Growth Portfolio, the Seligman Global Growth
Portfolio, the Seligman Global Technology Portfolio and the Seligman Global
Smaller Companies Portfolio pays Seligman a fee for its management services
equal to a percentage of the Portfolio's average daily net assets. The fee rate
declines as each Portfolio's net assets increase. The management fee rate with
respect to the Global Technology Portfolio is equal to an annual rate of 1.00%
of average daily net assets on the first $2 billion, .95% of average daily net
assets on the next $2 billion and .90% of average daily net assets in excess of
$4 billion. The management fee rate with respect to the International Growth
Portfolio, the Global Growth Portfolio and the Global Smaller Companies
Portfolio is equal to an annual rate of 1.00% of average daily net assets on the
first $1 billion, .95% of average daily net assets on the next $1 billion and
.90% of average daily net assets in excess of $2 billion.
