(FOR MARYLAND RESIDENTS ONLY)
Supplement, dated May 8, 1995 to the Prospectus, dated March 1, 1995 of Seligman
Henderson International Fund, Seligman Henderson Global Smaller Companies Fund
and Seligman Henderson Global Technology Fund
Seligman Henderson International Fund, Seligman Henderson
Global Smaller Companies Fund, and Seligman Henderson Global Technology Fund
(each, a "Series") may invest in financial instruments commonly known as
"derivatives" only for hedging or investment purposes, consistent with each
Series' investment objective and policies as outlined in this Prospectus. The
Series will not invest in derivatives for speculative purposes (i.e., where the
derivative investment exposes a Series to undue risk of loss, such as where the
risk of loss is greater than the cost of the investment).
A derivative is generally defined as an instrument whose value
is derived from, or based upon, some underlying index, reference rate (e.g.,
interest rates or currency exchange rates), security, commodity or other asset.
Each Series will not invest in a specific type of derivative without prior
approval from its Board of Directors, after careful consideration of, among
other things, how the derivative instrument serves the Series' investment
objective, and the risk associated with the investment.
The only two types of derivatives in which each Series is
permitted to invest are forward currency contracts and stock purchase rights and
warrants. Under normal circumstances, each Series will limit forward currency
contracts to not greater than 75% of a Series' portfolio position in any one
country as of the date the contract is entered into. Under certain
circumstances, a Series may enter into forward currency contracts in excess of
75%. A Series may not invest in rights and warrants if, at the time of
acquisition, the investment in rights and warrants would exceed 5% of a Series'
net assets, valued at the lower of cost or market. In addition, no more than 2%
of net assets may be invested in warrants not listed on the New York or American
Stock Exchanges. For purposes of this restriction, warrants acquired by a Series
in units or attached to securities may be deemed to have been purchased without
cost.
(EQSHM)
