-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 UWD8T/AQAn35fFt3EN4kTg==

<SEC-DOCUMENT>0001169232-04-002730.txt : 20040511
<SEC-HEADER>0001169232-04-002730.hdr.sgml : 20040511
<ACCEPTANCE-DATETIME>20040510200227
ACCESSION NUMBER:		0001169232-04-002730
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20040511
EFFECTIVENESS DATE:		20040511

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN GLOBAL FUND SERIES INC
		CENTRAL INDEX KEY:			0000881466
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-44186
		FILM NUMBER:		04794785

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124880200

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SELIGMAN HENDERSON GLOBAL FUND SERIES INC
		DATE OF NAME CHANGE:	19930721

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SELIGMAN INTERNATIONAL FUND SERIES INC
		DATE OF NAME CHANGE:	19920717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN FRONTIER FUND INC
		CENTRAL INDEX KEY:			0000750679
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-92487
		FILM NUMBER:		04794786

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN MUNICIPAL SERIES TRUST
		CENTRAL INDEX KEY:			0000750756
		IRS NUMBER:				133409771
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-92569
		FILM NUMBER:		04794775

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SELIGMAN TAX EXEMPT SERIES TRUST
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SELIGMAN CALIFORNIA TAX EXEMPT FUND SERIES
		DATE OF NAME CHANGE:	19890803

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRI-CONTINENTAL CORP
		CENTRAL INDEX KEY:			0000099614
		IRS NUMBER:				135441850
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-104669
		FILM NUMBER:		04794779

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE,
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRI CONTINENTAL CORP
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN CASH MANAGEMENT FUND INC
		CENTRAL INDEX KEY:			0000100802
		IRS NUMBER:				132866200
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-56805
		FILM NUMBER:		04794789

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124880200

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNION CASH MANAGEMENT FUND INC
		DATE OF NAME CHANGE:	19820512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN INCOME & GROWTH FUND INC
		CENTRAL INDEX KEY:			0000100852
		IRS NUMBER:				135534276
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-10837
		FILM NUMBER:		04794782

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE,
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE,
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SELIGMAN INCOME FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNION INCOME FUND INC
		DATE OF NAME CHANGE:	19820426

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WHITEHALL FUND INC
		DATE OF NAME CHANGE:	19740826

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN GROWTH FUND INC
		CENTRAL INDEX KEY:			0000316411
		IRS NUMBER:				135267160
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-10836
		FILM NUMBER:		04794784

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124880200

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATIONAL INVESTORS CORP
		DATE OF NAME CHANGE:	19820426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN TIME HORIZON/HARVESTER SERIES INC
		CENTRAL INDEX KEY:			0001092633
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-85111
		FILM NUMBER:		04794780

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVE
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE,
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SELIGMAN TIME HORIZON HARVESTER SERIES INC
		DATE OF NAME CHANGE:	19990805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN MUNICIPAL FUND SERIES INC
		CENTRAL INDEX KEY:			0000726291
		IRS NUMBER:				133177004
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-86008
		FILM NUMBER:		04794776

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124880200

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SELIGMAN TAX EXEMPT FUND SERIES INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN COMMON STOCK FUND INC
		CENTRAL INDEX KEY:			0000014358
		IRS NUMBER:				134971230
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-10835
		FILM NUMBER:		04794788

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124880200

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROAD STREET INVESTING CORP
		DATE OF NAME CHANGE:	19820426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN LASALLE REAL ESTATE FUND SERIES INC
		CENTRAL INDEX KEY:			0001238182
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-105799
		FILM NUMBER:		04794781

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2148501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN PENNSYLVANIA MUNICIPAL FUND SERIES
		CENTRAL INDEX KEY:			0000793701
		IRS NUMBER:				136872089
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-05793
		FILM NUMBER:		04794772

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVE
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVE - 8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SELIGMAN PENNSYLVANIA TAX EXEMPT FUND SERIES
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN COMMUNICATIONS & INFORMATION FUND INC
		CENTRAL INDEX KEY:			0000709146
		IRS NUMBER:				133154449
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-80168
		FILM NUMBER:		04794787

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124880200

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN HIGH INCOME FUND SERIES
		CENTRAL INDEX KEY:			0000752372
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-93076
		FILM NUMBER:		04794783

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		8TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN NEW JERSEY MUNICIPAL FUND INC
		CENTRAL INDEX KEY:			0000813240
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-13401
		FILM NUMBER:		04794774

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124880200

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SELIGMAN NEW JERSEY TAX EXEMPT FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN VALUE FUND SERIES INC
		CENTRAL INDEX KEY:			0001031594
		IRS NUMBER:				133927140
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-20621
		FILM NUMBER:		04794778

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN INVESTMENT GRADE FIXED INCOME FUND INC
		CENTRAL INDEX KEY:			0001142702
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-63546
		FILM NUMBER:		04794777

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		8TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2128501864

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		8TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SELIGMAN CAPITAL FUND INC
		CENTRAL INDEX KEY:			0000100786
		IRS NUMBER:				132641951
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-33566
		FILM NUMBER:		04794773

	BUSINESS ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124880200

	MAIL ADDRESS:	
		STREET 1:		100 PARK AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNION CAPITAL FUND INC
		DATE OF NAME CHANGE:	19820426
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>d59560_497.txt
<DESCRIPTION>FORM 497
<TEXT>

         Supplement, dated May 11, 2004, to the following Prospectuses:

    Seligman Municipal Funds Prospectus, dated February 2, 2004, for Seligman
   Municipal Fund Series, Inc., Seligman Municipal Series Trust, Seligman New
      Jersey Municipal Fund, Inc. and Seligman Pennsylvania Municipal Fund
                                     Series

    Prospectuses, each dated February 2, 2004, for Seligman Investment Grade
                             Fixed Income Fund, Inc.

    Prospectuses, each dated March 1, 2004, for Seligman Frontier Fund, Inc.
                      and Seligman Global Fund Series, Inc.

     Prospectuses, each dated May 3, 2004, for Seligman Capital Fund, Inc.,
     Seligman Cash Management Fund, Inc., Seligman Common Stock Fund, Inc.,
    Seligman Communications and Information Fund, Inc., Seligman Growth Fund,
    Inc., Seligman High-Yield Bond Series, Seligman LaSalle Monthly Dividend
     Real Estate Fund, Seligman U.S. Government Securities Series, Seligman
      Income and Growth Fund, Inc., Seligman Time Horizon/Harvester Series,
     Inc., Tri-Continental Corporation and Seligman Value Fund Series, Inc.

The following amends and restates entirely the text under the heading
"Frequently Asked Questions About Regulatory Matters" in each prospectus:

In response to recent developments regarding disruptive and illegal trading
practices in the mutual fund industry, the following discussion has been
prepared to provide shareholders with important information.

For purposes of this discussion, J. & W. Seligman & Co. Incorporated and its
affiliates and related parties are referred to as "Seligman" or the "Manager,"
and the Seligman registered investment companies are referred to as the
"Seligman Funds."

Q1. Have any Seligman employees engaged in improper trading?

A. The Manager has conducted an internal review of employee trading in shares of
the Seligman Funds and has not found improper trading activity by Seligman
employees.

Q2. Does Seligman have any policies relating to employee investment in the
Seligman Funds?

A. A majority of Seligman employees invest in the Seligman Funds, either
directly or through the Seligman 401(k) plans. Trading by employees is monitored
by the Manager's legal department and is subject to the Manager's Code of
Ethics. In addition, unlike many 401(k) plans that permit daily trading, the
Seligman 401(k) plans permit only weekly trading activity. All Seligman
employees have been informed that excessive trading with respect to the Seligman
Funds, or trading in the Seligman Funds based upon inside information, is
inappropriate and may, in certain cases, be illegal. Employees who engage in
inappropriate trading will be subject to disciplinary action, which may include
termination of employment.

Q3. Has Seligman engaged in improper disclosure of a Fund's portfolio holdings?

A. The Manager has found no improprieties relating to the disclosure of a Fund's
portfolio holdings. The Manager has not disclosed and does not disclose a Fund's
portfolio holdings prior to public dissemination, unless such disclosure is made
for legitimate business purposes and only if the Manager believes that such
disclosure will not be detrimental to a Fund's interest.

<PAGE>

Q4. What is Seligman's policy with regard to receipt of late trades (i.e., after
4:00 pm Eastern Time)?

A. Seligman does not accept late trades directly from Fund shareholders or
prospective shareholders. The large majority of mutual fund trades submitted to
Seligman are from broker-dealer firms and other financial intermediaries on
behalf of their clients. These intermediaries have an obligation to ensure that
trades submitted to the Seligman Funds after 4:00 pm on a trading day for that
day's net asset value were, in fact, received by those entities by 4:00 pm on
that day. This applies to all trades from intermediaries, including those that
are transmitted electronically to Seligman after the market closes. Although the
Seligman Funds and the Manager, like other mutual fund groups, cannot determine
the time at which orders received through financial intermediaries were placed,
the Manager expects mutual fund trades submitted to Seligman by financial
intermediaries to comply with all applicable laws and regulations. Seligman has
contacted every financial intermediary that offers, sells, or purchases shares
of the Seligman Funds in order to remind all of them of their responsibility to
have reasonable policies and procedures to ensure that they comply with their
legal and contractual obligations.

The Manager has found no instances of Fund shareholders engaging in late trading
directly with the Seligman Funds. Seligman will cooperate with and support any
governmental or regulatory investigation to identify and hold accountable any
financial intermediary that has submitted orders in violation of applicable laws
or regulations.

Q5. What is Seligman's policy regarding market timing?

A. Seligman has policies and procedures in place to restrict trades that, in its
judgment, could prove disruptive in the management of portfolios of the Seligman
Funds. As part of the Manager's procedures, the Manager frequently rejects
trades, issues warning letters, and prohibits accounts from making further
exchanges. Since September 2003, when the first proceedings relating to trading
practices within the mutual fund industry were publicly announced, Seligman has
taken additional steps to strengthen its policies and procedures.

Q6. Has Seligman conducted an internal review relating to market timing?

A. The Manager has completed its internal review. As of September 2003, the
Manager had one arrangement that permitted frequent trading. This arrangement
was in the process of being closed down by the Manager before the first
proceedings relating to trading practices within the mutual fund industry were
publicly announced. Based on a review of the Manager's records for 2001 through
2003, the Manager identified three other arrangements that had permitted
frequent trading in the Seligman Funds. All three had already been terminated
prior to the end of September 2002.

The results of the Manager's internal review were presented to the Independent
Directors of the Seligman Funds. In order to resolve matters with the
Independent Directors relating to the four arrangements, the Manager has paid
approximately $75,000 to Seligman Global Growth Fund, $300,000 to Seligman
Global Smaller Companies Fund and $1.6 million to Seligman Global Technology
Fund in recognition that these global investment funds presented some potential
for time zone arbitrage. The amounts paid by the Manager represent less than 1/2
of 1% of each such Fund's current net asset value. In addition, with respect to
Seligman Communications and Information Fund and notwithstanding that time zone
arbitrage opportunities did not exist, the Manager, at the request of the
Independent Directors, has agreed to waive a portion of its management fee,
amounting to five basis points (0.05%) per annum, for that Fund for a period of
two years commencing on June 1, 2004.

Q7. Does Seligman disclose its internal market timing control procedures?

A. Seligman's market timing control procedures are proprietary. The Manager
believes that disclosing these procedures will reduce their effectiveness.


                                       2
<PAGE>

Q8. What new practices are being considered to prevent market timing abuses?

A. Like other members of the mutual fund industry, Seligman is considering
numerous options, including the implementation of redemption fees. Seligman also
has contacted every financial intermediary that offers, sells, or purchases
shares of the Seligman Funds in order to inform all of them that they must have
reasonable policies and procedures to ensure that they do not knowingly permit
or facilitate excessive trading of the Seligman Funds or knowingly use or
facilitate any methods designed to disguise such trading in the Seligman Funds.

Q9. Is Seligman involved with any federal or state investigation relating to
market timing or late trading?

A. The SEC, the NASD and the Attorney General of the State of New York are
reviewing the matters discussed herein. In addition, the Manager has responded
to information requests from other federal and state governmental authorities
relating to investigations of unaffiliated third parties. As always, the Manager
will continue to cooperate fully with the SEC and other authorities.

Q10. Does Seligman have any market timing arrangements at the current time?

A. Market timing arrangements in the Seligman Funds have been prohibited. In
addition, Seligman has strengthened existing controls to discourage and help
prevent market timing.

Q11. Have any other matters come to Seligman's attention in the course of its
internal inquiry?

A. The Manager has also reviewed its practice of placing some of the Seligman
Funds' orders to buy and sell portfolio securities with brokerage firms in
recognition of their sales of the Seligman Funds. This practice is permissible
when done properly; however, the Manager believes that it may have violated
applicable requirements for certain of such orders as a result of compensation
arrangements the Manager had with certain brokerage firms. The Manager
discontinued this practice entirely in October 2003 and has reported these
matters to the Independent Directors of the Seligman Funds. The Manager is
confident that the execution of all such orders was consistent with its best
execution obligations and that the Seligman Funds did not pay higher brokerage
commissions in connection with those orders than they would otherwise have paid
for comparable transactions. Nonetheless, in order to resolve matters with the
Independent Directors, the Manager has made payments to each of twenty-four
funds in an amount equal to the commissions paid by each such fund during the
period from 1998 through 2003 to certain brokerage firms in recognition of sales
of fund shares. Amounts paid by the Manager to the affected funds (which in the
aggregate, including interest, equals approximately $1.7 million) represent less
than $0.01 per share for each such fund. The Manager has also responded fully to
information requests from the SEC and the NASD relating to Seligman's use of
revenue sharing and fund portfolio brokerage commissions and will continue to
provide additional information if, and as, requested.

Q12. Have any employees been disciplined in connection with the Manager's
overall internal review?

A. One employee has left Seligman.


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