Supplement, dated July 30, 1996, to the prospectus, dated May 1, 1996
                   of Seligman Portfolios, Inc. (the "Fund").

         The  Board  of  Directors  of the  Fund has  unanimously  approved  and
recommended to shareholders for approval at a special meeting of shareholders to
be held on  September  30,  1996,  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. Shareholder approval of this
proposal  would  change the  investment  objective of the Global  Portfolios  to
long-term  capital  appreciation  primarily  through  international  investments
(rather  than  global  investments)  in  securities  of  medium  to  large-sized
companies. This would have the effect of changing the Global Portfolio's current
policy that invests 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., 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.

         The  Board of  Directors  has also  approved,  subject  to  shareholder
approval  of the  foregoing,  a change in the name of the  Global  Portfolio  to
"Seligman Henderson International Portfolio" in order to more accurately reflect
its new investment policy.



RVAS-7/96