Seligman Portfolios, Inc. (the "Fund")
                                on behalf of its
                           Seligman Frontier Portfolio
                        Seligman Global Growth Portfolio
                   Seligman Global Smaller Companies Portfolio
                     Seligman International Growth Portfolio

                        Supplement, dated March 2, 2001,
                      to the Prospectus, dated May 1, 2000,
                       as supplemented on October 5, 2000

     This Supplement supersedes and replaces in its entirety the Supplement
                             dated October 5, 2000.

Seligman Global Growth Portfolio and Seligman International Growth Portfolio:

     Effective March 2, 2001, the following information  supersedes and replaces
in its entirety the separate "Portfolio  Management"  sections of "Global Growth
Portfolio" on page P-18 and of  "International  Growth  Portfolio" on page P-34,
respectively, of the Fund's Prospectus, dated May 1, 2000.

The Portfolio is managed by the Seligman's  Global Growth Team,  which is headed
by Ms. Marion S. Schultheis.

Ms. Schultheis joined Seligman in May 1998 as a Managing Director. She is a Vice
President of the Fund and has been Portfolio  Manager of the 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 Seligman  Capital  Fund,  Inc. and  Seligman  Growth Fund,  Inc. Ms.
Schultheis is also a Vice  President of Seligman  Global Fund Series,  Inc., and
the Global  Growth Team,  which she heads,  manages its  Seligman  International
Growth Fund and Global Growth Fund.

Mr.  David F. Cooley,  Senior Vice  President,  Investment  Officer of Seligman,
manages the International  Growth Portfolio and the  international  portfolio of
the Global  Growth  Portfolio  of the Fund.  He also  manages the  International
Growth Fund and  international  portfolio of Global  Growth Fund,  two series of
Seligman  Global Fund Series,  Inc. Mr. Cooley  joined  Seligman in October 2000
from  Gratry  and  Company,   where  he  was  Managing  Director,   Investments,
responsible for the formation of investment  policy and the management of global
and  international  portfolios.  Prior to that, he was Director of Global Growth
Equity for National  City  Investment  Management  Company.  Prior to that,  Mr.
Cooley was International Equity Portfolio Manager for Society Asset Management.

Prior to March 31, 2000, Henderson  Investment  Management Limited (HIML) served
as a subadvisor to the Portfolio.  HIML,  established in 1984, is a wholly owned
subsidiary of Henderson,  plc, a United Kingdom corporation.  For the year ended
December 31, 1999,  Seligman  paid HIML a fee for its services in respect of the
Portfolio based on the assets under HIML's supervision.  This fee did not affect
the fees paid by the Portfolio.

Frontier Portfolio and Global Smaller Companies Portfolio:

     Effective October 5, 2000, the definition of "smaller companies"  appearing
in the  highlighted  boxes on pages P-13 and P-19,  respectively,  of the Fund's
Prospectus was revised as follows:

            "Smaller Companies:
             Companies with market capitalization, at the time of
             purchase by the Portfolio, of $2 billion or less."



SP1S2-3/2001