Supplement, dated July 19, 2001, to the Prospectus, dated May 1, 2001,
                                       of
             Seligman Portfolios, Inc. (the "Fund") on behalf of its
              Seligman High-Yield Bond Portfolio (the "Portfolio")


     Effective  July  19,  2001,  the  following  supersedes  and  replaces  the
information  set forth on page p-28 of the Fund's  Prospectus  under the caption
"Portfolio Management."


     The Portfolio is managed by Seligman's  High-Yield Team. Brian L. Hessel, a
Managing  Director of Seligman and a member of the High-Yield Team, is currently
responsible  for the day-to-day  portfolio  management of the  Portfolio.  It is
expected  that in late  August,  Kendall C.  Peterson  will join  Seligman  as a
Managing  Director and the head of the High-Yield  Team, and be responsible  for
the day-to-day portfolio management of the Portfolio.

     Mr.  Hessel  joined  Seligman in October  1995.  He became Vice  President,
Investment Officer in January 1997 and Senior Vice President, Investment Officer
in January 1998, before becoming a Managing Director in January 2000. Mr. Hessel
is  also  currently  responsible  for the  day-to-day  portfolio  management  of
Seligman  High-Yield Bond Series,  a series of Seligman High Income Fund Series,
Inc.

     Until recently,  Mr. Peterson was Vice President and Portfolio  Manager and
Desk Head for High Yield Mutual Funds with Fortis,  Inc. From 1985 through 1999,
Mr.  Peterson  served in a variety of capacities  with The Prudential  Insurance
Company  of  America,  the last six  years  of which he was Vice  President  and
Portfolio  Manager for High Yield  Mutual  Funds.  When he joins  Seligman,  Mr.
Peterson will also become responsible for the day-to-day portfolio management of
Seligman High-Yield Bond Series.




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