Supplement, dated January 30, 2003, to the Prospectus, dated May 1, 2002
                                       of
                            Seligman Portfolios, Inc.
    on behalf of its Seligman Global Smaller Companies Portfolio (the "Fund")

Effective February 1, 2003, the following information supersedes and replaces
the information set forth on page P-19 of the Fund's Prospectus under the
caption "Global Smaller Companies Portfolio - Portfolio Management."

      The Global Smaller Companies Portfolio is managed by Seligman's Global
      Investment Group, co-headed by Mr. Daniel J. Barker. Mr. Barker joined
      Seligman in October 1999 and is a Managing Director. He is a Vice
      President of Seligman Portfolios, Inc. and Portfolio Manager of the Fund
      and the Emerging Markets Portfolio. He is also a Vice President of
      Seligman Global Fund Series, Inc. and Portfolio Manager of its Global
      Smaller Companies Fund and Emerging Markets Fund. Prior to joining
      Seligman, Mr. Barker was a portfolio manager at GE Investments since 1994.