497 1 d56499_497.txt FORM 497 Supplement, dated August 11, 2003 to the Prospectuses, dated April 21, 2003 of Seligman Portfolios, Inc. (the "Fund") on behalf of its: Seligman Capital Portfolio Seligman Common Stock Portfolio Seligman Communications and Information Portfolio Seligman Frontier Portfolio Seligman Global Growth Portfolio Seligman Global Smaller Companies Portfolio Seligman Global Technology Portfolio Seligman High-Yield Bond Portfolio Seligman Income and Growth Portfolio Seligman International Growth Portfolio Seligman Large-Cap Growth Portfolio Seligman Large-Cap Value Portfolio Seligman Small-Cap Value Portfolio (collectively, the "Portfolios") Effective August 11, 2003, J. & W. Seligman & Co. Incorporated, the investment manager of the Portfolios, has modified or eliminated its voluntary undertaking to reimburse "other expenses" of the Portfolios (i.e. those expenses other than management and 12b-1 fees) that exceed certain limits as follows:
Previous Expense Cap New Expense Cap(1) (% per annum of the Portfolio's (% per annum of the Portfolio's Name of Portfolio average daily net assets) average daily net assets) ----------------- ------------------------- ------------------------- Capital 0.40 None Common Stock 0.40 None Communications and Information 0.40 None Frontier 0.75 None Global Growth 0.40 0.75 Global Smaller Companies 0.40 1.00 Global Technology 0.40 0.90 High-Yield Bond 0.50 None Income and Growth 0.55 0.75 International Growth 0.40 1.00 Large-Cap Growth 0.45 None Large-Cap Value 0.40 None Small-Cap Value 0.20 None
---------- (1) Management fees and 12b-1 fees will continue to be excluded for purposes of applying the expense cap.