Supplement, dated April 12, 2004, to the Prospectus, dated May 1, 2003,
                                       of
                     Seligman Portfolios, Inc. (the "Fund")
                                on behalf of its
                   High Yield Bond Portfolio (the "Portfolio")

      Effective April 15, 2004, the following information supersedes and
replaces the information regarding the Portfolio set forth in the supplement
dated December 30, 2003 which revised the information set forth on page P-32 of
the Fund's Prospectus under the caption "Portfolio Management".

      The Portfolio is managed by Seligman's Fixed Income Team, headed by
Kendall C. Peterson, a Managing Director of Seligman, a Vice President of the
Fund and a Vice President of Seligman High Yield Bond Series. Mr. Peterson is
Portfolio Manager of the Portfolio and of Seligman High-Yield Bond Series.

      Before joining Seligman in September 2001, 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.