Supplement, dated April 7, 2005 to the Prospectus, dated May 3, 2004,
                                       of
                            Seligman Portfolios, Inc.

                                  -------------
                                on behalf of its
                           Seligman Frontier Portfolio
                        Seligman Global Growth Portfolio
                   Seligman Global Smaller Companies Portfolio
                       Seligman High-Yield Bond Portfolio
                      Seligman Income and Growth Portfolio
                       Seligman Large-Cap Growth Portfolio
        (individually, a "Portfolio" and collectively, the "Portfolios")

      This Supplement supersedes and replaces that certain supplement dated
                               February 18, 2005.

The Board of Directors of Seligman Portfolios,  Inc. has approved the redemption
of all outstanding  shares of the Seligman Frontier  Portfolio,  Seligman Global
Growth  Portfolio,   Seligman  Global  Smaller  Companies  Portfolio,   Seligman
High-Yield  Bond Portfolio,  Seligman  Income and Growth  Portfolio and Seligman
Large-Cap Growth Portfolio (collectively, the Portfolios) and the liquidation of
each such Portfolio, in each case in accordance with Seligman Portfolios, Inc.'s
Articles of  Incorporation.  It is anticipated that the redemption of the shares
of each of the Portfolios will take place on or about May 31, 2005. As a result,
Seligman Portfolios, Inc. has ceased accepting any orders for the purchase of or
exchanges into shares of any of the Portfolios.

The Portfolios,  representing $23 million of the $409 million in total assets of
Seligman  Portfolios,  Inc. as of March 31,  2005,  had been offered to separate
accounts  of  participating  insurance  companies  to fund  benefits of variable
annuity and variable life insurance contracts.  Seligman Portfolios, Inc. is one
of 23 registered  investment companies in the Seligman Group of Funds managed by
J. & W. Seligman & Co.  Incorporated  ("Seligman").  The redemption of shares of
the Portfolios  does not impact any Seligman Fund in the Seligman Group of Funds
other  than  Seligman   Portfolios,   Inc.  and  the  Portfolios   noted  above.
Specifically, Seligman manages other mutual funds with names similar to those of
the Portfolios  specified  above.  These other mutual funds are not affected and
will  continue  normal   operations.   As  of  March  31,  2005,   Seligman  had
approximately  $20 billion in assets under management,  including  approximately
$11.6 billion in the Seligman Group of Funds.