Supplement, dated June 30, 2006, to the
                         Prospectus, dated May 1, 2006,
                                       of
                     Seligman Portfolios, Inc. (the "Fund")
                                on behalf of its
       Seligman Investment Grade Fixed Income Portfolio (the "Portfolio")

The following  information  supersedes  and replaces the  information  contained
under the caption "Portfolio Management" on page 27 of the Fund's Prospectus:

The  Portfolio is managed by  Seligman's  Investment  Grade Team,  headed by Mr.
Francis L. Mustaro.

Mr. Mustaro, a Senior Vice President,  Investment  Officer of Seligman,  is Vice
President of the Fund and Portfolio Manager of the Portfolio. In addition to his
responsibilities in respect of the Portfolio,  Mr. Mustaro is Vice President and
Portfolio Manager of Seligman Cash Management Fund, Inc. and Seligman Investment
Grade Fixed Income, Inc., Vice President of Seligman High Income Fund Series and
Portfolio  Manager of its Seligman U.S.  Government  Securities Fund,  Portfolio
Manager of Seligman  Cash  Management  Portfolio (a portfolio of the Fund),  and
Vice President and Co-Portfolio Manager of Seligman Income and Growth Fund, Inc.
Mr.  Mustaro  joined  Seligman in April  2006.  Prior to joining  Seligman,  Mr.
Mustaro was a Senior  Portfolio  Manager,  Core Fixed  Income Group of Citigroup
Asset Management  ("CAM") since 1995, a Managing Director of CAM since 2004 and,
prior thereto, a Director of CAM since 2000.

Mr. Paul J.  Pertusi,  a Vice  President of Seligman,  is a member of Seligman's
Investment  Grade Team. Mr.  Pertusi was employed as an investment  professional
with Seligman from April 2002 through  January 2005, and then was employed as an
investment  professional with Schroders Investment  Management until he returned
to Seligman in July 2005.  Previously,  he was  Portfolio  Manager for the Fixed
Income Management Group at the Bank of New York since 1997. Mr. Pertusi provides
assistance  to Mr.  Mustaro in managing the  Portfolio  through his research and
contributions  to the investment  decisions with respect to the corporate  bonds
portion of the Portfolio.

The Fund's Statement of Additional  Information provides additional  information
about the compensation of the individuals named above (the "Portfolio Team") and
other  accounts  managed by each member of the Portfolio Team and each member of
the Portfolio Team's ownership of securities of the Portfolio.



                     Supplement, dated June 30, 2006 to the
             Statement of Additional Information, dated May 1, 2006
                                       of
                     Seligman Portfolios, Inc. (the "Fund")
                                on behalf of its
       Seligman Investment Grade Fixed Income Portfolio (the "Portfolio")

The  following  information  is  added  to the  table  on page 37 of the  Fund's
Statement of Additional  Information,  dated May 1, 2006 (the "SAI"),  under the
caption "Portfolio Managers - Other Accounts Managed By Portfolio Managers,  and
Compensation - Seligman Investment Grade Fixed Income Portfolio". Table headings
have been restated for your convenience.



-----------------------------------------------------------------------------------------------------
                                                         Other Pooled
     Portfolio Manager     Registered Investment          Investment               Other Accounts
                                 Companies                 Vehicles
-----------------------------------------------------------------------------------------------------
                                                                    
-----------------------------------------------------------------------------------------------------
Paul J. Pertusi**        2 Registered Investment   1 Pooled Investment       31 Other Accounts with
                         Companies with            Vehicle with              approximately $333.7
                         approximately $111.9      approximately $3.5        million in total assets
                         million in total assets   million in total assets   under management.
                         under management.         under management.
-----------------------------------------------------------------------------------------------------


** As of May 31, 2006.

The following  supersedes and replaces the sentence  following the table on page
37 of the Fund's SAI,  under the caption  "Portfolio  Managers - Other  Accounts
Managed By Portfolio  Managers,  and  Compensation - Seligman  Investment  Grade
Fixed Income Portfolio".

Neither Mr. Mustaro nor Mr.  Pertusi  manage  accounts that have an advisory fee
based on the performance of the account.

The following information is added to the section entitled "Portfolio Managers -
Other  Accounts  Managed By  Portfolio  Managers,  and  Compensation  - Seligman
Investment Grade Fixed Income Portfolio - Compensation" on page 37 of the Fund's
SAI.

As compensation for his responsibilities, Mr. Pertusi received a base salary and
discretionary bonus for the year-ended 2005.