Supplement, dated October 5, 2006, to the
                      Prospectuses, each dated May 1, 2006,
                   for Seligman Portfolios, Inc. (the "Fund")
                                on behalf of its
                  Seligman Capital Portfolio (the "Portfolio")


Capitalized  terms  used  but not  defined  in this  Supplement  shall  have the
meanings given to such terms in the Fund's Prospectuses.

The following  information  supersedes  and replaces the  information  contained
under  the  sub-caption   entitled   "Seligman  Capital  Portfolio  -  Portfolio
Management"  on page 4 of the  Fund's  Class 1  Prospectus  and the  information
contained under the sub-caption  "Management of the Fund - Portfolio Management"
on page 4 of the Portfolio's Class 2 Prospectus:

The Portfolio is managed by J. &W.  Seligman & Co.  Incorporated's  ("Seligman")
Growth Team, which is headed by Mr. Erik J. Voss. Mr. Voss, Portfolio Manager of
the  Portfolio  since  joining  Seligman  in  October  2006,  is a  Senior  Vice
President,  Investment Officer of Seligman.  In addition to his responsibilities
in respect of the Portfolio,  Mr. Voss is Portfolio  Manager of Seligman Capital
Fund,  Inc.,  Seligman  Growth Fund,  Inc. and one other  registered  investment
company.  Prior to joining  Seligman,  Mr. Voss was a portfolio manager at Wells
Capital Management  Incorporated,  and prior thereto, Strong Capital Management,
Inc.

The Fund's Statement of Additional  Information provides additional  information
about the  compensation  of the Portfolio  Manager,  other  accounts  managed by
Portfolio  Manager and the  Portfolio  Manager's  ownership of securities of the
Portfolio.

                    Supplement, dated October 5, 2006, to the
             Statement of Additional Information, dated May 1, 2006,
                   for Seligman Portfolios, Inc. (the "Fund")
                                on behalf of its
                  Seligman Capital Portfolio (the "Portfolio")


Capitalized  terms  used  but not  defined  in this  Supplement  shall  have the
meanings given to such terms in the Fund's Statement of Additional  Information,
dated May 1, 2006 ("SAI").

The biography under the caption  "Management of the Fund - INTERESTED  DIRECTORS
AND  PRINCIPAL  OFFICERS"  on page  16 of the  SAI  relating  to Ms.  Marion  S.
Schultheis is hereby deleted in its entirety.

The following  information  supersedes  and replaces the  information  contained
under the caption  "Portfolio  Managers - Seligman Capital Portfolio" on page 31
of the SAI:

Table A


                                                                             
 Portfolio Manager             Other Registered        Other Pooled Investment        Other Accounts*
                             Investment Companies*            Vehicles*

Eric J. Voss                 3 Registered Investment     0 Pooled Investment           27 Other Accounts with
                             Companies with              Vehicles.                     approximately $220.2
                             approximately $930.3                                      million in total assets
                             million in total assets                                   under management.
                             under management.


*Information provided as of August 31, 2006.

Mr. Voss does not manage any accounts that have an advisory fee based on the
performance of the account.

Compensation:

For 2006, as compensation for his responsibilities, Mr. Voss is entitled to
receive a fixed base salary. For 2007, Mr. Voss is entitled to receive (i) a
fixed base salary; (ii) a fixed minimum bonus; and (iii) a bonus based on the
investment performance of two Seligman investment companies (other than the
Portfolio) for which Mr. Voss serves as portfolio manager (the "Voss Funds") as
compared to the funds constituting the Lipper averages that include the Voss
Funds.