Supplement, dated February 15, 2007,
to the Prospectus, dated May 1, 2006, for Seligman Portfolios, Inc. (the "Fund")
       on behalf of its Seligman Common Stock Portfolio (the "Portfolio")

The following information is hereby added to the Portfolio's "Principal
Investment Strategies" in the Fund's Prospectus:

The Portfolio may also invest up to 10% of its assets in equity-linked
securities (each, an "ELS") as part of its overall investment strategy. An ELS
is a debt instrument whose value is based on the value of a single equity
security, basket of equity securities or an index of equity securities (each, an
"Underlying Equity"). An ELS typically provides interest income, thereby
offering a yield advantage over investing directly in an Underlying Equity. The
Portfolio may purchase ELSs that trade on a securities exchange or those that
trade on the over-the-counter markets, including securities offered and sold
under Rule 144A of the Securities Act of 1933. The Portfolio may also purchase
an ELS in a privately negotiated transaction with the issuer of the ELS (or its
broker-dealer affiliate).

The following information is hereby added to the Portfolio's "Principal Risks"
in the Fund's Prospectus:

The Portfolio's investments in ELSs would subject it to the downside market risk
associated with the Underlying Equity, and to additional risks not typically
associated with investments in listed equity securities, such as liquidity risk,
credit risk of the issuer, and concentration risk.



                      Supplement, dated February 15, 2007,
       to the Statement of Additional Information, dated May 1, 2006, for
                     Seligman Portfolios, Inc. (the "Fund")

The following information is added after the section entitled "Options" in the
Fund's Statement of Additional Information:

Equity-Linked Securities. Seligman Common Stock Portfolio may invest in
equity-linked securities (each, an "ELS") as part of its overall investment
strategy. An ELS is a debt instrument whose value is based on the value of a
single equity security, basket of equity securities or an index of equity
securities (each, an "Underlying Equity"). An ELS typically provides interest
income, thereby offering a yield advantage over investing directly in an
Underlying Equity. However, the holder of an ELS typically does not benefit from
any appreciation in the Underlying Equity, but is exposed to downside market
risk. The Portfolio may purchase ELSs that trade on a securities exchange or
those that trade on the over-the-counter markets, including Rule 144A
securities. The Portfolio may also purchase ELSs in a privately negotiated
transaction with the issuer of an ELS (or its broker-dealer affiliate,
collectively referred to in this section as the "issuer"). The Portfolio may or
may not hold an ELS until its maturity.

Investments in ELSs subject the Portfolio to risks, primarily to the downside
market risk associated with the Underlying Equity, and to additional risks not
typically associated with investments in listed equity securities, such as
liquidity risk, credit risk of the issuer, and concentration risk. Most ELSs do
not have any downside protection (though some ELSs provide for a floor on the
downside). In general, an investor in an ELS has the same downside risk as an
investor in the Underlying Equity. The liquidity of an ELS that is not actively
traded on an exchange is linked to the liquidity of the Underlying Equity. The
issuer of an ELS generally purchases the Underlying Equity as a hedge. If the
Portfolio wants to sell an ELS back to the issuer prior to its maturity, the
issuer may sell the Underlying Equity to unwind the hedge and, therefore, must
take into account the liquidity of the Underlying Equity in negotiating the
purchase price the issuer will pay to the Portfolio to acquire the ELS.

The liquidity of unlisted ELSs is normally determined by the willingness of the
issuer to make a market in the ELS. While the Portfolio will seek to purchase
ELSs only from issuers that it believes to be willing to, and capable of,
repurchasing the ELS at a reasonable price, there can be no assurance that the
Portfolio will be able to sell any ELS at such a price or at all. This may
impair the Portfolio's ability to enter into other transactions at a time when
doing so might be advantageous. In addition, because ELSs are senior unsecured
notes of the issuer, the Portfolio would be subject to the credit risk of the
issuer and the potential risk of being too concentrated in the securities
(including ELSs) of that issuer. The Portfolio bears the risk that the issuer
may default on its obligations under the ELS. In the event of insolvency of the
issuer, the Portfolio will be unable to obtain the intended benefits of the ELS.
Moreover, it may be may be difficult to obtain market quotations for purposes of
valuing the Portfolio's ELSs and computing the Portfolio's net asset value.

Price movements of an ELS will likely differ significantly from price movements
of the Underlying Equity, resulting in the risk of loss if the investment
manager is incorrect in its expectation of fluctuations in securities prices,
interest rates or currency prices or other relevant features of an ELS.