Supplement, dated April 15, 2009
                    to the Prospectus, dated May 1, 2008, for
                            Seligman Portfolios, Inc.
                                  (the "Fund")

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

On October 6, 2008,  the Fund, on behalf of Seligman Cash  Management  Portfolio
(the  "Portfolio"),  a series of the Fund, applied to participate in the initial
term of the U.S. Department of Treasury's  Temporary Guarantee Program for Money
Market Funds (the  "Program"),  through  December 18, 2008 (the "Initial Term"),
after obtaining the approval of the Board of Directors (the "Board"),  including
a majority of the independent directors. On December 2, 2008, the Board approved
the Portfolio's  participation  in an extension of the Program through April 30,
2009 (the "First  Extended  Term").  On April 8, 2009,  the Board  approved  the
Portfolio's  participation in an extension of the Program through  September 18,
2009 (the "Second Extended  Term").  The Fund filed an extension notice with the
U.S.  Department of Treasury on April 13, 2009 for the Portfolio to  participate
in the Second Extended Term of the Program.

The Program  covers  shareholders  of each  participating  money market fund for
amounts  they held in such funds as of the close of  business on  September  19,
2008.  Any  increase in the number of shares of that fund held by a  shareholder
after the close of business on September  19, 2008 will not be  guaranteed.  Any
purchase  of shares of a  participating  money  market  fund  after the close of
business  on  September  19,  2008  will  not  be  guaranteed.  If  shares  of a
participating  fund  held  by a  shareholder  as of the  close  of  business  on
September  19,  2008 are sold  before the  guarantee  is called  upon,  then the
guarantee  will only cover the lesser of (i) the number of fund  shares  held by
the  shareholder  as of the close of business on September 19, 2008, or (ii) the
number of fund  shares  held by the  shareholder  on the date the  guarantee  is
called upon. A participating fund shareholder who sells all of his or her shares
after  September  19, 2008 (and  before the  guarantee  is called  upon) will no
longer  be  covered  by the  guarantee,  even  if the  shareholder  subsequently
reinvests in the fund or in another fund that is participating in the Program.

Under the terms of the Program, the guarantee is called upon with respect to the
Portfolio if the Board makes a  determination  to liquidate the  Portfolio.  For
shares covered by the guarantee, any difference between the amount a shareholder
received in  connection  with the  liquidation  and $1.00 per share (a guarantee
payment) will be covered by the U.S.  Department of Treasury  under the Program,
subject  to the  overall  amount  available  to all funds  participating  in the
Program.  Guarantee  payments  under the  Program  will not  exceed  the  amount
available in the Program (at inception of the Program, approximately $50 billion
was available to support guarantee payments).

The cost to participate  in the Second  Extended Term of the Program from May 1,
2009 through  September  18, 2009  requires a payment to the U.S.  Department of
Treasury in the amount of 0.015% of the Portfolio as of the close of business on
September 19, 2008.  The cost to  participate  in the Second  Extended Term will
initially be borne by the  Portfolio  without  regard to any expense  limitation
currently in effect  between the  investment  manager and its affiliates and the
Fund with  respect to the  Portfolio.  However,  to the  extent  the  investment
manager  voluntarily  limits the expenses of the  Portfolio  for the purposes of
supporting its yield,  the costs to participate in the Second  Extended Term may
be absorbed by the investment manager.  The payment to participate in the Second
Extended  Term of the Program is in addition to payments to the U.S.  Department
of Treasury to  participate  in the Initial Term and the First  Extended Term of
the  Program.  The Program  will expire after the close of business on September
18, 2009.

For additional  information on the Program,  visit the U.S Treasury Department's
website at www.ustreas.gov.