Supplement, dated December 15, 2003, to the Prospectus, dated May 1, 2003,
                                       of
                 Tri-Continental Corporation (the "Corporation")

  The following supercedes and replaces the supplement dated September 4, 2003:

Effective January 1, 2004, the following information supersedes and replaces the
information set forth in the first and second full paragraphs on page 13 of the
Corporation's Prospectus under the caption "MANAGEMENT OF THE CORPORATION - The
Manager:"

      The Corporation's portfolio is managed by the Manager's Core Equity Group.
      The Portfolio Manager of the Corporation is Richard R. Schmaltz. Mr.
      Schmaltz is also Portfolio Manager of Seligman Common Stock Fund, Inc. and
      Co-Portfolio Manager of Seligman Income and Growth Fund, Inc., as well as
      Portfolio Manager of Seligman Common Stock Portfolio and Co-Portfolio
      Manager of Seligman Income and Growth Portfolio, two portfolios of
      Seligman Portfolios, Inc. In addition, Mr. Schmaltz is a Managing Director
      of the Manager.

      Prior to his early retirement in 2001, Mr. Schmaltz was a Managing
      Director of the Manager as well as the Manager's Director of Investments,
      Chair of the Manager's Investment Policy Committee and a member of the
      Manager's Executive Committee.