SUPPLEMENT DATED JULY 29, 2008 TO THE PROSPECTUSES OF EACH OF THE
                            FOLLOWING SELIGMAN FUNDS:

                 Prospectuses, each dated February 1, 2008, for
         Seligman Core Fixed Income Fund, Inc., Seligman Municipal Fund
       Series, Inc., Seligman Municipal Series Trust, Seligman New Jersey
       Municipal Fund, Inc., Seligman Pennsylvania Municipal Fund Series,
                 and Seligman TargetHorizon ETF Portfolios, Inc.

                   Prospectuses, each dated March 3, 2008, for
       Seligman Frontier Fund, Inc. and Seligman Global Fund Series, Inc.

                    Prospectuses, each dated May 1, 2008, for
        Seligman Asset Allocation Series, Inc., Seligman Cash Management
         Fund, Inc., Seligman Capital Fund, Inc., Seligman Common Stock
         Fund, Inc., Seligman Communications and Information Fund, Inc.,
          Seligman Growth Fund, Inc., Seligman High Income Fund Series,
       Seligman Income and Growth Fund, Inc., Seligman Lasalle Real Estate
        Fund Series, Inc., Seligman Portfolios, Inc., Seligman Value Fund
                  Series, Inc, and Tri-Continental Corporation
                          (collectively, the "Funds").


On  July  7,  2008,  Ameriprise  Financial,  Inc.  ("Ameriprise")  announced  an
agreement to acquire J. & W. Seligman & Co.  Incorporated  (the "Manager"),  the
manager of each of the Funds,  in a  transaction  that is likely to close in the
fourth quarter of 2008. Under the Investment  Company Act of 1940,  consummation
of Ameriprise's acquisition of the Manager will result in a change of control of
the  Manager  and  an  assignment  and  automatic  termination  of  each  Fund's
management  agreement with the Manager,  as well as the sub-advisory  agreements
relating to those Funds (or series of Funds) that have sub-advisers.

At a meeting on July 29,  2008,  the Funds'  Boards  approved  new  advisory and
administration agreements between each Fund and subsidiaries of Ameriprise,  and
new  sub-advisory  agreements  for the Funds (or series of Funds) that currently
have  sub-advisers.  The  new  advisory  and  sub-advisory  agreements  will  be
presented to the shareholders of the Funds for their approval.