Supplement, dated September 29, 2005,
                       which supersedes and replaces the
      Supplement, dated September 21, 2005, to the following Prospectuses:

    Seligman Municipal Funds Prospectus, dated February 1, 2005, for Seligman
   Municipal Fund Series, Inc., Seligman Municipal Series Trust, Seligman New
   Jersey Municipal Fund, Inc. and Seligman Pennsylvania Municipal Fund Series

    Prospectuses, each dated February 1, 2005, for Seligman Investment Grade
                             Fixed Income Fund, Inc.

    Prospectuses, each dated March 1, 2005, for Seligman Frontier Fund, Inc.
                      and Seligman Global Fund Series, Inc.

     Prospectuses, each dated May 2, 2005, for Seligman Capital Fund, Inc.,
     Seligman Cash Management Fund, Inc., Seligman Common Stock Fund, Inc.,
 Seligman Communications and Information Fund, Inc., Seligman Growth Fund, Inc.,
                    Seligman High-Yield Bond Series, Seligman
                          Income and Growth Fund, Inc.,
 Seligman LaSalle Monthly Dividend Real Estate Fund, Seligman Portfolios, Inc.,
                 Seligman Time Horizon/Harvester Series, Inc.,
                  Seligman U.S. Government Securities Series,
        Tri-Continental Corporation and Seligman Value Fund Series, Inc.

In late 2003,  Seligman  conducted an extensive  internal  review in response to
public  announcements  concerning mutual fund trading  practices.  The following
discussion has been prepared to provide shareholders with important information.

For purposes of this  discussion,  J. & W. Seligman & Co.  Incorporated  and its
affiliates  and related  parties are referred to as "Seligman" or the "Manager,"
and  the  Seligman  registered  investment  companies  are  referred  to as  the
"Seligman Funds."

Q1. Have any Seligman employees engaged in improper trading?

A. The Manager conducted an internal review of employee trading in shares of the
Seligman Funds in the fall of 2003 and continues to monitor  employee trading in
the Seligman Funds.  The Manager has not found any improper  trading activity by
Seligman employees.

Q2. Does  Seligman  have any  policies  relating to employee  investment  in the
Seligman Funds?

A. A  majority  of  Seligman  employees  invest in the  Seligman  Funds,  either
directly or through the Seligman 401(k) plans. Trading by employees is monitored
by the  Manager's  legal  department  and is  subject to the  Manager's  Code of
Ethics.  In addition,  unlike many 401(k) plans that permit daily  trading,  the
Seligman  401(k)  plans  permit  only  weekly  trading  activity.  All  Seligman
employees have been informed that excessive trading with respect to the Seligman
Funds,  or trading in the  Seligman  Funds  based upon  inside  information,  is
inappropriate  and may, in certain  cases,  be illegal.  Employees who engage in
inappropriate  trading will be subject to disciplinary action, which may include
termination of employment.



Q3. Has Seligman engaged in improper disclosure of a Fund's portfolio holdings?

A. The Manager has found no improprieties relating to the disclosure of a Fund's
portfolio holdings. The Manager has not disclosed and does not disclose a Fund's
portfolio holdings prior to public dissemination, unless such disclosure is made
for  legitimate  business  purposes and only if the Manager  believes  that such
disclosure  will not be detrimental to a Fund's  interest.  A description of the
policies and procedures with respect to the disclosure of each Fund's  portfolio
securities is set forth in each Fund's Statement of Additional Information.

Q4. What is Seligman's policy with regard to receipt of late trades (i.e., after
4:00 pm Eastern Time)?

A.  Seligman  does not accept late trades  directly  from Fund  shareholders  or
prospective shareholders.  The large majority of mutual fund trades submitted to
Seligman are from  broker-dealer  firms and other  financial  intermediaries  on
behalf of their clients.  These intermediaries have an obligation to ensure that
trades  submitted to the Seligman  Funds after 4:00 pm on a trading day for that
day's net asset value were,  in fact,  received by those  entities by 4:00 pm on
that day. This applies to all trades from  intermediaries,  including those that
are transmitted electronically to Seligman after the market closes. Although the
Seligman Funds and the Manager,  like other mutual fund groups, cannot determine
the time at which orders received through financial  intermediaries were placed,
the  Manager  expects  mutual  fund trades  submitted  to Seligman by  financial
intermediaries to comply with all applicable laws and regulations.  Seligman has
contacted every financial  intermediary that offers,  sells, or purchases shares
of the Seligman Funds in order to remind all of them of their  responsibility to
have  reasonable  policies and  procedures to ensure that they comply with their
legal and  contractual  obligations.  The Manager has found no instances of Fund
shareholders engaging in late trading directly with the Seligman Funds. Seligman
will cooperate with and support any governmental or regulatory  investigation to
identify and hold  accountable  any  financial  intermediary  that has submitted
orders in violation of applicable laws or regulations.

Q5. What is Seligman's policy regarding market timing?

A. Seligman has policies and procedures in place to restrict trades that, in its
judgment, could prove disruptive in the management of portfolios of the Seligman
Funds.  As part of the  Manager's  procedures,  the Manager  frequently  rejects
trades,  issues  warning  letters,  and prohibits  accounts from making  further
exchanges.  Since September 2003, when the first proceedings relating to trading
practices within the mutual fund industry were publicly announced,  Seligman has
taken  additional  steps to strengthen  its policies and  procedures.  A general
description  of the  Seligman  Funds'  policies  is set  forth  in  each  Fund's
prospectus.

Q6. Has Seligman conducted an internal review relating to market timing?

A. The  Manager  completed  its  internal  review  in the  fall of  2003.  As of
September 2003, the Manager had one arrangement that permitted frequent trading.
This  arrangement  was in the process of being closed down by the Manager before
September  2003.  Based on a review of the  Manager's  records for 2001  through
2003,  the  Manager  identified  three  other  arrangements  that had  permitted
frequent  trading in the Seligman  Funds.  All three had already been terminated
prior to the end of September 2002. The results of the Manager's internal review
were presented to the  Independent  Directors of the Seligman Funds. In order to
resolve   matters  with  the   Independent   Directors   relating  to  the  four
arrangements,  the  Manager in May 2004 paid  approximately  



$75,000 to Seligman  Global  Growth Fund,  $300,000 to Seligman  Global  Smaller
Companies  Fund  and  $1.6  million  to  Seligman  Global   Technology  Fund  in
recognition that these global investment funds presented some potential for time
zone arbitrage.  The amounts paid by the Manager represented less than 1/2 of 1%
of each such Fund's net asset value as of the date such  payments  were made. In
addition,  with  respect to Seligman  Communications  and  Information  Fund and
notwithstanding  that time  zone  arbitrage  opportunities  did not  exist,  the
Manager, at the request of the Independent Directors,  agreed to waive a portion
of its management  fee,  amounting to five basis points  (0.05%) per annum,  for
that Fund for a period of two years commencing on June 1, 2004.

Q7. Does Seligman disclose its internal market timing control procedures?

A.  Seligman's  market timing control  procedures are  proprietary.  The Manager
believes that disclosing these procedures will reduce their effectiveness.

Q8. What new practices are being considered to prevent market timing abuses?

A. Like other members of the mutual fund industry,  Seligman has considered, and
continues  to  consider,  numerous  options,  including  the  implementation  of
redemption fees.  Seligman also has contacted every financial  intermediary that
offers,  sells, or purchases shares of the Seligman Funds in order to inform all
of them that they must have  reasonable  policies and  procedures to ensure that
they do not  knowingly  permit or facilitate  excessive  trading of the Seligman
Funds or  knowingly  use or  facilitate  any methods  designed to disguise  such
trading in the Seligman Funds.

Q9. Is Seligman  involved  with any federal or state  investigation  relating to
market timing or late trading?

A. Since February 2004,  Seligman has been in discussion with the New York staff
of the SEC and the Office of the New York Attorney General ("Attorney  General")
in connection  with their review of frequent  trading in certain of the Seligman
mutual funds. No late trading is involved. This review was apparently stimulated
by Seligman's  voluntary  public  disclosure of the  foregoing  arrangements  in
January 2004. In March 2005, negotiations to settle the matter were initiated by
the New York staff of the SEC. After several months of  negotiations,  tentative
agreement was reached,  both with the New York staff of the SEC and the Attorney
General, on the financial terms of a settlement. However, settlement discussions
with the  Attorney  General  ended when the  Attorney  General  sought to impose
operating conditions on Seligman that were unacceptable to Seligman,  would have
applied  in  perpetuity   and  were  not  requested  or  required  by  the  SEC.
Subsequently,  the New York staff of the SEC  indicated  that, in lieu of moving
forward under the terms of the  tentative  financial  settlement,  the staff was
considering  recommending to the  Commissioners  of the SEC the instituting of a
formal action against Seligman.  Seligman believes that any action would be both
inappropriate  and  unnecessary,  especially  in light of the fact that Seligman
previously  resolved the underlying issue with the Independent  Directors of the
Seligman Funds and made recompense to the affected Funds.

Immediately  after  settlement  discussions with the Attorney General ended, the
Attorney  General  issued  subpoenas to certain of the Seligman  Funds and their
directors.  The subpoenas seek various Board materials and information  relating
to the  deliberations of the Independent  Directors as to the advisory fees paid
by the Seligman mutual funds to Seligman.  Seligman has objected to the Attorney
General's  seeking of such  information and, on September 6, 2005, filed suit in
federal  district  court seeking to enjoin the Attorney  General from pursuing a
fee inquiry.  Seligman believes that the Attorney  General's inquiry is improper
because Congress has vested exclusive regulatory oversight of investment company
advisory fees in the SEC.



At the end of September 2005, the Attorney General  indicated that it intends to
file an action at some point in the future alleging, in substance, that Seligman
permitted   other  persons  to  engage  in  frequent   trading  other  than  the
arrangements  described above and, as a result,  this supplement is and has been
misleading. Seligman believes any such action would be without merit.

Any resolution of these matters with regulatory authorities may include, but not
be limited to, sanctions, penalties, injunctions regarding Seligman, restitution
to  mutual  fund  shareholders  or  changes  in  procedures.  Any  penalties  or
restitution will be paid by Seligman and not by the Seligman Funds.

Seligman does not believe that the foregoing  possible actions or any threatened
legal actions should have a material  adverse impact on Seligman or the Seligman
Funds; however,  there can be no assurance of this or that these matters and any
related  publicity  will not result in reduced demand for shares of the Seligman
Funds or other adverse consequences.

Q10. Does Seligman have any market timing arrangements at the current time?

A. Market timing  arrangements  in the Seligman Funds have been  prohibited.  In
addition,  Seligman has  strengthened  existing  controls to discourage and help
prevent market timing.

Q11. Have any other  matters come to  Seligman's  attention in the course of its
internal inquiry?

A. In the fall of 2003,  the Manager also  reviewed its practice of placing some
of the  Seligman  Funds'  orders  to buy  and  sell  portfolio  securities  with
brokerage firms in recognition of their sales of the Seligman Funds. At the time
such orders were  placed,  the  practice  was  permissible  when done  properly;
however, the Manager believes that it may have violated applicable  requirements
for certain of such orders as a result of compensation  arrangements the Manager
had with  certain  brokerage  firms.  The  Manager  discontinued  this  practice
entirely  in October  2003 and has  reported  these  matters to the  Independent
Directors of the Seligman Funds.  The Manager is confident that the execution of
all such orders was consistent with its best execution  obligations and that the
Seligman Funds did not pay higher brokerage commissions in connection with those
orders  than  they  would  otherwise  have  paid  for  comparable  transactions.
Nonetheless,  in order to resolve  matters with the Independent  Directors,  the
Manager  made  payments  in May 2004 to each of  twenty-four  funds in an amount
equal to the  commissions  paid by each such fund  during the  period  from 1998
through 2003 to certain  brokerage firms in recognition of sales of fund shares.
Amounts  paid by the  Manager to the  affected  funds  (which in the  aggregate,
including interest,  equaled approximately $1.7 million) represented at the time
of payment  less than $0.01 per share for each such fund.  The  Manager has also
responded  fully to  information  requests from the SEC and the NASD relating to
Seligman's use of revenue sharing and fund portfolio  brokerage  commissions and
will continue to provide additional information if, and as, requested.

Q12.  Have any  employees  been  disciplined  in  connection  with the Manager's
overall internal review?

A. One employee has left Seligman.