Business Continuity for the Seligman Group

Overview

At Seligman, we take great pride in the trust that our clients place in us, and we take our fiscal responsibilities seriously. With that in mind, we would like to tell you about our policy for safeguarding client assets during a Significant Business Disruption (“SBD”), and inform you of the option for prompt access to fund shareholder accounts.

Seligman has designed its business continuity program to comply with regulatory rules. Among many steps, we have created a network of secondary business sites as backups to our normal business locations and have arranged backup communications capabilities for connectivity both internally and to our clients. Additional actions continue to be taken to bring us to the highest possible state of readiness.

Key Plan Elements

Whether we are affected by a firm-only, single building, business district, citywide or regional disruption, our policy is clear. We will safeguard our employees’ lives, make immediate financial and operational assessments, attempt to quickly recover and resume operations, and allow our clients to conduct business. In the event of an emergency, our goal is to return to full service within four hours. During our recovery period, fund shareholders may access their investment records by phone or electronically following the estimated four-hour recovery period. Please bear in mind that if securities markets in general are disrupted, there may be an additional impact.

Our purpose is to ensure that we are able to continue our business activities and continue serving our clients with the least possible impact in the event of a SBD or other unforeseen circumstances. For greater assurance, we regularly test our recovery strategies in order to maintain their optimal reliability and effectiveness.

In order to maintain secure and effective plans, Seligman does not provide the specific details in this notice, but you should be aware that Seligman’s Business Continuity Plan (BCP) is designed to address key areas of concern – including but not limited to:

Data back-up and recovery;
All mission critical systems;
Financial and Operational assessments;
Alternate means of communication between Seligman and clients;
Alternate means of communication between Seligman and employees;
Alternate physical site location and preparedness;
Critical business constituent, bank and counter-party impact;
Regulatory reporting;
Communication with regulators; and
Shareholders access to funds.

A key element of our BCP is an incident command network designed to monitor internal and external status items, manage escalation procedures, and provide a rapid response mechanism to address critical issues. The objective of the network is to enable Seligman’s management to monitor and manage an incident and any material impact an event may have on the Firm’s business activities.

While no contingency plan can eliminate all risk of service interruption or temporarily impeded account access, we continually assess and update our plans to mitigate reasonable risks. Although we have taken significant steps to develop and implement sound business recovery plans, we cannot guarantee that systems will always be available or recoverable after a SBD. However, we believe that our planning for such events is robust and consistent with many of the best practices established within the industry.

Changes and modifications

Seligman’s business continuity plan is subject to modification. As necessary, we will promptly post updates or modifications to this disclosure statement on the Web Site.

Strategy

Since events creating business disruptions may vary in nature and scope, Seligman has anticipated various scenarios. In each instance, essential personnel may be relocated to contingency facilities both within and outside of our major metropolitan facilities, or other remote sites. Client toll-free lines are redirected to a Call Center with qualified service personnel. Seligman has implemented a robust data center back-up strategy in a distant facility outside of New York City. This data center is housed in a hardened facility protected by emergency power, and services by separate utility grids and multiple telecommunications carriers.

Clients, however, should note that these responses are subject to modification. While our plans attempt to deal with the potential likely impact of a wide variety of scenarios, any specific response will inevitably be highly dependent upon the nature and extent of the incident and, depending on the severity of a specific event, Seligman cannot guarantee that it will be able to follow the stated course of action. A four-hour recovery is contingent on the nature of the event and that critical industry and municipal infrastructure are fully functional.

Access to your Funds

A site outage should not impact your ability to have access to your available funds, as Seligman’s BCP is designed to ensure sustained service. However, your ability to trade may be impacted by market events outside of Seligman’s control.

Account information and services during a SBD can be obtained through the following options:

Shareholders in the Seligman Group of Funds:
If you maintain your account directly with the Seligman Group of Funds, including accounts where Seligman Services, Inc. is your broker of record, you can access your account by visiting www.seligman.com and selecting “Shareholder Account Access.” You will need a personal identification number (PIN) to access your account information via our website. If you do not already have a PIN or have forgotten it, please call us at 888-241-1265 between the hours of 8:30 A.M. to 6:00 P.M EST.

During any recovery period, we will make every effort to staff our toll-free telephone numbers so you can speak to a client service representative directly by calling 800-221-2450.

You may also access your account at any time by calling Seligman Data Corp.’s Automated 24-hour Telephone Access Service at 800-622-4597.

Seligman Services clients may also call the Seligman Services, Inc. Hotline at 800-597-6068.

For all other Seligman clients: Call the J. & W. Seligman & Co. Incorporated Emergency Notification Hotline at 888-329-6617.

This information is authorized for use only in the case of concurrent or prior delivery of the offering prospectus of the Fund. You should consider the investment objectives, risks, charges, and expenses of a Fund carefully before investing. A prospectus containing information about a Fund (including its investment objectives, risks, charges, expenses, and other information about the Fund) may be obtained here. The prospectus should be read carefully before investing in a Fund.

The Seligman Funds are managed by J. & W. Seligman & Co. Incorporated (Seligman). The Seligman Mutual Funds are distributed by Seligman Advisors, Inc. Seligman Services, Inc. provides client services to Fund shareholders. Seligman Advisors, Inc. and Seligman Services, Inc. are wholly-owned subsidiaries of Seligman.

Distributed by Seligman Advisors, Inc.