Monthly Seligman TECH Bulletin

COMMENTARIES

Seligman Communications and
Information Fund

Seligman Global Technology Fund

† Top 10 holdings exclude short-term holdings, and are shown as a percentage of total net assets. The Funds are actively managed and holdings are subject to change. There can be no assurance that the securities listed above have remained or will remain in the Funds’ portfolios. Holdings should not be construed as a recommendation to buy or sell any security, an indication that any security is suitable for a particular investor or that any of the securities listed were or will be profitable. Portfolio holdings information is available at www.seligman.com

The views and opinions expressed are those of the Seligman Technology Group as of the date stated, are provided for general information only, and do not constitute specific tax, legal, or investment advice to any one person.Opinions, estimates, and forecasts may be changed without notice. There can be no guarantee as to the accuracy of market forecasts.

The products of technology companies may be subject to severe competition and rapid obsolescence, and technology stocks may be subject to greater price fluctuations, government regulation,and limited liquidity as compared to other investments. In addition,investments in one economic sector,such as technology, may result in greater price fluctuations than owning a portfolio of diversified investments. There are specific risks associated with global investing, such as currency fluctuations, foreign taxation, differences in financial reporting practices,and rapid changes in political and economic conditions. An investment in the Funds is not appropriate for individuals who require safety of principal or stable income from their investments.

The listing of any securities herein should not be construed as a recommendation to buy or sell any issue.It should not be assumed that any of the securities or holdings discussed were or will prove to be profitable, or that investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein. There can be no assurances that the securities discussed herein have remained or will remain in the Funds’ portfolios.

This material is authorized for use only in the case of a concurrent or prior delivery of the offering prospectus of Seligman Communications and Information Fund or Seligman Global Technology Fund. You should consider the investment objectives, risks,charges, and expenses of the Funds carefully before investing. The prospectuses, which contains information about these factors and other information about the Funds, should be read carefully before investing.

Seligman TECH Bulletin

May 2008

PORTFOLIO REVIEW AND OUTLOOK

Though the financial markets have seen marked improvement over the last several weeks, volatility continues and equity returns are still firmly in the negative. Tech has been no exception. When the markets are in the doldrums, it can be difficult to stick with the discipline of a long-term plan. We’ve been investing in Tech long enough to know that you must take temporary setbacks like these in stride, and that broad market downturns often present opportunities for the astute investor.

Performance Attribution

As has been the case for the past several years, our primary portfolio focus is Software, which is our only significant overweight versus our benchmark, the S&P GSTI Composite Index. Software has struggled this year, and some of our overweights in the area were among the biggest detractors to total return in the first quarter, including Synopsis, Amdocs, and McAfee — the three top portfolio holdings in both Seligman Communications and Information Fund and Seligman Global Technology Fund on 3/31. Our overall stock selection in Software, however, was relatively strong and helped us versus our peers and benchmark. Notable among the outperformers was Checkpoint Software Technologies, another top ten holding in both portfolios. Despite the disappointing performance of some of our largest holdings, we remain committed to our Software theme.

First quarter top contributors to each Fund’s returns were Yahoo (overweight), QUALCOMM (overweight), and IBM (underweight), which were also the top three contributors to the benchmark. Despite significant underweights to the benchmark, our exposure to the Computers and Peripherals sector and the Semiconductor and Semiconductor Equipment sector hurt us most in the first quarter. This is due in part to some of the Tech bellwethers — Apple, Cisco,and Intel for example — falling back after significant gains in 2007. Semiconductors were particularly weak, especially in the Flash and DRAM memory areas, and orders for Semiconductor Capital Equipment were off sharply.

Outlook

Though we’re likely to see further volatility, we think Tech stocks are positioned to do well as the market improves. Cash balances remain strong and we are still seeing significant share repurchases. Merger and acquisition activity has been resilient as well, largely because cash-rich Tech companies have been less reliant on debt to finance purchases. We believe Software is currently very attractive, especially considering what we believe are reasonable valuations relative to cash flow and earnings potential.

In spite of a tough start to the year, both the Seligman Communications and Information Fund and Global Technology Fund have fared well relative to their peers. With an eye to the longer-term, we are selectively adding to positions and taking advantage of opportunities created by short-term market volatility to strengthen the portfolios. As the year unfolds, we believe investors will begin to more clearly recognize the fundamental strength and earnings potential of Tech.

Seligman Communications and Information Fund

Class A: SLMCX Class B: SLMBX Class C: SCICX Class R: SCIRX

The table does not reflect the expenses of Class B, C, or R shares. Expense information on Class B, C, and R shares is available at www.seligman.com

Seligman Global Technology Fund

Class A: SHGTX

Class B: SHTBX

Class C: SHTCX

Class R: SGTRX

The table does not reflect the expenses of Class B, C, or R shares. Expense information on Class B, C, and R shares is available at www.seligman.com

IMPORTANT PERFORMANCE INFORMATION

Performance data quoted herein represents past performance. Past performance does not guarantee or indicate future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. Total returns of the Fund as of the most recent month-end will be made available at www.seligman.com by the seventh business day following that month-end.

Return figures reflect any change in price per share, and assume the reinvestment of dividends and capital gain distributions, if any. Returns include the effect of a payment from the investment manager to Seligman Global Technology Fund in 2004, and a 0.05% fee waiver in respect of Seligman Communications and Information Fund from 6/1/04through 5/31/06. Absent such payment and fee waiver, returns that include such periods would have been lower. Average Annual Total Return figures for Class A shares are calculated without and with the effect of the initial maximum sales charge. The average annual total returns (with sales charges) for all periods presented for Class A shares reflect the maximum initial sales charge of 5.75% that went into effect January 7, 2008. Effective June 4, 2007, there is no initial sales charge on purchases of Class C shares. The chart and tables do not reflect the performance of Class B, C, or R shares, which would differ due to different sales charges, fees and expenses. Return information on Class B, C, and R shares is available at www.seligman.com.

For more information on Seligman Communications and Information Fund, contact your Financial Advisor, or call Seligman Advisors, Inc. at 800-221-2783.

NOT FDIC INSURED•NOT BANK GUARANTEED • MAY LOSE VALUE

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.