Seligman Smaller-Cap Value Fund Fact Sheet

Current Fund Returns

SELIGMAN'S STYLE ANALYSIS

This style analysis is the opinion of Seligman only and has not been provided by any third party.

FUND MATERIALS

Investor Guide

FactSheet

Prospectus

Statement of Additional Information

Shareholder Report

Past performance is no guarantee or indication of future results. The rate of return will vary and the principal value of an investment will fluctuate. Shares, if redeemed, may be worth more or less than their original cost. Performance does not reflect the effect of sales charges, fees, or taxes. If such charges were included, performance would be lower. Return figures reflect any change in price per share, and assume the reinvestment of dividends and capital gains, if any.

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 Current Fund Returns 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. 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 are available here.

A WORD ABOUT RISK

A portfolio with fewer holdings, such as Seligman Smaller-Cap Value Fund, may be subject to greater volatility than a portfolio with a greater number of holdings. The stocks of smaller companies may be subject to above-average market price fluctuations.

To the extent that the Fund invests a substantial percentage of its assets in an industry, the Fund’s performance may be negatively affected if that industry falls out of favor.

There is no guarantee that the Fund’s investment goals/objectives will be met, and you could lose money.

On November 7, 2008, RiverSource Investments, LLC (“RiverSource Investments”) completed its acquisition of J. & W. Seligman & Co. Incorporated. In addition, at special meetings held earlier in November 2008, the shareholders of each Seligman Mutual Fund approved a new investment management services agreement between each such Fund and RiverSource Investments and, if applicable, new subadvisory and delegation agreements. With the completion of the acquisition and the approval of these new agreements by shareholders of each Seligman Mutual Fund, RiverSource Investments is the new investment manager of the Seligman Mutual Funds effective November 7, 2008.

FOOTNOTES
1 Top 10 holdings exclude short-term instruments, and are shown as a percentage of total net assets. The Fund is 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 Fund’s portfolio. 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. Click the link for additional Portfolio holdings information.
2 Industry weightings are shown as a percentage of net assets. “Outside Top 10” includes short-term instruments, cash, and other assets less liabilities.

Seligman Smaller-Cap Value Fund

FUND OBJECTIVE AND STRATEGY:

Seeks long-term capital appreciation by investing in the common stocks of “value” companies with smaller market capitalizations ($3 billion or less) at the time of purchase by the Fund.

PORTFOLIO MANAGEMENT

Portfolio Managers:
Neil T. Eigen
Richard S. Rosen
Investment Team:
Seligman Value Team

FUND STATISTICS
As of September 30, 2008
Inception April 25, 1997
Total Net Assets $177 million
Number of Holdings 42

TOP 10 HOLDINGS¹
As of September 30, 2008

Aspen Insurance Holdings

3.9%

Delta Air Lines

3.7

Quest Software

3.6

Cubic

3.5

Hanover Insurance Group

3.2

Endurance Specialty Holdings

3.1

Fred's (Class A)

3.1

CACI International (Class A)

3.1

WellCare Health Plans

3.1

Brink's

2.9

Total

33.2%

TOP 10 INDUSTRY WEIGHTINGS²
As of September 30, 2008

Outside Top 10

37.1%

Insurance

15.6%

Electical Equipment

8.7%

Software

6.3%

Airlines

6.0%

Commercial Services and Supplies

5.8%

Hotels, Restaurants and Leisure

5.3%

Energy Equipment and Services

4.2%

Semiconductors and Semiconductor Equipment

4.1%

Aerospace and Defense

3.5%

Specialty Retail

3.4%

FUND CHARACTERISTICS
As of September 30, 2008

P/E

15x

Trailing 3 Year EPS Growth

18%

Weighted Average Market Capitalization*

$1,710

Source: Factset. *In millions.

P/E Ratio is the weighted average of the price of each stock in the Fund’s portfolio at September 30, 2008 divided by its after-tax earnings per share over the trailing 12-month period ended on such date, excluding any companies with after-tax losses.

Trailing 3 Year EPS Growth is the weighted average of the change in the earnings per share over the previous 12 quarters of the companies in the Fund’s portfolio at September 30, 2008.

Weighted Average Market Capitalization represents the market capitalizations of companies held in the portfolio.

AVERAGE ANNUAL TOTAL RETURNS
As of September 30, 2008


	1 Year %	3 Year %	5 Year %	10 Year %

CLASS A without sales charges	(28.88)	0.36	5.69	8.95

CLASS A with sales charges	(32.96)	(1.60)	4.44	8.31

GROWTH of $10,000
(Class A Without Sales Charges: 4/25/97 (Inception) - 9/30/08)

The chart does not reflect the performance of Class B, C, or R shares, which would differ due to different sales charges, fees and expenses. See Important Performance Information below.

CALENDAR YEAR TOTAL RETURNS
As of September 30, 2008

Class A Without Sales Charges

* Since inception.

Performance does not reflect the effect of sales charges. If such charges were included, performance would be lower. The graph does not reflect the performance of Class B, C, or R shares, which would differ due to different sales charges, fees and expenses. Return figures reflect any change in price per share, and assume the reinvestment of dividends and capital gains, if any. See Important Performance Information below.

Annual Fund Operating Expenses
(Expenses that are deducted from Fund assets)

(As of percent of Net Assets)	Class A Shares	Class B/C Shares	Class R Shares

Total Annual Operating Expenses	1.81%	2.56%	2.06%

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.

Effective November 7, 2008, J. & W. Seligman Co. Incorporated ("Seligman") was acquired by and became a wholly-owned subsidiary of RiverSource Investments, LLC, which is a subsidiary of Ameriprise Financial, Inc. As a result of the acquisition, Seligman's investment advisory contracts were transferred to RiverSource Investments and Seligman Advisors, Inc., a subsidiary of Seligman, was added as a principal underwriter and distributor of the RiverSource mutual funds.

Seligman mutual funds are distributed by Seligman Advisors, Inc., member FINRA, and managed by RiverSource Investments, LLC. Seligman Services, Inc. provides services to fund shareholders. Seligman Advisors, Inc. and Seligman Services, Inc. are wholly-owned subsidiaries of RiverSource Investments, LLC. These companies are part of Ameriprise Financial, Inc.