Seligman Select Municipal Fund Announces Distribution Guidelines
September 23 2005 - 10:47AM
PR Newswire (US)
NEW YORK, Sept. 23 /PRNewswire-FirstCall/ -- Seligman Select
Municipal Fund, Inc. (NYSE:SEL) announced that it currently
estimates that 2.4% of the monthly distributions paid to common
stockholders in 2005 will be in excess of the Fund's net investment
income (i.e., a return of capital), but under applicable federal
law, will be taxable as ordinary income. Seligman Quality Municipal
Fund, Inc. (NYSE:SQF) announced that it currently estimates that
1.8% of the monthly distributions paid to common stockholders in
2005 will be in excess of the Fund's net investment income (i.e., a
return of capital), but under applicable federal law, will be
taxable as ordinary income. In each case, the remaining amount will
be treated as "exempt interest" dividends for federal income tax
purposes. The actual portion of the distributions that will be
taxable will be provided to stockholders with their year-end tax
statements. J. & W. Seligman & Co. Incorporated, a New
York-based investment manager and advisor, was founded in 1864. As
well as providing management and advisory services to institutional
clients, the firm and its affiliates provide individuals a broad
array of investment options, including the US-based Seligman Group
of Funds with more than 50 portfolios, a range of retirement
services, and investment options offered within North Carolina's
National College Savings Program, a 529 program. Additionally, it
manages Tri-Continental Corporation, which is traded on the New
York Stock Exchange, and a range of offshore investments available
exclusively for non-US investors. J. & W. Seligman & Co.
Incorporated has an additional office in Palo Alto, California.
DATASOURCE: Seligman Select Municipal Fund, Inc. CONTACT: Media:
Rebecca Shroyer, +1-212-850-1239, ; or Shareholders: Marco Acosta,
+1-800-597-6068,
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