Directors of Seligman Select Municipal Fund, Inc. (“Select Municipal”) (NYSE:
SEL) today declared an income dividend of $0.036 per common share.
The dividend will be payable January 23, 2009 to stockholders of record
on January 16, 2009. Common shares of Select Municipal will be offered
“ex-dividend” on January 14, 2009.
Effective November 7, 2008, Select Municipal is managed by RiverSource
Investments, LLC, a wholly owned subsidiary of Ameriprise Financial,
Inc. Prior to then, Select Municipal was managed by J. & W. Seligman &
Co. Incorporated. RiverSource Fund Distributors, Inc. (formerly known as
Seligman Advisors, Inc.) is the principal underwriter of the RiverSource
family of funds, which includes Select Municipal
RiverSource Investments, LLC, 200 Ameriprise Financial Center,
Minneapolis, Minnesota 55474, is also the investment manager of the
other funds in the Seligman Group of Funds, and is wholly owned
subsidiary of Ameriprise Financial, Inc. Ameriprise Financial, Inc. is a
financial planning and financial services company that has been offering
solutions for clients' asset accumulation, income management and
protection needs for more than 110 years. In addition to managing
investments for the Seligman Group of Funds, RiverSource manages
investments for the RiverSource funds, itself and its affiliates. For
institutional clients, RiverSource and its affiliates provide investment
management and related services, such as separate account asset
management, and institutional trust and custody, as well as other
investment products.
The net asset value of shares of Seligman Municipal may not always
correspond to the market price of such shares. Shares of many closed-end
funds frequently trade at a discount from their net asset value. Select
Municipal is subject to stock market risk, which is the risk that stock
prices overall will decline over short or long periods, adversely
affecting the value of an investment in the fund.
Fixed-income securities owned by Select Municipal are subject to
interest-rate risk, credit risk, repayment risk, and market risk. To the
extent that Select Municipal concentrates its investments in municipal
securities issued by a single state and its municipalities, specific
events or factors affecting a particular state may have an impact on the
municipal securities of that state without affecting the municipal
market in general. There is no guarantee that Select Municipal’s
investment goals/objectives will be met, and you could lose money.
You should consider the investment objectives, risks, charges, and
expenses of Select Municipal carefully before investing. You can
obtain Select Municipal’s most recent periodic reports and other
regulatory filings by contacting your financial advisor or Seligman
Services, Inc. at 800-597-6068. These reports and other filings
can also be found on the Securities and Exchange Commission’s EDGAR
database. You should read these reports and other filings
carefully before investing.
Ameriprise Financial
Media contact:
Charles Keller,
612-678-7786
charles.r.keller@ampf.com
or
Stockholder
contact:
Chris Moran, 617-218-3864
christopher.m.moran@ampf.com
