SELIGMAN TECH SPECTRUM FND ANNOUNCES DIRECTORS APPOINTMENTS& RESIGNATIONS

Date3-Mar-2009

In accordance with the Fund's restated Memorandum and Articles of Association. Messrs. John Banks, Joe Bannister, Christopher P. Keating, David C. Litton and William F. Truscott, were appointed as Directors of the Fund simultaneous with the effectiveness of the resignations of Messrs. John J. Guancione, Charles W. Kadlec, Rodney G.D. Smith and Brian T. Zino.

 

Biographical information for the new Directors is set forth below.

 

John Banks

John Banks, of PO Box 282, Victoria House, 26 Victoria Street Douglas, IM99 2DR, Isle of Man. Mr. Banks is an Executive Chairman of Bridgewater (IOM) Limited, a company regulated by the Isle of Man Financial Supervision Commission, specializing in company and fund administration, life and pensions consultancy. He has been actively involved in fund management and third party administration since 1986. He has acted as either Managing Director or as a Director of several fund management groups on the Isle of Man prior to which he was involved in the private banking sector as General Manager of one of the leading private Swiss Banks. Mr. Banks is a Fellow of the Association of Accounting Technicians, and a member of the Securities and Investment Institute and the Chartered Management Institute.

Joe V. Bannister

 

Joe V. Bannister, of 2 The Elms, Gorg Borg, Olivier Street, Sliema SLM 12 Malta. Mr. Bannister has been a Professor of biological chemistry at Cranfield Institute of Technology since 1988, a professor of biochemistry at the University of Malta since 1992 and is currently pro-rector of the University of Malta. He was re-appointed chairman and president of Malta’s regulatory and inward investment body for the financial services sector (Malta Financial Services Centre) in 1999, a post he previously held from 1995 to 1997. In the intervening period he served as chairman of Tri-Med Fund Management Limited (1998 to 1999) and Mid-Med Bank Overseas Limited (1999) (both subsidiaries of Mid-Med Bank Limited) and a consultant to Norwich Union, Gibraltar. From 1990 to 1994 he was chairman of Malta’s industrial inward investment authority (Malta Development Corporation). Prior to this he was a senior research fellow at Oxford University.

 

Christopher P. Keating

 

Christopher P. Keating, of 759 Ameriprise Financial Center, Minneapolis, MN 55474, USA. Mr. Keating is Director, Vice President and Head of Institutional Sales, Client Service and Consultant Relationships of RiverSource Investments, LLC. He joined the Ameriprise Financial organization in 2005. Prior to joining he was Executive Vice President: Sales, Client Service and Consultant Relationships at Fidelity Management Trust Company from 2002 to 2005, and Managing Director, Sales/Consultant Relations at Deutsche Asset Management from 2000-2002. He holds a B.S. in Business Administration from the University of Maine and a J.D. from Suffolk University Law School.

David C. Litton

 

David C. Litton, of 15 St. George’s St., Douglas, IM1 1AJ, Isle of Man. Mr. Litton has been Managing Director of Devonshire Corporate Services Limited since 1999. This is regulated by the Financial Supervision Commission in the Isle of Man as a corporate and trust service provider which also includes the regulation and provision of directorships. Prior to that, Mr. Litton was an Executive Director of Merchant Bankers, Rea Brothers (Isle of Man) Limited. Before joining Rea Brothers Mr. Litton was a Manager of the Fiscal Services Department of Coopers and Lybrand in the Isle of Man. Mr. Litton is a Director of a number of hedge funds, including the hedge funds offered by Threadneedle International Limited, an affiliated company within the Ameriprise family of companies. He is also an Associate of the Institute of Bankers and a member of the Institute of Directors.

William F. Truscott

 

William F. Truscott, of 951 Ameriprise Financial Center, Minneapolis, MN 55474, USA. Mr. Truscott is President, Chairman of the Board and Chief Investment Officer (“CIO”) of RiverSource Investments, LLC. Mr. Truscott is also President – U.S. Asset Management and Chief Investment Officer of Ameriprise Financial, Chairman of the Board, Chief Executive Officer and President of RiverSource Distributors and Director, President and Chief Executive Officer of the Ameriprise Certificate Company. Mr. Truscott has also served as a Director of the RiverSource Funds since 2001. Mr. Truscott joined the Ameriprise Financial organization in 2001. Prior to that, Mr. Truscott had served as Chief Investment Officer with Zurich Scudder Investments, Americas, from October 2000 through August 2001 and Managing Director of Zurich Scudder Investments from January 1996 through October 2000. He received a B.A. in East Asian Studies from Middlebury College and an M.B.A. from New York University.

 

Ted Franzest

Authorised Officer

J. & W. Seligman & Co. Incorporated,

Seligman Advisors, Inc., Seligman Services, Inc.

100 Park Avenue, New York, New York 10017

(212) 850-1864

franzest@JWSeligman.com