Seligman Select Municipal Fund, Inc. ("Select Municipal"; NYSE: SEL) announced today that its Board of Directors, at a meeting held on September 3, 2008, approved and recommended to stockholders the acquisition of Select Municipal by National Municipal Class ("National Fund"), a series of Seligman Municipal Fund Series, Inc. (the "Acquisition"). Each of Select Municipal and National Fund are managed by J. & W. Seligman & Co. Incorporated ("Seligman"). As previously announced, Seligman has agreed to be acquired by RiverSource Investments, LLC ("RiverSource"), a wholly-owned subsidiary of Ameriprise Financial, Inc., in a transaction that is likely to close in the fourth quarter of 2008. ...
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