Exhibit 99.1

FOR IMMEDIATE RELEASE

MEDIA CONTACT:                          STOCKHOLDER CONTACT:

Mary Ann Susco                          Marco Acosta
212-850-1382                            800-597-6068
suscom@jwseligman.com                   acostam@jwseligman.com

Tri-Continental Announces Board Nominees Will Be Re-Elected

NEW YORK, September 28, 2006 - At a Special Meeting of Stockholders held in
Baltimore, Maryland, Tri-Continental Corporation (NYSE: TY) today announced that
preliminary results indicate that the three incumbent Directors nominated for
re-election by Tri-Continental's Board will be re-elected.

In addition, on a proposal to amend Tri-Continental's charter to reduce the
quorum requirements for future stockholder meetings, the majority of votes cast
were for the proposal. However, a majority of all votes entitled to be cast is
required for approval of the proposal. The Meeting was adjourned in order to
permit stockholders additional time to vote on the charter amendment proposal,
and to receive a report from the independent inspector of election on the
election of directors.

The adjourned meeting will take place on October 5, 2006, at the offices of
Sullivan & Cromwell LLP at 375 Park Ave. New York, NY at 10:00 a.m.

Tri-Continental Corporation is one of the nation's largest, diversified,
publicly traded closed-end equity investment companies, and has paid dividends
for 62 consecutive years. The Fund is managed by J. & W. Seligman & Co.
Incorporated, a New York-based investment manager and advisor, which was founded
in 1864.

You should consider the investment objective, risks, and charges and expenses of
the Fund carefully before investing. A prospectus containing information about
the Fund (including its investment objectives, risks, charges, expenses, and
other information about the Fund) may be obtained by contacting your financial
advisor or Seligman Advisors, Inc. at 800-221-2783. The prospectus should be
read carefully before investing in the Fund.