Exhibit 99.1

FOR IMMEDIATE RELEASE

MEDIA CONTACT:                          STOCKHOLDER CONTACT:

Hank Green                              Marco Acosta
212-867-0132                            800-597-6068 (Option #1)
hank@benabe.com                         acostam@jwseligman

Seligman  Quality  Municipal  Fund,  Inc.  Settles  Proxy  Contest  with Bulldog
Investors General Partnership/Karpus Management, Inc. Group; Will Adjourn Annual
Meeting to November 10, 2006

New York, NY, October 18, 2006 -- Seligman  Quality  Municipal Fund, Inc. (NYSE:
SQF) (the "Fund") announced today that it has entered into an agreement settling
the  proxy  contest  with  Bulldog  Investors  General  Partnership  and  Karpus
Management, Inc. (collectively,  the "Group") relating to the Fund's 2006 annual
meeting of stockholders.

As a result of the  agreement,  the Group has agreed to cease its proxy  contest
and that it will not hold an alternative  meeting of the Fund's  stockholders to
vote on its purported  nominees for Director and the various other  proposals in
its proxy  statement dated September 25, 2006. The Group has also agreed that it
will not vote any proxies  provided to it as a result of its  solicitation.  The
Group and the Fund have also agreed not to pursue litigation against each other,
their directors, or their affiliates.

Should a quorum be present at the Annual Meeting,  and if more votes are cast in
favor of the Group's stockholder  proposal to open-end the Fund than against it,
the Fund has agreed to include in its definitive  proxy  statement for a meeting
of  stockholders to be held early in 2007 either a proposal to open-end the Fund
or a  proposal  to  liquidate  the  Fund  and  to  recommend  such  proposal  to
stockholders.

The  Fund  has  also  agreed  that it will  call to  order  and,  following  the
chairman's  remarks,  adjourn the  upcoming  October 19, 2006 annual  meeting of
stockholders to November 10, 2006. This adjournment will provide additional time
for the Fund's  solicitation  of  proxies.  A  supplement  to the  Fund's  proxy
statement will be sent to stockholders in the next few days.

Thomas  Moles,  Executive  Vice  President  of the Fund,  said:  "We believe the
agreement  with the Group is in the best  interests of the Fund, as it allows us
to resolve the  differences  between the Group and the Fund and enables the Fund
to limit the costs,  distraction and disruptions  associated with continuing the
proxy fight with the Group." Seligman Quality Municipal Fund, Inc. 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 objectives, risks, charges, and expenses of a
Fund carefully before  investing.  You can obtain the Fund's most recent annual,
semi-annual  and  quarterly  reports by  contacting  your  financial  advisor or
Seligman Services, Inc. at 800-597-6068. These reports and other information are
also available on the Securities and Exchange Commission's EDGAR Database.