Exhibit 99.P

INVESTMENT LETTER

SELIGMAN PREMIUM TECHNOLOGY GROWTH FUND, INC.

Seligman Premium Technology Growth Fund, Inc. (the “Fund”), a closed-end management investment company, and RiverSource Investments, LLC (“Purchaser”), intending to be legally bound, hereby agree as follows:

1.	In order to provide the Fund with initial capital, the Fund hereby sells to Purchaser and Purchaser hereby purchases 5,250 shares of common stock of the Fund (all such shares with a par value $0.01) at a price of $19.10 per share (the “Shares”) as of the close of business on or about October 14, 2009, which amounts to $100,275.00 for the Shares.
2.	Purchaser represents and warrants to the Fund that the Shares are being acquired for investment and not with a view to distribution thereof, and that Purchaser has no present intention to redeem or dispose of the Shares.

IN WITNESS WHEREOF, the parties have executed this agreement as of the 14^th day of October, 2009.

		SELIGMAN PREMIUM TECHNOLOGY GROWTH FUND, INC.
By:	/s/ Patrick T. Bannigan
			Name:  Patrick T. Bannigan
			Title:    President
		RIVERSOURCE INVESTMENTS, LLC
By:	/s/  William F. Truscott
			Name:  William F. Truscott
			Title:    President