INVESTMENT LETTER SELIGMAN PREMIUM TECHNOLOGY GROWTH FUND, INC.
Exhibit 99.P
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 14th day of
October, 2009.
| SELIGMAN PREMIUM TECHNOLOGY GROWTH FUND, INC. | ||||||||||
| By: | /s/ Xxxxxxx X. Xxxxxxxx | |||||||||
| Name: Xxxxxxx X. Xxxxxxxx | ||||||||||
| Title: President | ||||||||||
| RIVERSOURCE INVESTMENTS, LLC | ||||||||||
| By: | /s/ Xxxxxxx X. Xxxxxxxx | |||||||||
| Name: Xxxxxxx X. Xxxxxxxx | ||||||||||
| Title: President | ||||||||||
