Tiffany to Open a Second Store in Toronto

Business Wire, July 16, 2008

Jeweler Slated to Open in Yorkdale Luxury Retail Centre in May 2009

NEW YORK -- Tiffany & Co. (NYSE: TIF) today announced plans for a spring 2009 opening of an approximately 6,200-square-foot store in Yorkdale Shopping Centre, one of Canada's premier shopping destinations, located at Dufferin Street and Highway 401 in the Greater Toronto area. Owned and managed by Oxford Properties Group, Yorkdale's architecturally stunning interior was expanded in 2005 to encompass 1.6 million square feet, with a soaring 60-foot-high glass atrium and newly designed wing to include luxury retailers.

The new TIFFANY & CO. store will feature a 25-foot-high fa[?]ade with a Mondrian-like stone pattern, Black Zimbabwe marble arch, and Atlas Clock above the entrance. Tiffany's iconic, deco-inspired stainless steel doors will lead to a spacious interior of elegant jewelry salons with gleaming stainless steel showcases, mottled Makore wood and custom furnishings and wall coverings.

"Tiffany is well established in Toronto and it gives us great pleasure to provide our growing number of customers with the convenience of shopping in the ideally located Yorkdale," said Beth O. Canavan, executive vice president of Tiffany & Co. "With its recent expansion and elegant upgrade, the centre presents the perfect atmosphere for us to serve everyone with the superior quality, craftsmanship and design excellence that are synonymous with Tiffany & Co."

The new store will be arrayed with exclusive TIFFANY & CO. collections. Among them are the jeweler's celebrated diamonds in engagement rings and jewels of ultimate glamour; fine and sterling silver jewelry; the celebrated designs of Elsa Peretti, Paloma Picasso, Jean Schlumberger and Frank Gehry; watches; gifts and accessories.

"Oxford is excited to welcome Tiffany & Co. to Yorkdale," says John Morrison, Senior Vice President, Real Estate Management, Oxford Properties Group. "The Tiffany brand is strongly aligned with the profile of the Yorkdale shopper and will further enhance the strategic merchandising direction we continue to take at Yorkdale. Yorkdale has among the highest sales productivity of any Canadian shopping centre, and we are confident Tiffany will expand on our customer appeal."

Tiffany also operates a store at 85 Bloor Street West in Toronto.

TIFFANY & CO. operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the Americas, Asia-Pacific and Europe and engages in direct selling through Internet, catalog and business gift operations. Other operations include consolidated results from ventures operated under trademarks or trade names other than TIFFANY & CO. For additional information, please visit tiffany.com, tiffany.ca, or call the shareholder information line at 800-TIF-0110.

Building returns on intelligence, Oxford Properties Group combines real estate expertise, fast execution and unsurpassed access to capital to provide a global platform for real estate investments and deliver superior risk-adjusted returns.

TIFFANY & CO. and TIFFANY are trademarks of Tiffany and Company.