Tiffany & Co. to Open Store in Madrid, Spain

Tiffany & Co. (NYSE: TIF), the internationally renowned jeweler,
today announced plans to open a store in Madrid, Spain, in fall 2008.
The approximately 5,400-square-foot store will occupy two levels in a
landmark building at No. 10, Calle Jose Ortega y Gasset, the city´s
premier location for luxury shopping.

Tiffany architects and designers will preserve the building´s
original facade, creating a two-story entry rotunda of stone that
opens to a modern and gracious interior with Macassar and walnut
woods, custom furnishings, and brushed stainless steel showcases
arrayed with exclusive TIFFANY & CO. collections. Among them are the
jeweler´s exquisite 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; signature collections such as Tiffany Atlas(R) and Tiffany
1837(TM); watches; gifts and accessories.

"We look forward to opening a TIFFANY & CO. store in such a
vibrant and dynamic city," said Cesare Settepassi, vice president and
managing director, Tiffany & Co. Europe. "Our prominent location in a
landmark building in Madrid´s most desirable shopping area provides us
with the ideal environment for introducing customers to Tiffany´s own
heritage of product design and outstanding service for which it is
known worldwide."

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 www.tiffany.com.

TIFFANY & CO., TIFFANY, ATLAS and TIFFANY 1837 are trademarks of
Tiffany and Company.