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Caruso Affiliated is known for creating open-air community and regional retail environments that serve as fashionable local gathering places. Caruso's style has become a recognized brand within the tiffany industry and with California residents and visitors. The success of the company's stylish and elegant outdoor environments has challenged the traditional "mall" concept and continues to set a new standard in the industry. A recognized leader in this trend, Caruso Affiliated's growth is approximately two times that of the largest publicly traded REITs and sales per square foot at Caruso properties are 75 percent higher than the industry average.In addition to The Americana at Brand, other projects in development include The Shops at Santa Anita in Arcadia, CA and the company's first luxury destination resort in Montecito, CA, with the recent acquisition of the historic Miramar Hotel. Caruso Affiliated's portfolio of top performing retail properties includes The Grove in Los Angeles, the Waterside, Marina Del Rey, The Promenade at Westlake, The Lakes at Thousand Oaks, and The Commons at Calabasas. For more information, please visit www.carusoaffiliated.com.TIFFANY & CO. and TIFFANY are trademarks of Tiffany and Company.Tiffany & Co. is Tiffany Bangle on sale up to open the first of its smaller concept stores.A 2,600-square-foot unit is planned to open in October in the Americana at Brand, a new retail and residential development by Caruso Affiliated, in Glendale, Calif.In October, Tiffany set a rollout of 70 such small-footprint outposts across the U.S. The stores will only sell women's diamond, platinum, silver and gold jewelry ranging in price from slightly less than $100 to $15,000. The boutiques will not include Tiffany's higher-priced statement jewelry or engagement rings.

When the concept was revealed, Tiffany chairman and chief executive officer Michael J. Kowalski projected the stores would bring in $1,000 a square foot.Beth O. Canavan, executive vice president of Tiffany, said Wednesday that the new concept "is simply a new way of looking at Tiffany and the Americana at Brand is an ideal location to unveil it."In 2002, Tiffany launched a 5,000-square-foot store concept that also brings in sales of $1,000 a square foot. The company has 23 of these full-line stores and plans to open five to seven of them a year until reaching a total of 100.The average full-size Tiffany store, of which there are 46, spans about 7,100 square feet and generates $2,300 a square foot in sales. The firm has one U.S. Tiffany Bracelet on sale located on New York's Fifth Avenue that is 40,000 square feet, and in 2006, drew $6,200 a square foot.Jeweler to Open in City's Luxury Retail Center in November 2008Tiffany & Co.Mark L. Aaron, 212-230-5301mark.aaron@tiffany.comorLinda Buckley, 212-277-5900linda.buckley@tiffany.comTiffany & Co. (NYSE: TIF) today announced plans to open an approximately 6,200-square-foot store in Easton Town Center, located in Columbus, Ohio, in November 2008. The store's prominent corner location will anchor an area of the 1.7 million square-foot center that is currently undergoing renovation by the center's co-developers, The Georgetown Company and Steiner + Associates.

"Easton Town Center is a premier destination for shopping, dining and entertainment that will allow us to build on our success in this sophisticated market," said Beth O. Canavan, executive vice president of Tiffany & Co. "We have a prime corner location within a newly designed area of the center that will give us an open and spacious environment in which to welcome our many customers in the region to the Tiffany shopping experience of utmost quality and craftsmanship.""Tiffany CuffLink on sale announcement affirms Columbus as a metropolitan community worthy of the highest caliber and most selective retail," said Adam Flatto, president of The Georgetown Company. "Tiffany & Co. is one of the most highly sought after jewelers in the world, and we are proud to soon be the home to the only location in Columbus featuring their signature blue box."The new Tiffany store will showcase an array of the jeweler's celebrated collections. Among them are diamond engagement rings, diamond and gemstone jewels of ultimate glamour; sterling silver and fine jewelry; the signature designs of Elsa Peretti, Paloma Picasso, Jean Schlumberger and Frank Gehry; watches; accessories and gifts.Tiffany's web site, www.tiffany.com or www.tiffany.co.jp.Shares of Tiffany & Co. are expected to remain under pressure as the company faces a more challenging retail environment, said one analyst following the specialty retailer's lowered earnings guidance Friday.After trimming its earnings outlook on declining U.S. sales, shares of Tiffany & Co. slumped 11.2 percent to close Friday at $35.08.