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Tiffany & Co.:Mark L. Aaron, 212-230-5301Mark.aaron@tiffany.comORLinda Buckley, 212-277-5900Linda.buckley@tiffany.comORCaruso Affiliated:Karen Diehl, 310-396-2400Kdiehl@cswpr.comTiffany & Co. (NYSE: TIF) today Tiffany Key plans to open a smaller-format store in Glendale, California, in mid-October 2008. The approximately 2,600 square foot store will be located in The Americana at Brand, a new 900,000-square foot retail and residential environment developed by Caruso Affiliated. Covering 15.5 acres that are beautifully landscaped with fountains, plazas and walkways, the expansive property is designed as an ultimate lifestyle and leisure destination, with shops and boutiques, casual cafes, fine dining, and luxury residences.The store's clean, ultra modern environment invites relaxed browsing and interaction with contemporary TIFFANY & CO. collections, ranging from diamond jewelry in platinum and gold to an array of sterling silver jewelry. In this atmosphere of easy elegance and accessibility, visitors will discover the new and the renowned in TIFFANY & CO. design, strong statements at fashion's leading edge that underscore Tiffany's reputation as a premier jeweler and innovator. In addition, the collections allow customers to experiment Tiffany Key Ring designs responsive to fashion trends and create different looks to play up personal style."This exciting new concept is simply a new way of looking at Tiffany, and The Americana at Brand is the ideal location to unveil it," said Beth O. Canavan, executive vice president of Tiffany & Co. "The property has the feeling of an upscale community with a chic fashion district that will complement our sophisticated store design and jewelry assortment that is up-to-the-minute in style. At the same time, the store architecture and jewelry collections reflect our great tradition of quality and craftsmanship -- familiar aspects of the TIFFANY & CO. shopping experience that we look forward to delivering to our many customers in the important Los Angeles market."

"We are pleased to be the first retail environment in the world to unveil this new concept shop by Tiffany & Co.," stated Rick J. Caruso, CEO of Caruso Affiliated. "Rich in history and true luxury, Tiffany & Co. is simply the finest purveyor of diamonds, jewelry, and gift items."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 or call our shareholder Tiffany Set line at 800-TIF-0110.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 retail 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 Tiffany Watch information, please visit www.carusoaffiliated.com.Mississippi and Michigan, and has 50% investments in four other properties in Nevada, New Jersey, Illinois and Macau. MGM MIRAGE is developing major casino and non-casino resorts, separately and with partners in Las Vegas, Atlantic City, the People's Republic of China and Abu Dhabi, U.A.E. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE has received numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs