THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Tiffany & Co. (TIF)

4/14/2006 Proxy Information

In determining that Ms. Kohnstamm is independent, the Board considered that IBM Corporation, of which she was an officer until January of 2006, and to which she now provides consulting services, sells data-processing and communication hardware, software and services to Tiffany and Tiffany sells business gifts to IBM. However, these sales constitute far less than one percent of the consolidated sales of each seller (IBM and Tiffany, respectively). The Board considered all relevant facts and circumstances including the amount of such sales in the context of the size of the businesses of the Company and IBM Corporation, the fact that Ms. Kohnstamm was not responsible at IBM Corporation for such sales in the course of her duties, and that such sales were long-standing business practices prior to the time Ms. Kohnstamm was recruited to the Board.

4/14/2005 Proxy Information

In determining that Ms. Kohnstamm is independent, the Board considered that IBM Corporation, of which she is an officer, sells data-processing and communication hardware, software and services to Tiffany and Tiffany sells business gifts to IBM. However, these sales constitute far less than one percent of the consolidated sales of each seller (IBM and Tiffany, respectively). The Board considered all relevant facts and circumstances including the amount of such sales in the context of the size of the businesses of the Company and IBM Corporation, the fact that Ms. Kohnstamm is not responsible at IBM Corporation for such sales in the course of her duties, and that such sales were long-standing business practices prior to the time Ms. Kohnstamm was recruited to the Board.

William R. Chaney served as Chairman of Tiffany & Company from August 1984 to January 2003 and as Chief Executive Officer from August 1984 to February 1999.

Mr. William A. Shutzer, a current member of our Board of Directors, was formerly employed with Lehman in various capacities and provided consulting services to Lehman from December 2003 until April 2004. Mr. Shutzer or a company by which he is employed may provide investment banking or other financial advisory services to the Company in the future. For this reason, the Board of Directors made a determination in April 2005 not to characterize him as “independent” pursuant to the NYSE corporate governance listing standards.

4/12/2004 Proxy Information

William R. Chaney served as Chairman of Tiffany & Company from August 1984 to January 2003 and as Chief Executive Officer from August 1984 to February 1999.

In determining that Ms. Kohnstamm is independent, the Board of Directors considered that IBM Corporation, of which she is an officer, and its affiliated companies sell data-processing and communication hardware, software and services to Tiffany and purchase business gifts from Tiffany. The Board considered all relevant facts and circumstances including the amount of such purchases and sales in the context of the size of the businesses of the Company and IBM Corporation and the fact that Ms. Kohnstamm is not responsible at IBM Corporation for such purchases or sales in the course of her duties.

4/8/2003 Proxy Information

IBM Corporation and its affiliated companies provide data-processing and communication hardware, software and services to Tiffany and purchase business gifts from Tiffany. Abby F. Kohnstamm is the Senior Vice President, Marketing of IBM Corporation.