Exhibit 99.1


                                  TIFFANY & CO.
                                  NEWS RELEASE

Fifth Avenue & 57th Street                                    Contacts:
New York, N.Y. 10022                                          ---------
                                                              James N. Fernandez
                                                              (212)230-5315
                                                              Mark L. Aaron
                                                              (212)230-5301


                   TIFFANY INCREASES QUARTERLY DIVIDEND BY 25%
                   -------------------------------------------


New York,  May 20, 2010 -The Board of  Directors  of Tiffany & Co.  (NYSE - TIF)
today  declared a dividend of $0.25 per share of Common Stock,  which reflects a
25% increase in the quarterly rate. This is the second announced increase in the
quarterly  dividend  payment  policy  since the start of the  calendar  year and
increases the quarterly  dividend from $0.20 per share (or $0.80  annually) to a
new rate of $0.25 per share (or $1.00 per share annually).

Michael  J.  Kowalski,  chairman  and chief  executive  officer,  announced  the
increase at the Company's Annual Meeting of Stockholders and said, "Following an
18% increase in the quarterly dividend rate earlier this year, this action again
demonstrates  the Board's  recognition of our strong balance sheet liquidity and
their confidence in Tiffany's long-term earnings growth potential."

The dividend  declared  today will be paid on July 12, 2010 to  stockholders  of
record on June 21, 2010.  Future  dividends  are subject to  declaration  by the
directors.

Company Description
-------------------
Tiffany & Co.  operates  jewelry 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.   For  additional  information,   please  visit
www.tiffany.com or call our shareholder information line at 800-TIF-0110.


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