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Framingham/Natick Retail NewsCenter

Tiffany to Open Store in Natick, Massachusetts

Title: Tiffany to Open Store in Natick, Massachusetts

Author: Press Release

Publication: Press Release

Date of Publication: March 20, 2007

Corresponding Retail Development: Natick Collection 2007 Expansion

Corresponding Town: Natick

Web Site Link: http://www.shareholder.com/tiffany/releasedetail.cfm?ReleaseID=234425


NEW YORK, NY (March 20, 2007) -- Tiffany & Co. (NYSE: TIF) today announced plans for the September 2007 opening of an approximately 5,300 gross-square-foot store in the Natick Collection, an upscale luxury retail center in Natick, Massachusetts. Owned and managed by General Growth Properties, Inc. (NYSE:GGP), the center is currently undergoing a major expansion that will include 500,000 square feet of retail and restaurants, as well as elegant condominium residences.

The new store will offer an array of renowned TIFFANY & CO. collections, such as the jeweler's celebrated diamonds, including engagement rings, and jewels of ultimate glamour in platinum and eighteen-karat gold settings; rare and lustrous pearls; the signature designs of Elsa Peretti, Paloma Picasso, Jean Schlumberger, and the artful twists and curves of Frank Gehry; watches; accessories; china and crystal gifts.

"The Natick Collection is positioned to become a premier destination for shopping and will also provide the region's upscale clientele with the consummate lifestyle," said Beth O. Canavan, executive vice president of Tiffany & Co. "The architects' plans for an open and spacious environment beautifully landscaped and with many compelling amenities, fit perfectly with our own plans for bringing Tiffany quality, craftsmanship and superior service to this sophisticated market."

"We are delighted that Tiffany & Co. has chosen to open a retail store at Natick Collection," said Lori Pawley, vice president of fashion retailing at General Growth Properties. "Tiffany & Co. exemplifies the new identity and unparalleled shopping and lifestyle experience we are creating. The Natick Collection represents our intention to gather the finest stores and designers together to provide a one-of-a-kind lifestyle experience."

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 information line at 800-TIF-0110.

Natick Collection is owned and managed by General Growth Properties, Inc. the second largest U.S.-based publicly traded Real Estate Investment Trust (REIT). General Growth currently has an ownership interest in or management responsibility for a portfolio of more than 200 shopping malls in 45 states, as well as ownership in planned community developments and commercial office buildings. The portfolio in totals approximately 200 million square feet of retail space and includes more then 24,000 retail stores nationwide. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information, please visit the Company Web site at http://www.generalgrowth.com.

TIFFANY & CO. and TIFFANY are trademarks of Tiffany and Company.

Mark L. Aaron
(212) 230-5301
Linda Buckley
(212) 277-5900


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