(c) Supplementary Table: Outstanding Director Option Awards at Fiscal Year End Name Aggregate Number of Option Awards Outstanding at Fiscal Year End (number of underlying shares) Rose Marie Bravo 107,216 William R. Chaney 207,500 Gary E. Costley 20,000 Abby F. Kohnstamm 70,000 Charles K. Marquis 148,924 J. Thomas Presby 45,000 William A. Shutzer 100,000 (d) The actuarial valuation shown takes into account the current age of the director and is based on the following assumptions consistent with those used in preparing the financial statements: 1994 Group Mortality Table, Male & Female; discount rate of 6.50% and retirement age of 65 (if the director is over age 65, the director is assumed to retire on January 31, 2008. Where a “0” appears in this column it is because there was a decline in value. In the case of Mr. Chaney, the decline was approximately $17,611. Discussion of Director Compensation Table Directors who are not employees of the Company or its subsidiaries are paid or provided with the following for their service on the Board: x An annual retainer of $50,000; x An additional annual retainer of $20,000, $10,000 or $5,000 to the chairperson of the Audit, Compensation, or Nominating/Corporate Governance Committee, respectively; x A per-meeting-attended fee of $2,000 for meetings attended in person (no fee is paid for attendance at any committee or subcommittee meetings which occur on the same day as a meeting of the full Board); x A fee of $1,000 for each telephonic meeting in which the director participates; x Stock options, as discussed below; and x A retirement benefit, also discussed below. Under Tiffany’s Amended and Restated Executive Deferral Plan, directors may defer up to one hundred percent (100%) of their cash compensation and invest the amounts they defer in various accounts and funds established under the plan. However, the Company does not guarantee any return on said investments. The following table provides data concerning director participation in this plan: Name Director Contribution In Last Fiscal Year ($) Registrant Contribution In Last Fiscal Year ($) Aggregate Earnings In Last Fiscal Year ($) Aggregate Withdrawals/ Distributions ($) Aggregate Balance At Last Fiscal Year End ($) Gary E. Costley $ 95,000 $ 0 $ (5,702) $ 0 $ 89,298 Charles K. Marquis $ 0 $ 0 $ 10,857 $ 0 $ 479,619 William A. Shutzer $ 66,000 $ 0 $ (35,049) $ 0 $ 658,420 TIFFANY & CO. PS-55 PROXY STATEMENT

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