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TIFFANY + CO.

About Gander Mountain Company
Gander Mountain Company (Nasdaq: GMTN), headquartered in Saint Paul,
Minnesota, leads specialty retailers in serving the needs of outdoor
enthusiasts with products and services for hunting, fishing, camping and
boating.

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Founded in
1837, Tiffany now operates more than 150 TIFFANY + CO. All forward-looking statements in this release
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.

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PAUL, Minn. (replacement)
Salisbury, Md.

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Business Editors

NEW YORK----Tiffany + Co. (NYSE:
TIF) today announced plans to open a store in Brisbane, Australia , in
spring 2005. Gander
Mountain stores offer a broad assortment of equipment, apparel and services
for hunting, fishing, camping, boating and other outdoor pursuits at great
value, while delivering exceptional service through knowledgeable associates
who are passionate about the outdoors. Texarkana, Texas
Johnstown, Pa. Woodbury, Minn .com and at the SEC's website
at http://www.

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"
In Australia, Tiffany also has stores located on Castlereagh
Street in Sydney and on Collins Street in Melbourne.
"We are looking forward to introducing the Gander Mountain brand in four
new states this year, Arkansas, Kansas, North Carolina and Maryland, all of
which are home to many outdoor enthusiasts," said Mark Baker, president and
CEO.

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The company has already opened eight new
stores in 2005, including the replacement of its store in Duluth, Minn.

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The store will offer an array of renowned Tiffany collections,
including the jeweler's celebrated engagement diamonds and jewels of
ultimate glamour in platinum and eighteen -karat gold settings; the
Atlas(TM) jewelry collection inspired by the Atlas clock that graces
Tiffany 's Fifth Avenue flagship store; watches, including the classic
Tiffany Mark(TM) that underscores Tiffany 's reputation as one of the
world's premier watchmakers; the signature designs of Elsa Peretti,
Paloma Picasso and Jean Schlumberger; sterling silver jewelry and
accessories and crystal gifts. Most of the new stores are 60,000 to
65,000 square feet plus outside selling space, and all will include ATV sales
and service, an in-store professional gunsmith, a full-service archery shop
with shooting lanes and a Gander Lodge meeting space available to local
organizations free of charge.GanderMountain .com .sec.

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The approximately 2,100 gross square foot store will be
located on the ground floor of the new Queens Plaza shopping mall on
Queen Street in Brisbane.
"We look forward to expanding our presence in Australia with a new
location in the heart of Brisbane's vibrant commercial center ," said
Peter Markus, managing director, Tiffany + Co. For
additional information, please visit www.

Gander Mountain Company Announces Lease Signings for 11 New Stores to Open in Summer and Fall 2005

We look forward to building on the enthusiastic customer
response to our grand openings this year. Gander Mountain offers competitively priced outdoor equipment,
technical apparel and footwear , as well as gunsmith, archery, ATV and marine
services.

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retail stores
and boutiques in the Americas , Asia-Pacific and Europe and engages in
direct selling through Internet, catalogue and business gift
operations. "Entering these new markets furthers our goal of diversifying our store
base geographically .

Shops operated by Scouting and Guiding councils or national or world scouting organizations that sell scout equipment, badges, uniforms, and ancillary items.

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operates jewelry and specialty retail stores and
manufactures products through its subsidiary corporations., TIFFANY, and TIFFANY MARK are trademarks of Tiffany
and Company.C.

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Its
principal subsidiary is Tiffany and Company ("Tiffany").tiffany . Focused on a We Live Outdoors(R) culture, Gander
Mountain dedicates itself to creating outdoor memories .

Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts
are forward-looking statements.

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(replacement) Sherman, Texas
Greensboro, N.
Joliet, Ill. For the nearest store
location call 800-282-5993 or visit http://www.

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"
The new stores, scheduled to open in between June and October , will be
located in the following markets:

Baxter, Minn.
Greenwood, Ind. There are currently 89
Gander Mountain outdoor lifestyle stores in 14 states. Certain of these risks and uncertainties are described in
the "Risks and Factors Affecting Current and Future Results" section of the
company's Annual Report on Form 10-K for fiscal 2004, as filed with the SEC,
which is available at http://www.GanderMountain.

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The Company's Specialty Retail operations include
consolidated results from retail ventures operated by subsidiaries
other than Tiffany under separate trademarks or trade names.

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Australia. These statements involve known and unknown
risks, uncertainties and other factors that may cause our actual results,
performance or achievements to be materially different from any future
results, performances or achievements expressed or implied by the forward-
looking statements .gov .

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The stores feature national and regional brands as well as the
company's owned brand.

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ST. Sherwood, Ark.

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Tiffany to Open Store in Brisbane Australia

Wichita, Kan.

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"The area is
ideal for creating an exciting retail environment to showcase the
quality, craftsmanship, and superior service that are the hallmarks of
Tiffany's great heritage.

Tiffany + Co., Gander Mountain Company
(Nasdaq: GMTN) today announced the signing of leases for 11 new outdoor
lifestyle specialty stores to open in the summer and fall of 2005, including
one replacement store, in line with the company's announced plans to open a
total of 18 to 20 new stores in 2005.