Exhibit (a)(4)

Press Release

CONTACTS:

Robert L. Baumgardner, CEO
Patrick J. Hopper, CFO
Little Switzerland, Inc.
340-776-2010
                              FOR IMMEDIATE RELEASE

           SPECIAL COMMITTEE OF LITTLE SWITZERLAND'S BOARD OF DIRECTORS
                RECOMMENDS THAT STOCKHOLDERS ACCEPT TENDER OFFER

ST. THOMAS, U.S. VIRGIN ISLANDS -- -- (August 29, 2002) -- Little Switzerland,
Inc. (OTC Bulletin Board: LSVI), the Caribbean-based specialty retailer,
announced today that the Special Committee of Little Switzerland's Board of
Directors has reviewed Tiffany & Co.'s (NYSE: TIF) unsolicited tender offer for
all of the outstanding shares of Little Switzerland's common stock that Tiffany
and its subsidiaries do not currently own for $2.40 per share in cash, and,
after taking into account the various factors described in Little Switzerland's
Schedule 14D-9 filed today with the Securities and Exchange Commission, has
recommended to Little Switzerland's stockholders that they tender into the
offer.

This press release is neither an offer to purchase nor a solicitation of an
offer to sell securities of Little Switzerland, Inc. Stockholders are advised
to make their own decisions on whether to tender their shares and accept the
offer, based on all of the available information, including the factors
considered by the Special Committee. These factors are described in Little
Switzerland's Schedule 14D-9, which is being filed today with the Securities
and Exchange Commission and mailed to stockholders. The Special Committee
urges each stockholder to read the factors considered by the Special
Committee in Little Switzerland's Schedule 14D-9, as well as the tender offer
statement, which was filed by Tiffany with the U.S. Securities and Exchange
Commission on August 15, 2002, prior to making any decision regarding the
offer. The solicitation/recommendation statement and the tender offer
statement (which includes an offer to purchase, letter of transmittal and
related tender offer documents) contain important information that should be
read carefully before any decision is made with respect to a tender offer.
Little Switzerland's stockholders are able to obtain a copy of these
documents from the purchasers' information agent, without charge, upon
request. These documents also are made available at no charge on the SEC's
web site at www.sec.gov.

Little Switzerland, Inc. is a leading specialty retailer of brand name
watches, jewelry, crystal, china and accessories, operating in 20 stores on
five Caribbean islands, Florida and Alaska. The Company's primary market
consists of vacationing tourists attracted by free-port pricing, duty-free
allowances and a wide variety of high quality merchandise.