Exhibit (a)(1)(viii)




TIFFANY & CO. ANNOUNCES INTENT TO ACQUIRE OUTSTANDING SHARES OF LITTLE
SWITZERLAND, INC.

New York, NY, August 12, 2002 - Tiffany & Co. (NYSE: TIF), announced today that
its wholly-owned subsidiary, TSAC Corp., has entered into a stock purchase
agreement with Seymour Holtzman and certain of his affiliates, including
Jewelcor Management, Inc., to purchase their shares of the common stock of
Little Switzerland, Inc. (OTCBB: LSVI.OB), representing approximately 12% of the
outstanding Little Switzerland common stock, at $2.40 per share. Tiffany
currently beneficially owns approximately 45% of Little Switzerland's
outstanding common stock. The stock purchase agreement contemplates that TSAC
Corp. promptly will commence a cash tender offer to acquire the balance of the
outstanding shares of Little Switzerland's common stock at $2.40 per share. The
stock purchase agreement will be subject to conditions identical to the
conditions of the tender offer, including the minimum tender and majority of the
minority conditions described below.

The purchase price of $2.40 per share represents a 73 percent premium over the
closing price of $1.39 on August 12, 2002. Neither the stock purchase agreement
nor the tender offer is conditioned on Tiffany & Co. or any of its subsidiaries
obtaining any financing or the approval of Little Switzerland's Board of
Directors. The stock purchase agreement and the tender offer are, however,
subject to the tender of a sufficient number of Little Switzerland shares so
that, upon the closing of the tender offer and the stock purchase agreement,
Tiffany would beneficially own at least 90% of the outstanding Little
Switzerland common stock on a fully-diluted basis. In addition, the stock
purchase agreement and the tender offer are subject to the tender of at least a
majority of the outstanding Little Switzerland shares, excluding shares
beneficially owned by Tiffany, Mr. Holtzman or any of Mr. Holtzman's affiliates.

Tiffany & Co. expects to commence the tender offer on or soon after August 15,
2002. Tiffany anticipates causing TSAC Corp. to acquire any shares not purchased
under the stock purchase agreement and in the tender offer through a "short
form" merger at the same cash price per share as the tender offer, so long as
the tender offer is successful and Tiffany & Co. beneficially owns at least 90%
of the outstanding shares of Little Switzerland Common Stock after its
completion, including the shares purchased pursuant to the stock purchase
agreement. Lehman Brothers Inc. acted as financial advisor to Tiffany & Co. and
will be acting as Dealer Manager for the tender offer.

If the tender offer is successful, Tiffany & Co. intends to operate Little
Switzerland as a separate business unit under the trade name LITTLE SWITZERLAND.

Little Switzerland, headquartered in St. Thomas, U.S. Virgin Islands, is a
specialty retailer of luxury items, operating retail stores primarily in the
Caribbean and Alaska. This transaction is expected to result in minimal, if any,
dilution to Tiffany's earnings in 2002 and 2003.

Tiffany & Co. is the internationally renowned jeweler and specialty retailer.
Sales are made primarily through company-operated TIFFANY & CO. stores and
boutiques in the Americas, Asia-Pacific and Europe. Direct Marketing includes
Tiffany's Business Sales division, catalog and Internet sales. Additional
information can be found on Tiffany's Web site, www.tiffany.com, and on its
shareholder information line (800) TIF-0110.

This press release contains certain "forward-looking" statements concerning
expectations, anticipations, beliefs, hopes, intentions, or strategies for the
future. Readers are cautioned not to place undue reliance on forward-looking
statements. All such forward-looking statements are based upon information
available to Tiffany & Co. on the date this release is issued. Tiffany & Co.
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
Forward-looking statements involve risks and uncertainties that could cause
actual events or results to differ materially from the events or results
described in the forward-looking statements.

THIS ANNOUNCEMENT IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER
TO SELL SHARES OF LITTLE SWITZERLAND. TIFFANY & CO. INTENDS TO FILE AN OFFER TO
PURCHASE AND A LETTER OF TRANSMITTAL WITH THE SECURITIES AND EXCHANGE COMMISSION
("SEC") RELATING TO ITS OFFER TO PURCHASE ALL OUTSTANDING SHARES OF COMMON STOCK
OF LITTLE SWITZERLAND. BEFORE ANY DECISION IS MADE WITH RESPECT TO THE OFFER,
ALL STOCKHOLDERS OF LITTLE SWITZERLAND ARE STRONGLY ADVISED TO READ THE OFFER TO
PURCHASE AND LETTER OF TRANSMITTAL WHEN THESE DOCUMENTS BECOME AVAILABLE AND THE
RELATED SOLICITATION/RECOMMENDATION STATEMENT THAT LITTLE SWITZERLAND IS
REQUIRED TO FILE WITH THE SEC BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT
INFORMATION RELATING TO THE OFFER. THESE DOCUMENTS WILL BE AVAILABLE AT NO
CHARGE ON THE SEC'S WEBSITE AT HTTP://WWW.SEC.GOV, OR BY CONTACTING MORROW &
CO., INC. AT 1-800-607-0088.


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