Exhibit (a)(1)(xi)



TSAC CORP. Extends Offer and related Withdrawal Rights for Little Switzerland,
Inc. at $2.40 per share.

New York, NY, October 2, 2002 - Tiffany & Co. (NYSE: TIF) announced today that
its wholly-owned subsidiary, TSAC Corp., is extending the right to withdraw
shares previously tendered in its offer for all outstanding shares of Little
Switzerland, Inc. (OTCBB: LSVI.OB) at a price of $2.40 per share. Little
Switzerland stockholders now have until 5:00 p.m., New York City time, on
Tuesday, October 8, 2002 to withdraw any shares previously tendered.

Tiffany confirmed that it remains committed to closing the tender offer and
purchasing all shares that have been validly tendered and not withdrawn,
promptly after the conclusion of this extended offer and withdrawal period.
Tiffany also confirmed that it will commence its previously-announced subsequent
offer period on October 8, 2002. The subsequent offer period will run from that
date through October 25, 2002.

TSAC Corp. is extending withdrawal rights for two reasons. First, to give Little
Switzerland stockholders additional time to receive notice of TSAC Corp.'s
September 30 announcement that it had waived a condition to the closing of the
tender offer. Second, to provide Little Switzerland stockholders with an
opportunity to withdraw previously tendered shares. The condition waived was the
requirement that a sufficient number of Little Switzerland shares be tendered so
that, upon the closing of the tender offer and a stock purchase agreement with
Seymour Holtzman and his affiliates, Tiffany would beneficially own at least 90%
of the outstanding Little Switzerland common stock on a fully-diluted basis.

As of 5:00 p.m., New York City time, on Tuesday, October 1, 2002, approximately
4,381,063 shares of Little Switzerland that had been validly tendered (including
approximately 20,319 shares that were guaranteed to be delivered), which, when
added to the shares already held by TSAC Corp. and its affiliates and the shares
to be purchased from Seymour Holtzman and certain of his affiliates, including
Jewelcor Management, Inc., pursuant to a separate stock purchase agreement,
represent approximately 79.8% of the issued and outstanding shares of Little
Switzerland as of October 2, 2002.

Tiffany & Co. and TSAC Corp. continue to believe that the offer and the related
merger with Little Switzerland are procedurally fair to Little Switzerland's
stockholders who are not affiliated with any of Tiffany & Co., TSC Corp., Mr.
Holtzman and his affiliates. Although the offer to purchase noted that
consideration was given to the 90% minimum condition in reaching this
determination, the fact that more than a majority of unaffiliated Little
Switzerland stockholders






supported the offer by tendering their shares in the offer provides Tiffany &
Co. and TSAC Corp. with a sufficient basis to believe that the offer is still
procedurally fair to unaffiliated stockholders.

Because TSAC Corp. has extended until October 8, 2002 the right to withdraw
shares previously tendered, TSAC Corp. will not pay for tendered shares, or for
shares to be purchased from Mr. Holtzman and his affiliates, on October 2, as
previously announced. Instead, TSAC Corp. intends to begin paying for all shares
validly tendered and not withdrawn, and all shares to be purchased from Mr.
Holtzman and his affiliates, promptly following the expiration of withdrawal
rights on October 8, 2002. In addition, TSAC Corp. intends to commence its
previously-announced subsequent offering period on Tuesday, October 8, 2002. The
expiration of the subsequent offering period has not changed and is scheduled to
expire at 5:00 p.m., New York City time, on October 25, 2002.

During the subsequent offering period, Little Switzerland stockholders who did
not previously tender their shares may tender their shares by following the
directions in the Offer to Purchase and related Letter of Transmittal filed with
the SEC by Tiffany & Co., Tiffany & Co. International and TSAC Corp.

During the subsequent offering period, TSAC Corp. will accept and promptly pay
for all shares as they are tendered. TSAC Corp. will purchase the tendered
shares at a price of $2.40 per share. Shares that are tendered during the
subsequent offering period may not be withdrawn. Tiffany & Co., Tiffany & Co.
International and TSAC Corp. reserve the right to extend the subsequent offering
period in accordance with applicable law.

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 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. HAS FILED 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







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RESPECT TO THE OFFER, ALL STOCKHOLDERS OF LITTLE SWITZERLAND ARE STRONGLY
ADVISED TO READ THE OFFER TO PURCHASE AND LETTER OF TRANSMITTAL FILED WITH THE
SEC AND THE RELATED SOLICITATION/RECOMMENDATION STATEMENT THAT LITTLE
SWITZERLAND HAS FILED WITH THE SEC BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT
INFORMATION RELATING TO THE OFFER. THESE DOCUMENTS ARE 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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