X0201 42004-01-15 0000098246 TIFFANY & CO TIF 0001016748 MARQUIS CHALES K TIFFANY & CO. 727 FIFTH AVENUE NEW YORK NY 10022 1000 Common Stock $.01 Par81568DNon-Qualified Stock Option (Right to Buy)39.752004-01-154A075000A2014-01-15Common Stock75007500DGranted pursuant to the Tiffany & Co. 1998 Directors Option Plan, which complies with Rule 16(b)-3. The option vests in two equal installments on January 15, 2005 and 2006.Patrick B. Dorsey, Attorney-in-Fact for Charles K. Marquis2004-01-16