Forty-five years after he introduced the original Ford Mustang at the 1964 New York World's Fair, auto industry stalwart Lee Iacocca today announced a new version of the famous muscle car – the Iacocca Silver 45th Anniversary Edition Ford Mustang. Featuring a unique Mustang fastback look, only 45 of the "2009½" special edition cars will be built, each finished in a unique "Iacocca" chosen silver hue.

Nearly two years in the making, the Iacocca Silver Edition Mustang is a collaborative effort by Iacocca, designer Michael Leone, and coachbuilder Gaffoglio Family Metalcrafters. The project is in fact the first of a new customization program called I Legacy, and together with Californian dealership Galpin Ford the cars are being offered for public sale.

The car is largely hand-built and features a number of unique elements such as the sunken headlights, slanted grill and low stance. Based around the now superseded 2009 Mustang platform, the car is available with either a normally-aspirated 4.6L V8 rated at 320hp (239kW) and an optional supercharged version that delivers 400hp (298kW). A five-speed manual is fitted as standard on both cars.

The suspension has also been upgraded to keep pace with the power delivery. A Ford Racing Handling Package adds firmer springs and re-valved shock absorbers. A 14in Ford Racing Braking Package is optional. The wheels measure 20in and made from forged aluminum.

Inside, the car comes with diamond stitched leather trim, an Iacocca signature dash plaque and serial number, a leather-wrapped steering wheel and aluminum door sill plates.

The car will first appear in late July at the Southern Californian Galpin Ford dealership, with contact and availability details soon to be released on