Forty-five years after he introduced the original Ford Mustang, launched at a dramatic press conference at the 1964 New York World’s Fair, auto industry visionary Lee Iacocca today announced a new version of the famous pony car--the Iacocca Silver 45th Anniversary Edition Ford Mustang, which will be painted in a special silver hue selected by Lee himself.

More on this cool, new Mustang, after the jump...

Nearly two years in the making, the Iacocca Silver Edition Mustang is a collaborative effort by Lee, designer Michael Leone, and Gaffoglio Family Metalcrafters, the world-class coachbuilding and Design Company in Fountain Valley, California. The group's new business venture is called I Legacy, and they've given Galpin Ford of North Hills, California, the exclusive opportunity to offer Iacocca Silver 45th Anniversary Edition Mustangs to the public.

The Silver Edition Mustang is based on a 2009 Mustang platform, which is then uniquely modified and coachbuilt. Two engine options are available; a naturally aspirated 4.6-Liter 3V rated at 320 horsepower, and an optional supercharged version that pumps out 400 ponies at the crank. Five-speed manual transmissions sit behind both engines, which are covered by full factory Ford warranties.

Down below, the special-edition 'Stang's suspension has been upgraded with Ford Racing Performance Parts' S197 Handling Package, which includes firmer springs and re-valved shock absorbers, and 14-inch FRPP brakes are optional.

On the inside, the Iacocca Silver Mustang's cockpit features touches that highlight the car's special heritage, including Iacocca Diamond Design leather seats with embroidery stitching, an Iacocca signature dash plaque with serial number, a leather-wrapped steering wheel with “I” badge, and Iacocca-badged aluminum door sill plates.

The word is, only 45 Iacocca Silver Edition Mustangs are being built. Pricing hasn't been announced yet for this unique Mustang, but Galpin Ford www.gogalpin.com will be selling them starting in late July, we're told.