Saleen is one of the best-known creators of aftermarket performance Mustangs. For nearly two decades, the company has been tweaking America’s favorite performance car to extract more power, better handling, and improved braking. Garishly outfitted with signature decals, scoops and spoilers, Saleen Mustangs have sold in small but reliable numbers, enough to allow the small company to perform its magic on a wide range of Ford products from the Focus to the Thunderbird.

Accompanying the 2005 redesign of the Mustang is the 2005 Saleen S-281, originally introduced at the California Auto Show last fall. Three versions of the Saleen S281 are available to consumers: the standard S281, the S281-SC, and the S281-E. Each Saleen Mustang gets modified styling front and rear, boosts in power, suspension modifications, upgraded braking components, and unique interior trim.

For extreme performance, enthusiasts will want to pony up at least $65,000 for the new 2005 Saleen S281-E, which was introduced at the 2005 Chicago Auto Show as a coupe but will also be offered in convertible format. “E” stands for Extreme, and with a 500-horsepower engine generating about 480 lb.-ft. of torque, this Saleen has no problem living up to its name.

Only the 4.6-liter V8 motor’s block is retained – Saleen replaces everything else and re-assembles the engine in-house. The S281-E contains a forged steel crankshaft and connecting rods, forged aluminum pistons, and special aluminum cylinder heads with unique valve springs and performance camshafts. The result is an engine with a higher redline and more power.

Then Saleen installs a twin-screw supercharger to blow the horsepower and torque ratings into the stratosphere. With all this firepower on board, Saleen claims that the S281-E will run to 60 mph in about 4.5 seconds and can blaze the quarter mile in 12.1 seconds at 117 mph. Other engine modifications include a Saleen PowerFlash performance engine management system, a variable design muffler system that reduces engine backpressure while creating an intoxicating wail at speed, and a free-flow air cleaner.

A heavy-duty, close-ratio Saleen six-speed manual transmission manages the muscular mill, shunting power through a high-performance flywheel and clutch disc assembly to a custom-balanced driveshaft and Saleen MaxGrip limited-slip rear differential.

Suspension modifications include Saleen Racecraft springs, shocks and anti-roll bars. Additional S281-E upgrades include boxed rear lower control arms and a specific Panhard rod to better locate the solid rear axle during hard driving. Huge and handsome 20-inch alloy wheels are stuffed into the wheel wells, wearing low-profile Pirelli P-Zero Rosso performance tires and covering 14-inch drilled brake rotors, which are the same size as those found on the Ford GT supercar.

A unique body kit visually differentiates the Saleen S281-E from lower-performance models, and it includes a front splitter and a special rear diffuser. Saleen HID headlights are included, but the dead giveaway that you’re seeing a Saleen S281-E is the rear quarter window insert that effectively creates the look of a solid panel..

Inside, specially bolstered sport seats, high-grip racing-inspired pedals, a short-throw shift lever, a unique Saleen gauge cluster, special interior trim, and specific floor mats make the S281 different from a run-of-the-mill Mustang. Both the S281-SC and S281-E models have a twin gauge pod atop the dash that displays supercharger boost pressure and air temperature. Each Saleen S-281 is well equipped, leaving just two extra cost ptions for the 2005 Saleen S281-E: 19-inch wheels wearing Pirelli Corsa summer tires, and a Shaker 500 audio system with in-dash CD changer.

When the 2005 Saleen S281-E arrives this summer, it will beat obvious competitors such as the Chevrolet Corvette Z06 and Dodge Viper SRT10 Coupe, which boast of greater performance numbers, to market by a driving season. Though it may be King of the Hill for just a short while, the Saleen S281-E will always be one of the hottest Mustangs built yet.