In January of 1966, Shelby American sent a green GT350 to the Italian stylist and coachbuilder Ugo Zagato in Milan (by way of Ford Advanced Styling Vehicles in Slough, England). The car was a standard GT350 with a 4 speed transmission and over-ride traction bars. It received styling modification which included rectangular European headlights, parking lights and turn signals mounted just under the headlights, and a restyled hood which sloped forward and down over the grille. The integral hood scoop had a flatter profile and the contour of the front lower apron was subtly changed. The GT350 rocker panel stripes were removed and replaces by chrome "GT350" letters about the same size, along with two half-inch wide pieces of chrome trim which ran along the rocker panel and the lower door edge, approximately where the top and bottom of the original stripe would have been.
The most dramatic styling treatment came at the rear window. The original Mustang window was removed and replaced by one which was custom fabricated. It wrapped around the sides of the roof's sail panels. Inside, the seats were upholstered in black and white and a console was fabricated which mounted a Cobra tachometer in the center of the dashboard, where the radio had been. The car also had chrome Mustang styled steel wheels.
It is not known if the Shelby Zagato was displayed at any automobile shows in Europe. It was never returned to the US and was discovered in a junkyard in 1974. After being rescued and mechanically refurbished, it was raced over the next fifteen year in Swiss amateur sports events by its present owner who wishes to remain anonymous.
Info and pics courtesy of www.ponysite.de