In 1990, Ford desired to increase the sales and visibility of the Mustang convertible, now 4 years since the last major update. They introduced the Deep Emerald Jewel Green 5.0 LX convertible. This car became the basis on which the later limited edition convertibles were created.
All of these limited editions started life out as LX coupes (as all prodcutions convertibles were) and were sent to Car & Concepts to have the roofs removed and special white tops installed. All the cars had Preferred Equipment Package (245A) and the Special Edition Package (562) installed. The 562 package consisted of Deep Emerald Jewel Green metallic paint, color keyed body side moldings and mirrors, white leather Mustang GT style seats, white interior trim (dash, door panels, armrests, rear seat), and the Mustang GT's 15" turbine wheels(instead of the 10 hole LX wheels). The only other options were Automatic Transmission, rear axel ratio, and a engine block heater.
These limited edition Mustangs are sometimes called the "7-UP" cars. The color and option package originally came about for a co-promotion with 7-UP. As part of a planned $20 Million in prizes, 30 of these cars were to be given away following the NCAA Final Four championship in April, 1990. A heavy amount of promotional and advertising displays featuring the car were to be displayed nationwide. Unfortunatly the whole deal fell through and 7-UP never ended up promoting the cars, for what reason is still unknown. The 30 cars ended up going to 7-UP employees in an internal contest.
The most reputable estimate on how many of these cars were produced is 4103 with 261 of them built for export. Of those, 2743 came with automatic transmissions