[from Autoblog]

This morning, Ford announced that the mighty King of the Road Shelby GT500KR will be making a return in the spring of 2008 — just in time to celebrate the 40th anniversary of the original. Only 1,000 of these special Mustangs will be built, and they will definitely be the fastest ones yet! The team at SVT is tweaking the 5.4L supercharged V-8 with new calibrations, a cold-air induction kit and 3.73:1 final drive ratio. The KR will be rated at 540hp/510lb-ft of torque, making it the most powerful Mustang ever.
The Shelby Cobra GT500KR returns as debuted in the New York Auto Show

• Celebrating the fortieth anniversary of the original Shelby Cobra GT500KR, Ford and Shelby collaborate on a new ‘King of the Road’ Mustang with the 2008 Shelby GT500KR.
• Shelby GT500KR features an estimated 540-hp 5.4-liter supercharged V-8 with a Ford Racing Power Upgrade Pack, 3.73:1 rear axle ratio, short-throw shifter, and unique suspension tuning.
• Exterior design draws inspiration from the classic Shelby KR Mustangs and features unique carbon composite hood, wheels, and special 40th Anniversary badging and unique striping.
• Shelby GT500KR arrives in spring 2008 in an exclusive run of only 1000 units.

MSRP: $41,676 | Estimated Street Price: Above $60,000

Full specs and link to gallery after the jump:

2008 Ford Shelby GT500KR – Specifications and Design Highlights

• 5.4-liter supercharged V-8 producing an estimated 540-horsepower and 510 ft.-lbs. of torque
• Ford Racing Power Upgrade Pack featuring revised calibration and cold air intake system
• 6-speed manual transmission with 3.73:1 rear axle ratio
• Ford Racing performance exhaust system
• Unique performance suspension tuning: springs, dampers, and stabilizer bars
• Shelby-designed ‘GT500KR’ 20-inch wheels (18-inch version for production)
• Ford Racing short-throw shifter and front strut tower brace
• Unique carbon composite hood featuring classic Shelby ‘KR’ design
• Front brake cooling ducts
• ‘Shelby’ lettering across the front edge of hood and rear decklid
• 40th Anniversary badges on the front quarter panels
• Carroll Shelby signature embroidered headrests and floor mats
• Official Shelby CSM 40th Anniversary GT500KR dash plate

Link to Autoblog Gallery for Shelby GT500KR