SCOTTSDALE, Ariz., Jan. 21, 2006 - One lucky bidder's automotive dreams will come true today. Ford has teamed up with Barrett-Jackson to auction off the right to own the first 2007 Ford Shelby GT500 coupe offered for public sale at the 35 th Anniversary Barrett-Jackson “World’s Greatest Collector Car Event.” The 475-horsepower Ford Shelby GT500 – the most powerful factory-built Mustang ever produced – will go into production this summer. Proceeds from this auction will benefit the Carroll Shelby Children’s Foundation, which provides financial assistance to children with acute cardiac disorders or those in need of organ and tissue transplants.

Shelby is a legend among racing fans and car enthusiasts. He won the grueling 24 Hours of Le Mans in 1959, but soon retired from racing because of heart disease. Out of racing but far from retired, he went on to spearhead the development of the Ford GT40 race cars, which ended Ferrari’s dominance of Le Mans in a dramatic 1-2-3 finish in 1966.

In the same era, he built the legendary Cobra roadsters and super high performance Shelby GT350 and GT500 Mustangs between 1965 and 1970.

Ford and Shelby later reunited to develop the Ford GT concept car, a modern interpretation of the Ford GT40, into the full-fledged, road-going supercar that debuted at Ford’s Centennial Celebration in 2003. After that, Shelby has advised Ford on the development of the new Ford Shelby GT500, which will carry a base price in the low $40,000 range.

At 83 years of age, Mr. Shelby is the oldest and longest-living double-organ recipient. He received a heart in 1990, and his son Mike donated a kidney to him in 1996. He created the Carroll Shelby Children's Foundation in October 1991 to provide financial assistance for acute coronary and kidney care for young people.

“I had a summer job as a teenager working at the skunk works that brought us the original Shelby GT500, back in the mid-60s, and I thought there could never be a car as cool as that one,” said Edsel Ford, who will present the car for auction with Carroll Shelby. “Thank goodness I was wrong.”

“The new Shelby GT500 is an amazing American car that will offer fantastic performance,” said Shelby. “This was a rare opportunity to own a very special car while also helping so many children that desperately need medical assistance.

“It's fitting that Ford would choose to auction the first one available to the public at Barrett-Jackson, America's auction house, which has helped raise so much money for charities over the years,” he added.

“Only Ford Motor Company and Shelby American have sold more genuine Ford-powered Shelby vehicles than the Barrett-Jackson auction over the past 35 years,” said Craig Jackson, president and CEO of the Barrett-Jackson Auction Co. “I'm proud that Ford and Carroll Shelby chose to offer the rights to the first 2007 Shelby GT500 coupe at our auction, where only the finest, authentic Shelby vehicles are offered to the public.”

At the Barrett-Jackson event, a total of 19 vintage Shelby cars will be sold at no reserve, including a striking, second owner 1968 GT500 “KR” convertible, the first 1965 Shelby GT350SR 40th anniversary model, one of only 1,000 built “Hertz” GT350s, a rare triple white 1970 GT500 convertible and a stunning, award-winning restored 1965 GT350

In April of 2005, the first 1968 Shelby GT500E convertible sold for a world-record $550,800 including auction fees at Barrett-Jackson’s Palm Beach Collector Car Auction. After a spirited bidding battle for the top spot, the winning bidder captured the first documented Shelby GT500E convertible in the world.

The 2007 Ford Shelby GT500 is a modern interpretation of that iconic “King of the Road” Mustang. With Shelby's input, Ford Special Vehicle Team engineers have fashioned the fastest Mustang ever, including upgraded suspension and brakes, distinctive exterior and interior and of course, a thoroughbred powertrain.

The heart of the new Shelby GT500 is its supercharged 5.4-liter, 32-valve V-8, which shares some components with the engine in the Ford GT supercar to help make it the most powerful factory-built Mustang in history. With 475-horsepower and 475 lbs.-ft. of torque on tap, the Shelby GT500 has attained a higher factory rating than even the 1969 Mach 1 428 Super Cobra Jet or the legendary 1969 Boss 429.

“I've long said that my energy and passion for performance products has always been strongest when it involved a vehicle from Ford,” Shelby said. “I couldn't be prouder than I am today to be part of recreating GT500 history with the only automotive company that holds the key to my heart.”

As a 501 (c) 3 non-profit organization, the Carroll Shelby Children’s Foundation (CSCF) depends solely on individual and corporate contributions for funding. Under IRS code regulations, donations to CSCF are tax deductible. All donation monies go directly to the operation and support of the foundation and its programs.

Ford Motor Company, a global automotive industry leader, is based in Dearborn, Mich. For more information regarding Ford’s products, please visit www.fordvehicles.com.