THE iconic Jaguar E-type is without doubt one of the world's best-known and revered sports cars loved by the rich and famous.

It's a classic which was produced in Coventry from 1961 to 1975 and many of them are still in use today, some after complete restoration and modification by Sussex-based Eagle E-Types.

The company has just announced the completion of its first Eagle Spyder GT which started life as an original E-Type but has been completely rebuilt and modified.

Just a few will be produced and they will be among the most exclusive hand-built cars in the world - a facet reflected in the £695,000 price tag.

As with all Eagle special editions, the Spyder GT begins life as an original E-Type ready to be restored but the new GT's aluminium monocoque features deeper sills, a lower floor pan, wider wheel arches featuring custom 16-in wheels and tyres and folding roof.

Under the bonnet lies a 4.7-litre straight six Jaguar XK engine which offers 330bhp in a car weighing just 1,029kg.

Extensive weight saving measures include a bespoke aluminium body, aluminium gearbox, aluminium engine block and magnesium components.

The engineering carried out by Eagle E-Types blends original and new technology and the Eagle Spyder GT offers blistering performance with a 0 to 60mph sprint of under 5 seconds and pulls hard all the way to its top speed of over 170mph.

Henry Pearman, managing director at Eagle said: "We're really proud of what's been achieved with our E-Type special editions, and the worldwide reaction has made all the years of effort and dedication completely worthwhile.

"The Spyder GT represents the very best of what we do here at Eagle and we'rethrilled to present it to the world."