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5.0L (1979-1995) MustangTechnical discussions on 5.0 Liter Mustangs within. This does not include the 5.0 from the 2011 Mustang GT. That information is in the 2005-1011 section.
Why is it that you would want to replace a 5.0 w/ a 281? If it's performance there are a ton of bolt-ons and stuff for the five-oh, a lot of cheap common stuff. If it is performance, personally I'd just keep the 5.0 and modify it