From TheBestLinks.com
The BMW Z3 was the first modern roadster produced by BMW. It was introduced as a 1996 model year vehicle. There have been many variants of the car since completing its production run in 2002, including a coupe version for 1999. The Z3 was replaced with the BMW Z4 in 2004.
North American motor variants:
M Roadster
In 1998 the Motorsports division of BMW produced the M Roadster (also called the MZ3) which included suspension upgrades and wedged the 3.2L S52 motor from the E36 M3 into it with a true dual exhaust. There were also interior upgrades with additional gagues in the center console, lighted "M" shift knob, various chrome bits throughout the cockpit and sport seats as standard equipment. Exterior changes were staggered, bigger wheels and a different rear end from "regular" Z3s. Hardtops were available.
Coupe
There was a coupe version (and M Coupe) produced in 1999 which included a stiffer frame with higher spring rates.
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