The BMW E38 model was the basis for the 1995 through 2001 BMW 7 Series automobiles. The E38 models were offered with either a five-speed automatic or manual transmission. The 740i/iL were powered by a 4.4 L V8 engine. V8 and V12 cars had long-wheelbase variants, with the "L" added to the designation.
Features of the E38 7 Series included high-pressure headlight washers, auto-leveling xenon HID headlamps, power moonroof, a sound system with 14 speakers and four subwoofers as well as 6-disc CD changer, onboard satellite navigation and rain-sensing wipers. Other features included an automatic climate control system with separate controls for the driver and passenger, a three-position memory system for the driver’s seat, safety-belt height, new steering wheel and outside mirrors. Front-seat side airbags and a Head Protection System (HPS) were also standard. The 750iL featured an all-leather interior with burl walnut trim, while the sport model featured Sports seats and "Vavona" wood trim .
Source: Wikipedia, 2012