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Lotis Elise Sport 135 was first launched as a limited run of 50 cars in November 1998 (VINs: ##5401-5450). It has some improvements to increase the power of K-series engine from 118bhp to 135bhp but actually haing about 145 bhp. Other additions include close-ratio gearbox, sports exhaust, drilled brake discs (cast iron), blue tinted metallic silver paint (Quicksilver), dark blue hood, corbeau sport seats, silver roll over bar, racing steering wheel, headlamp covers, driving lights, and unique Sport 135 body graphics. The catalytic converter is replaced by a through pipe which means the car has to be homologated and this is the main reason for the limited first production run.

The second batch of cars were produced for the 1999 model year (VINs ##6001-6035) and had 111S wheels, tyres and spats, black painted fuel filler cap, matt finish alloy gear knob and Sport 135 '99' decal.