The IE super short shifter is a great way to improve the shift feeling in your E39.
1997-2003 E39 540i sport 6-speed
2000-2003 E39 M5 sedan
This shifter offers a 50% reduction in throw while reducing the flex found in a factory lever. This kit includes all of the hardware needed (including a new OEM Lock pin), except for a shift knob. You can reuse your stock shift knob or choose one of our optional knobs.
1) Accepts OEM shift knobs.
2) The billet cup raises the lever’s pivot point which allows for a longer throw without the threat of driveshaft contact.
3) The lever has an integrated stainless steel shifter ball (as opposed to the factory plastic shift ball).
4) Sealed roller bearings at the bottom of the shifter (as opposed to the factory plastic bushing).
You can download installation instructions here.