Cessna announced it was developing a stretched version of the Citation II in 1987. This aircraft would be named the Citation V.
The Citation V is based on the Citation II but features Pratt & Whitney JT15-D5A engines, a slight fuselage stretch of 1.5 feet, and 6 inches more wingspan. Fuel capacity was increased by 167 pounds.
The Citation V Ultra was announced in September 1993. Compared with the Citation V, the Ultra features more powerful Pratt & Whitney JT15D5D engines with 145 pounds of additional thrust. The extra thrust allows a takeoff gross weight increase of 400 pounds, 39 nautical miles of increased range, and a 30-knot increase in normal cruise speed. The flight deck is equipped with the Honeywell Primus 1000 electronic flight instrument system avionics suite.