On November 11, 2002, Mazda Germany announced the Memories II, a new special edition designed to succeed the Memories, which was launched in 2001 and is now often referred to as the Memories I. The Memories II was first unveiled to the public at the Essen Motor Show from November 28 to December 8 of that year. This edition was limited to 1,500 units and was available with either the 1.6- or 1.8-liter engine. The three color options were: Brilliant Black, Emerald Green (Racing Green, Grace Green Mica), and Garnet Red Mica. In the United Kingdom, a very similar special edition was released at that time under the name Montana. However, it was not available in Brilliant Black.

Like the previous Memories editions, this version also features a two-tone interior that combines black and beige. Black is used primarily for the upper part of the dashboard, extending to the top of the doors. A distinctive feature of this model is the wood-grain trim on the center console, complemented by wood accents on the gearshift knob, the parking brake handle, and the steering wheel, which features a Nardi logo.

The interior color is the same as that of the Miracle and the Memories III special editions. The Memories I features a darker beige. The Memories II is equipped with a beige windshield bezel—without speakers—that is typical of that era.

This version can be identified by:
- the colors Garnet Red Mica, Emerald Green Mica, or Brilliant Black
- the black-and-beige two-tone interior;
- a beige tonneau cover and beige windshield bezel without speakers;
- the wood-trimmed steering wheel, wood-trimmed gearshift knob, and handbrake handle;
- a Nardi logo at the bottom of the steering wheel and on the gearshift knob;
- a black radio and wood-grain trim on the center console;
- 5-spoke 16-inch alloy wheels in silver metallic paint, fitted with 205/45/R16 tires;
- fog lights in the front bumper;
- heated seats.
Given the difference in list price—about €2,000—between the 1.6 and 1.8 models, you’ll see the 1.6 much more often than the 1.8.