The historic Apollo-Soyuz Test Project took place on 15 July 1975, marking the first international manned space mission conducted cooperatively by the United States and the Soviet Union. The mission ended two days later, on 17 July, with the American Apollo docking with the Soviet Union's Soyouz spacecraft. Not only was this a significant and memorable milestone for space reconnaissance, it was also widely regarded as the end of the ‘space race’ that had begun in 1957 with the launch of Sputnik 1.

A year later, Omega celebrated the space mission with this limited edition of 500 Speedmasters for the Italian market only, sold by distributor De Marchi. The dial of this limited series features the mission logo at 12 o'clock, as well as long markers and no Speedmaster Professional indication. The Apollo-Soyouz chronograph pushers have a slightly larger diameter, 5.5 mm, instead of the usual 5 mm, which makes the case very different from the standard version.

The present specimen is in excellent condition, probably never used, has an unpolished solid case, a perfectly stretched bracelet and still bears the sealing wax on the case back, as well as being accompanied by the rare Plexiglas box. In addition, this particular watch bears the limited edition number 496/500 on the case back and is therefore one of the last four watches produced in this very rare limited edition.