Is it possible to install a 90 model T5 in a 2004 gt?

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Possible, sure, but why would you want to? The conversion parts are going to cost you a pretty penny and the T5 isn't anywhere near as tough as the TR3650 that replaced it.

You're better off shopping around for a used TR3650 than you are trying to make a T5 work in it's place.
 
The bolt pattern will be different between the two motors. The T5 will not bolt up without a new bell housing.

The next problem will be the speed sensor. That old of a T5 is not going to be compatible with the 99-04 MY OSS sensor.

I have to agree with Gearbanger. If looking for an easy, cheap, plug and play swap, this isn't it.