the panel is a direct replacement. out with the old in with the new.
if you were looking at an induction kit now that's a differant story. An induction kit has a big cone filter. You have to take out the airbox and all the gubbings below. It;s look the same has henry's does. That's a K&N induction kit.
Demontweeks should be able to give you a price/partnumber for the K&N and probably green air filter and others too. if you goto their website (www.demon-tweeks.co.uk) you'll find their phone number there and they will deliver to your door too.