Yes, 94-95 GT's and Cobras had cats. If it matters, 2 cats per side and 1 oxygen sensor per side, before the cats. You do need the AIR hose hooked up to the midpipe.
Hopefully PA inspections don't count the cats; you can get hi-flow catted midpipes for decent prices. For your sake, I hope the emissions equipment is still intact and all you need is a midpipe.