Not be nit-picky but the change happened with the '94 model. The changes included: new name (Ninja 500R instead of just EX500), new fairings, digital electronic ignition, revised 2nd & 3rd gears, 1mm thicker forks, 17" wheels, front and rear disc brakes (the front disc also changed from the left side of the bike to the right with the rim size change), and I think the sprocket got one less tooth also. The model designation changed to EX500D for the U.S. and Canada models, which were named on the bikes as Ninja 500R, and changed to EX500E for the U.K. and Sweden models, which were named on the bikes as GPZ 500S.
Note about the GPZ models: they have dual front discs instead of just the single front like the U.S./Canada models. Yeah, why do we get shortchanged?
Note about the lighting system: As I understand it the Ninja 500s also got a 4 way flasher (hazard) with the update in '94, but on my '04 model the hazards don't exist. I think they removed them recently. I know the '03s don't have hazards either. Anyone know anything about this?
Now for the response to the original poster: If you are 17 I would truly suggest getting a car first and learning how to drive it well. Jumping on a bike when you haven't exactly learned the nuances of traffic can be very dangerous. You should focus on just getting used to being on the road instead of having to add all the extra problems of learning how to pilot a motorcycle safely and correctly. Do this for a couple of years and then get a bike, at which point I would suggest the EX500 (Ninja 500). If you just have to get a bike now I would suggest getting the Ninja 250. It is a tamer bike to learn on as well as cheaper, not only in price but on insurance also. Take care of that lil' Ninja and you can probably sell it close to what you bought it for after riding it a couple of years (provided you don't buy brand new).