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The yellow exclamation point close to the center of the odometer looks like an exclamation point surrounded by parentheses. This light means you should check your tire pressure. Once you have checked the air in the tires and remedied any issues, push the "Set" button on the dashboard. The light should disappear.
I recently purchased a 2005 Z4 (76,000 miles), and I just experienced the same thing (beep, then yellow Brake and Triangle Light (w/exclamation point/semicircle appears on dashboard). It is intermittent. Did you ever find a solution?
A yellow explanation point symbol on the dashboard typically applies to the Tire Pressure Monitoring system. A thick ! inside a half drawn flat tire symbol to be complete and comes in yellow color when lit. Under normal vehicle set-up, if this indicator stays lit after the power-on selftest, you need to check your tires for any uneven pressures and adjust their pressures to correct specifications. Okay? : )
A red exclamation point inside a circle when lit indicates your parking brake is on, or your brake fluid level is low.
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