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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.
Yellow circle, with triangle and exclamation mark – The Electronic Stability Program (ESP) dashboard light flashes if the ESP or traction control is activated whilst driving. If ESP or traction control has been switched off, it will light up continuously. If ESP or traction control is not turned off and the warning light illuminates continuously, it indicates a problem and malfunction with either ESP or traction control.
From Fiat
LOW Brake Fluid / Parking Brake
Either the exclamation mark symbol or the 'BRAKE' dashboard symbol may be used on various models of the Fiat 500. Light should illuminate until engine has started. If light remains on, it signifies the parking / hand brake is on, or that there is insufficient brake fluid in the reservoir. If light illuminates and the handbrake is not applied, braking may become defective. Seek assistance from a Fiat technician immediately.
Check to make sure your parking/hand brake is fully released, sometimes the spring that pushes back on the mechanism isn't strong enough, doesn't push back all the way, and the brake indication switch isn't engaged.
The other possibilities are that the float in the master brake cylinder is stuck (if it has one), or the level sensor has failed.
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?
ESP = Electronic Stability Program malfunction indicator lamp (MIL)
1. You can try to disconnect the battery from car terminals, waiting for 30 minutes and connect again the cables in order to reset the ESP Electronic Control Unit (ECU). 2. If this procedure does not work you must use a diagnostic equipment connected to the Data Link Connector (DLC) of the car. The ESP ECU fault memory can only be accessed and erased using diagnostic equipment connected to the DLC.
Note: ESP function includes ABS (Antilock Braking System) function!
Yellow triangle with exclamation mark
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