This is for Push Button Start E60 models only
Put the key in ignition. Leave the car in gear and push the "Push to Start Button" but only press it 1 time. Don't worry, car will not start. This is called position 15. All dash lights will light. Now push and hold the Odometer reset button. It will initially light up a warning triangle, continue to hold until the Oil can symbol lights up. The oil lamp should be the first to illuminate. For the oil reset, when the oil can illuminates, let go, then press and hold. After about 3 seconds a message saying "Reset?" will appear. When it does, let go of the button and press it again until the mileage indicator resets itself. That should do the trick, if for some reason you try this and doesn't work then I recommend taking it into a certified BMW shop/dealer and have them reset it for you. They shouldn't charge for a simple reset.