Check Engine Light plus brake/ABS light on - speedometer stops working

If the brakes were just worked on, check that one of the wheel speed sensors was not damaged or left disconnected, this will cause the issue you describe. If a shop performed the work, take it back to them and have them check it out.

My car had this issue as well and all I needed to do was replace the instrument cluster. You can buy a used one online fairly cheap.

Check out this posting.. it can help you http://www.bimmerwerkz.com/forum/5-series-e12-e28-e34-e39/e39-abs-traction-control-light-58708.html

This just happened to me last night! Got a flat tire on the interstate, shut off the car, put on the parking brake, changed the tire. Turned the car back on, suddenly the traction control and brake light was on AND the speedometer wasn't working any more. I had my front brakes and rotors redone about a month ago, but it was fine then. Nothing happened until I had to change the flat tire. I have a 2002 BMW 330Ci Convertible, but similar issue . . .