Since the e38 & e39 are generational cousins/siblings...they share many of the same parts. And since the e38 & e39 series have a 5 & 4 year jump start (respectively) on the e53...we can benefit from many of their DIY and mod/upgrades. Removing the needles can end in disaster if not done correctly...but is simple with the correct tool and technique.
Below you can see a video, and some links to some forum threads that discuss the need to be cautious in removing the needles (btw, I found this info by typing "how to remove needles on bmw cluster" in a google search box
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