91 735il trans problems

ok guys i have a big problem i need some help with. i have a 91 735il with 170,000 miles on it that decided to leave me on the side of the road the other night. i was merging on the highway under hard exceleration in sport mode with the shifter in second gear when all of a sudden the motor starts to free rev. i put the shifter back into drive and still no change. i get a trans program light on the dash and the trans wont go into any gear except park. i tryed reseting the computer by disconnecting the battery, but still no change. i've talk to lots of people and they say it could be the trans comupter, a blown fuse, or a bad torque converter. please help me out. any advise would really help me out. also the car never had any signs of trans problems before and if it is a computer problem where is it on the vehicle.

thanks
dave

Call Kirt Koeller He can be contacted at Autoports Unlimited, 1-800-624-3876 EXT. 5735 or call him directly at 616-748-5735 ( He will answer at this number) Check out the website at www.autosportsunlimited.com

He has been the E32 ZF transmission rebuilder and Guru for a long time.

Have you noticed anything leaking (a red-ish color)? First thing I would do is lift her up and check for tranny leaks, check the level in the trans. Were there any slipping issues before this or did this just come out of nowere?

there are no leaks and there was no slipping before it happened. i didnt have any problems with the car until that night.

thanks
dave

I have the same problem.. Did you ever get it fixed? What was the cause?