I'm pretty sure that the 1999 model/year was the first year to offer variable valve timing (vanos), and I think the BMW motor you are looking for is the M62tu.
The 1995 model year 740 came with the M60 motor.
The 1996-1998 model year 740 came with the M62 motor.
The 1999-2001 model year 740 came with the M62tu (vanos) motor.
You should go to the dealer with the vin# and get the correct info there though since your car was made in a transitional year where they changed from a normal motor to a variable valve timing motor.