red exclamation mark warning light

Hi, Either oil level or brake fluid level I think. Check both anyway to be sure... Des. . . ;)

according to my S40 handbook it means: (!) Brake circuit not working (fluid level too low) and EBD

Hi, Just checked my manual and the oil warning is an oil can shape on a red light. The circle with the exclaimation mark IS the brakes... So check the level on a level surface and top up accordingly. You would also be advised to check for leaks from the brake circuit AND the brake pad depth remaining. Sounds like your pads ar a shade thin perhaps.. Des. . . ;)

Low brake/clutch fluid level or defunct sensor or sensor wire short to ground. S40 doesn't have low pad warning feature, it relies on a metal clip rubbing against the disc making a noise which annoys you each time you brake so you investigate and notice the pads need changing! Assuming clip was fitted to the pad by your last mechanic.... Pete

Ah - you are refering to the "Audible Warning System" that isn't mentioned in the hand book :)

This noise that annoys you, what does it sound like? My front right (i think) is making a noise at the moment but its a very high pitched squeek. Why do brakes squeek? It shouldn't be that low as had it serviced only a week or so ago and they reckond there was another 5000 miles left in the pads.

do these cars have hydralic clutches? its not uncommon for a leaky slave cylinder to cause the above....