Iv got a convertible 330ci 2001 automatic and I was driving on the dual carridgeway and I heard a loud rubbing noise coming from what seemed to be the passangers side footwell. It got louder and louder until suddenly there was a Big Bang and something came flying off the bottom of the engine and my car was smoking from the rear. I lost power steering and the red oil light came on I thought that it must have been the exhaust but when I stopped the car and opened the bonnet the smoke was pouring from the engine. All my oil drained out and my coolant also. Any idea what has happemed?