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<E34> 535 Timing Belt Replacement

The last time I checked under my hood of my '92 535i, I saw 
what appeared to be a timing belt, wrapped around the pulley
of the radiator fan and a few other places. My car is regularly
serviced by the local BMW dealers. Every now and then they mail
these fliers containing coupons on various parts and service 
specials. In the latest flier there was a special for a timing
belt replacement which in the manuals is recommended at 60k mi.
Although my 535i is under 55k mi., I thought it would be a good
idea to take advantage of their special. I called the dealer up
to set an appointment. After telling them the year and model,
they told me that '89-'93 535's do not come with a timing belt.
In addition the service rep. said that a chain belt is used
and that it does not require any tuning. I thought for sure
he was mistaken for the later modeled 525s(E34). This is the
same dealer that I had asked in a previous call whether they
use Zymol on their detailing packages. They claim that they
never heard of the product. I can't help but raise an eyebrow
and consider looking for an alternate service center. What I
really want to know is whether my '92 535i does indeed have
a timing belt or a chain. I looked under the hood after the
call, and I couldn't find a chain or a housing that would
contain one. Are most dealerships unaware of the Zymol product
or are they just playing dumb? A friend of mine bought a 
brand new Mercedes E320 from a different dealer and he had
asked about their recommendation of Zymol. The salesperson
was clue-deprived. 

Look forward to hearing from other E34-535i owners and other
experiences with dealers. BTW - this dealer is the only one
in the Fremont(CA) area. 

Dennis
BMW CCA 125676
Golden Gate Chapter