HarryN
Assuming you are working on a M44, no that is not the correct part. Here it is, from Pelican:
http://www.pelicanparts.com/cgi-bin/...alley%20Gasket the part number is 1112124794, which can be seen here:
http://www.realoem.com/bmw/showparts...62&hg=11&fg=15 as item 12.
Also, be careful with the goofy plastic oil supply pipe on the inside of the valve cover - they will break.
RAS