Engine squeal

[6670charger]

Just bought an 89 E30 316i sedan recently. I've noticed in the past couple of days that the engine makes a loud squeal when I first start it up, and has on a couple of occasions made the same sound shortly afterward when I first put the car in gear and let the clutch out. After that it goes away.

My assumption is a worn fan belt. Is there anything else I should be looking for?

Thanks.

Eric