Get a couple of stereo removal keys. yank out the tray underneath it first (easiest way to do it). Keys in, push in and towards (or away from I cant remember) the centre, and pull. Job done :D
 
from what i can remember there are 2 gaps in the bottom left and bottom right, push em in and they should clip out

take out the bottom plastic to help get it out
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Bmw 326 History
 
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You can get the removal keys from Halfords - See here
These slot into the horizontal holes underneath the "1" & "Scan" buttons either side of the unit.

I tried cable-tidys, strips of plastic etc. beforehand and it wouldn't budge!

You may also need a DIN - ISO aerial adapter depending on the aerial connection of the new head unit.
 
if you're planning on swapping for an aftermarket HU, they usually supply you with their removal keys anyway, at least Pioneer does. when i did mine, the left side seemed to be a bit stubbern and was almost about to break off the 1 key doing so.