I have a 99 Boxster with the same amount of miles and this happened to me last month. The more I increased the fan speed, the louder the noise got.
I thought I was in for a $500 fan motor, but it turns out that there is insulation near the fan that falls down over time. I took it to my local repair shop and they fixed it for less than $100. If you are mechanically inclined (I am not), you could fix this yourself.
I hope you are as lucky as I was.
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1999 Porsche Boxster Built in Germany
Arctic Silver / 17" Wheels
Full leather Interior / Tiptronic
Heated Seats / Cruise
Traction Control / Factory Hardtop
Bumper Plugs / Zaino Z2 Z6 Z8
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