|Hi Grasshopper, thanks for your reply.|
In Ami Bios 5 beeps indeed may indicate problems with CPU (or Mobo). However I discovered from the vendor's site that 5 beeps for this particular mobo means Graphics error.
Finally i accidentally solved the issue!!!!!!!!!!!!!
It seems that the system was looking for an attached primary monitor and could not find one.
1) The mobo has HDMI - DVI - VGA as monitor connection options.
2) After assembleing, i connected a VGA cable to the monitor.
3) Everything booted fine, except for that nagging 5 beeps.
4) When i decided to test the mobo's ability to control two monitors, i connected also a HDMI cable.
5) Upon my next reboot.... NO MORE BEEPS !! :-)
6) Also after i removed the HDMI cable and rebooted ... NO MORE BEEPS!!!
My guess is that those beeps are like when you do not connect a keyboard to your system; the system then warns that there is a componant missing, but continues to boot. Which is also what happened in my case! After the first connect to HDMI the system must have configured somthing.