Volvo Repair: Squealing Noise in 03 S60 AWD, wheel drive cars, heavy downpour

Question
The other day I was driving on the highway in a heavy downpour.  My car started making this loud squaealing noise coming from the center of the car.  It lasted approx 15 sec.  The car has 29K miles on it and is under warranty.
Any idea what that is?

Answer
On all wheel drive cars the exhaust touches the drive shaft.  When you go through a puddle it splashes up on the exhaust causing it to cool rapidly.  It bends when it does this and thats where the contact comes from.  There is a fix for it.  A new bracket will be installed near the center resonator to prevent the exhaust from moving like that in the future.  It is covered under warranty.  Just describe the problem to the dealer the same as you did to me and they will know exactly what is wrong and what to do.

James