Can Shimano HB-M495 Hubs be opened and fixed?

goonster
goonster Posts: 6
edited May 2009 in MTB workshop & tech
Hi all,
I picked up a Specialized a while back that needs some work doing to it.
It came with Alex Rims DP20 Disc wheels, and the following problem.
The rear hub is a Shimano HB-M495, and appears to be shot.
The wheel wobbles from side to side and makes a dull squeaking sound whilst riding.
I was lead to believe by the seller that this can easily fixed by tightening it!

So can it be fixed easily?
Or should i just bite my lip and buy a new wheel?

Many thanks,
G.

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