sounds like it.... to get to the clutch release bearings you need to get to the clutch, so not a cheap job. Chances are in most cases is your release barings are going your clutch is probably on its way out (not in all cases or not in the very early days of your release baring becomming noisey though), it is something thats done though when your clutch is changed.
Whats your current milage and when was the clutch last changed?