Outlook 2k Administrator Rights

With a new Office 2K Professional install, on top of a new
Windows 2K install.

I receive an error when trying to launch Outlook:
(I am logged on as Administrator)

"Cannot start Microsoft Outlook. Outlook cannot be
configured because Administrator privileges are required
for you to install some types of software on this
computer. Before you can use Outlook, you must either log
on to your computer as an Administrator and finish
configuring Outlook, or ask your System Administrator to
configure Outlook e-mail support for you".

I have logged in as Administrator, even installed Office
2K while loggged in as Administrator. Still get the same
error and can not open Outlook. Have checked securtity
levels of all users. Have applied all up-to-date upgrades
from Microsoft for Windows and Office.

DETAILS NOTED:
Had a Windows 2K system crash. Tried to repair and re-
install the current install of Windows 2K, didn't work.
Decided to do a fresh install. Had to choose another
folder for the Windows 2K install (WIN2K). Wanted to leave
the old Windows 2K install intact until I was able to move
over any programs to the new install. New install of
Windows is now up and running great. Outlook has the
problem.

 

I'd be recreating the admin profile.