MSB4019 error

[wsadiq]

I have a project in which I am building many targets. All my targets which are executables or dlls build fine. However, my web service and a web application fail to build. They fail with the following error :

ConfigurationStore.csproj(68,11): error MSB4019: The imported project "K:\Program Files\MSBuild\Microsoft\VisualStudio\v8.0\WebAppli cations\Microsoft.WebApplication.targets" was not found. Confirm that the path in the <Import> declaration is correct, and that the file exists on disk.

Here is the information from Help->About->InstallInfo in my VBP.

Visual Build Professional 6.7
Registered to: Brierley+Partners (1-computer license)
Windows Version: 5.1.2600.2.0
Install path: K:\Program Files\VisBuildPro6
SftTree_IX86_U_50.dll version 5.06
unins000.exe version 51.49.0.0
VisBuildCmd.exe version 6.7.0.1
VisBuildPro.exe version 6.7.0.2
VisBuildBld.dll version 6.7.0.1
VisBuildBurn.dll version 6.7.0.1
VisBuildCore.dll version 6.7.0.1
VisBuildDotNET.dll version 6.7.0.0
VisBuildExt.dll version 6.7.0.1
VisBuildLog.dll version 6.7.0.1
VisBuildMisc.dll version 6.7.0.1
VisBuildMS.dll version 6.7.0.1
VisBuildMS2.dll version 6.7.0.1
VisBuildNet.dll version 6.7.0.1
VisBuildSvr.dll version 6.7.0.1
VisBuildSvr.Interop.dll version 1.0.0.0
VisBuildVCS.dll version 6.7.0.1

Can anybody provide with me a clue as to what is wrong?

Thanks.

Waqar