OotD craches after installation

I am using Windows XP SP3 (Polish edition) and Outlook 2003 SP3. The OotD installs but when run displays error message:

There was an error initializing the application: System.Runtime.InteropServices.COMException(0xD8B20009): Exception HRESULT: 0xD8B20009 in OutlookView.IOVCtl.set_View(String pVal) in AxOutllokView.AxOVCtl.set_View(String value) in OutlookDesktop.MainForm..ctor(String instanceName).

If one clicks OK on this error the application runs from toolbar, however any attempt to change something - eg. display Calendar, or save settings etc. results in an error rendering the application unusable :-(