Cannot open Powerpoint Error 0xc0150002

Can someone please help me with the following.
I am no longer able to open Powerpoint. I get the following error.

"application failed to initialize properly" (0xc0150002)


Yes, I am well aware of the Microsoft article

http://support.microsoft.com/default.aspx?scid=kb;en-us;822520

It says to reinstall service pack SP1a. But everytime I try that, it says I already have the necessary components. If I try to uninstall the original SP1a, I get errors and it won't work.

Other searches I have done have lead me to conclude it could have something to do with the Microsoft Net Framework 1.1 . I also cannot reinstall this.

Any thoughts would be greatly appreciated!!!

Greg