System.Net.Mail.SmtpException: Cannot get IIS pickup directory.

Help!!!

I setup a new computer for my development.  I re-installed VS2005 and the service pack.  All Windows XP updates have been applied.  I am now getting the following error when I try to send e-mail.

A first chance exception of type 'System.Net.Mail.SmtpException' occurred in System.dll
"System.Net.Mail.SmtpException: Cannot get IIS pickup directory.
   at System.Net.Mail.IisPickupDirectory.GetPickupDirectory()
   at System.Net.Mail.SmtpClient.Send(MailMessage message)
   at ITCClass.ITCCom.DoEmail() in C:\DotNetProjects\ITCClass\ITCClass\ITCCom.vb:line 586"

Here is the code:

 Public Sub DoEmail()
        Dim MAdd As String = "me@us.com"
        Dim FromAdd As New MailAddress(MAdd)
        Dim Attach As String = "c:\export\RMDSAPAR_20070123.txt" ' Test for an attachment
        Dim MessAtt As New Attachment(Attach)
        Dim x As String, EMailSuccess As String
        Dim MailObj As New System.Net.Mail.SmtpClient("isasrv.main.dataserv.net")
        Dim Mess As New MailMessage
        Dim Subject As String, Body As String, Username As String
        FromAdd.Address.Insert(0, "me@us.com")
        Subject = "Test E-mail"
        Body = "This is a test e-mail"
        Mess.From = FromAdd
        Mess.To.Add("me@us.com")
        Mess.To.Add("bad_add@us.com") ' To test what happens when a bad address is sent
        Mess.Attachments.Add(MessAtt)
        Mess.Subject = Subject
        Mess.Body = Body
        MailObj.DeliveryMethod = SmtpDeliveryMethod.PickupDirectoryFromIis
        MailObj.UseDefaultCredentials = True
        Try
            MailObj.Send(Mess)
        Catch ex As Exception
            x = ex.ToString
            EMailSuccess = x
        End Try
    End Sub

This worked like a champ on my old computer but fails on the new one.  I am using the same user account on both and am connected to the same network.   I have looked and cannot find a resonable solution.