SSIS dtexec utility fials to execute package

I get the following output when trying to run an SSIS package against a sql server 2008 installation any ideas on the problem would be appreciated:

K:\TESTSSIS>dtexec /DTS "\MSDB\Package1for2k8" /SERVER tftw-db04 /MAXCONCURRENT
" -1 " /CHECKPOINTING OFF  /REPORTING EWCDI  /SET "\package.variables[inputfile]
Microsoft (R) SQL Server Execute Package Utility
Version 9.00.4035.00 for 32-bit
Copyright (C) Microsoft Corp 1984-2005. All rights reserved.

Started:  10:49:48 AM
Could not load package "\MSDB\Package1for2k8" because of error 0xC00160AA.
Description: Connect to SSIS Service on machine "tftw-db04" failed:
 Class not registered
Started:  10:49:48 AM
Finished: 10:49:48 AM
Elapsed:  0.032 seconds

Press any key to continue . . .
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Check your versions of SSIS against the target database.

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Microsoft SQL Server

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