Error 1395 during Project 2003 install under XP

[Colin]

Attempting to install MS Project 2003 under WinXP,
install gets to approx 95% then gets this error and rolls-
back the install.

Error 1935. An error occurred during the installation of
assembly component {53EB5CFB-3DAF-4890-ABCD-
4895D28EAAAF}. HRESULT: -2147024864

Looking at the error log it appears like something to do
with msi is "in use" but I can't determine what. The
only technet ref I can find is to do with .NET framework
1.0 install failure.

Any help appreciated