Backup Exec Agent for Windows - Install fails

I'm attempting to install an agent on a Windows 2003 R2 server (recently upgraded from Windows 2000) and the job fails with the following message:

Final error: 0x80131700 - 0x80131700 (2148734720)

Final error category: Other Errors
Completed status: Failed

Media server:  Windows Server  208 R2 (VM) (backing up to disk storage)

Application:     Backup Exec 2012 Version 14.0 Rev. 1798 (64-bit)

I have installed the agent successfully on three other (upgraded from Win2k) Windows 2003 R2 servers. Only this one is having issues. Are there any settings I need to check on this client?

Regards,

Paul