WEB Service ERROR-- Exception from HRESULT: 0x800700C1

Hi
I am getting the following error when i call one third party component form web services.
Exception from HRESULT: 0x800700C1 .
same component is working fine when i use in c# windows environment.
Problem is only when i use in web services (some other 3rd pary components are working fine even in web services).
I am using .net 2003 .net framework version 1.1, windows xp

Could somebody please help me to resolve this issue
regards,
kareddy