This is from Microsoft's Explanation of Regsvr32 Usage and Error Messages (Q249873), which can be found here: http://support.microsoft.com/default.aspx?scid=kb;en-us;Q249873

quote:
LoadLibrary(" Dllname ") failed. GetlastError returns 0x00000485

From Winerror.h, 0x00000485 = 1157 (ERROR_DLL_NOT_FOUND), which means "One of the library files needed to run this application cannot be found." For example, typing regsvr32 missing.dll returns this error message if the Missing.dll file is not found.
I'm not sure what dll is missing. Try the VB5 runtime and see if that makes a difference.