It is likely you are looking for a 32bit file. On a 64bit OS, System32 is the 64bit location of the file. Look in SysWow64 and see if you get better results.

%systemroot%\syswow64


I use the following UDF to avoid this problem.
 Code:
function System32()
  $System32="%systemroot%\" + iif(@onwow64,"syswow64","system32") 
endfunction