Auto-attach to process '[2440] w3wp.exe' on machine '...' failed. Error code 0x8013134b

I was facing this error "Auto-attach to process '[2440] w3wp.exe' on machine '...' failed. Error code 0x8013134b" when trying to debug an ASP.Net application using VS.Net2003 IDE. I have also installed beta version of VS.Net2005 in the same machine. When VS.Net2005 is installed, new tab ASP.net is added in IIS under default website. In the ASP.Net tab we can mention the which version of ASP.Net to run. I Changed the version to 1.1 and I was able to debug the code.