"The Web is not marked as an application in IIS"

I am using IIS 5.1 and .Net 2005. I'm getting an error while opening a .NET appli开发者_Go百科cation as local ISS.

Error - The Web is not marked as an application in IIS.

I have checked the directory in IIS and it seems everything is in right place.

How might I resolve this?

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You need to convert your virtual directory into an application:

http://www.tamilcodes.com/document.aspx?content=Tutorials&id=42