Couple of customers reported that he face a strange error with Outlook 2007/2003:
When you start any of the Microsoft Office 2007 or Microsoft Office 2003 programs, you may receive an error message that is similar to the following error message:
Your system is low on virtual memory. To ensure that Windows runs properly, increase the size of your virtual memory paging file. For more information, see Help.
If you click OK, you may receive the following error message:
Your system is low on virtual memory. Windows is increasing the size of your virtual memory paging file. During this process, memory requests for some applications may be denied. For more information, see Help.
This behavior may occur if you try to start any of the programs included in Office on a computer where the paging file value setting is too low.
To get resolution, please find the following Microsoft Support KB, which provides resolution for the issue.