error help?

I created a linked server to access information in an excel spreadsheet
by using this code:

exec sp_addlinkedserver N'LINKEXCEL_OL',
@.srvproduct = N'',
@.provider = N'Microsoft.Jet.OLEDB.4.0',
@.datasrc = N'C:\dt.xls',
@.provstr = N'Excel 8.0;'

I created a login using this code:

EXEC sp_addlinkedsrvlogin 'LINKEXCEL_OL', 'false'

and I tried to run a query using this code:

select * from openquery(LINKEXCEL_OL, 'select * from [Sheet1$]')

Everything is ok until the select when I get this very descriptive error(sarcasm):

OLE DB provider 'Microsoft.Jet.OLEDB.4.0' reported an error. The provider did not give any information about the error.
OLE DB error trace [OLE/DB Provider 'Microsoft.Jet.OLEDB.4.0' IDBInitialize::Initialize returned 0x80004005: The provider did not give any information about the error.].

Does anyone have any suggestions? I am very lost and do nto see why this wouldn't work..May check this KBA (http://support.microsoft.com/default.aspx?scid=KB;en-us;Q314530%20.).