Can't open a Visual studio 2003 project?

If you receive the following message from visual studio 2003

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Microsoft Development Environment
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Project .vcproj' failed to open.
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OK  
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you can open your *.vcprog file with your favorite xml editor and find the "/VisualStudioProject/References/AssemblyReference" nodes make sure all the paths and files are valid.  One will not be, remove it or edit the path save the file and now open it in Visual Studio.

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