Outlook 2003 error

Hi all

I am getting the following error "Can't create file: MySpreadsheet.xls. Right click the folder you want to create the file in, and then click Properties on the shortcut menu to check your permissions for the Folder."
This occurs when trying to open the excel file which is an attachment in outlook. The OS is windows 7, Outlook is 2003. The excel file was also created in office 2003.
Please assist

Thanks