Asp.net Web service Loading problem

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C#

ASP.NET

Hi,
I have i am facing a problem with my web application,i have a WebService project in my web application, on runing the VS it is showing the below warning message and after loading the WebService project appears as unload when i try to load it the it shows the following error message

The Web Application project is configured to use IIS. To access local IIS websites, you must install the following IIS components:

In addition,you must run Visual Studio in the context of an administrator account

For more information, press F1.

My System account has administrator previlidiges,i also have tried running it with and administrator account but still having the same error

I also tried to running VS using context menu's runas administrator but still the same problem

I have windows 7 and Visual Studio 2008