TFS 2010: Email alerts are not working

I'm using smtp4dev to send email alerts from TFS. I'm using Windows VIsta. In TFS administration Console->Email Alert Settings, I set SMTP server as localhost and Email from Address is my mail id. In Visual Studio 2010, Team->Project Alerts, I enabled "Anything is checked in" and gave another email id in Send to field. After my checkins, I didn't receive any email. smtp4Dev is visible in system tray.

In Event Viewer, I found the below Error,

TF53010: The following error has occurred in a Team Foundation component or extension: Date (UTC): 12/3/2012 6:07:33 AM Machine: MACHINE112 Application Domain: TfsJobAgent.exe Assembly: Microsoft.TeamFoundation.Framework.Server, Version=10.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a; v2.0.50727 Service Host: Process Details: Process Name: TFSJobAgent Process Id: 2804 Thread Id: 6996 Account name: NT AUTHORITY\LOCAL SERVICE

Detailed Message: TF271001: An error occurred while attempting to send an e-mail notification to the following address: yyyy@example.com. Further e-mail notification errors that occur within the next five minutes might not be logged. Verify that the e-mail notification settings are correct in the Team Foundation Administration Console. Exception Message: Failure sending mail. (type SmtpException)

Tags: TFS