"side-by-side configuration is incorrect" error in VS2005 on Vista

Trying to build a VS2005 project on Vista causes following error:

• Error 39 The specified task executable could not be run. The application has failed to start because its side-by-side configuration is incorrect. Please see the application event log for more detail

This error does not occure in all VS2005 projects. But it occures in all projects having more then one *.resx file (multi language projects for example).
VS2008 is also installed on this PC as well as VS2005 SP1 and VS2005 SP1 Update for Vista.

Following error can be found in the event log:

• Activation context generation failed for "C:\Windows\Microsoft.NET\Framework\v2.0.50727\AL.exe". Dependent Assembly Microsoft.VC90.CRT,processorArchitecture="x86",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.10714.44800" could not be found. Please use sxstrace.exe for detailed diagnosis.

Following instructions from the event log, I have started Sxs tracing with the following command:
          C:\Windows\system32>sxstrace Trace -logfile:C:\temp\sxs.ell (must execute cmd as administrator to be able to start tracing)

Starting build of VS2005 project again and parsing of the generated binary trace log to the text format with the following command:
          C:\Windows\system32>sxstrace Parse -logfile:C:\temp\sxs.ell -outfile:C:\temp\sxs.log
results with the following informations in the generated log file:

 =================
 Begin Activation Context Generation.
 Input Parameter:
 Flags = 0
 ProcessorArchitecture = x86
 CultureFallBacks = en-US;en
 ManifestPath = C:\Windows\Microsoft.NET\Framework\v2.0.50727\AL.exe
 AssemblyDirectory = C:\Windows\Microsoft.NET\Framework\v2.0.50727\
 Application Config File = C:\Windows\Microsoft.NET\Framework\v2.0.50727\AL.exe.Config
-----------------
INFO: Parsing Application Config File C:\Windows\Microsoft.NET\Framework\v2.0.50727\AL.exe.Config.
INFO: Parsing Manifest File C:\Windows\Microsoft.NET\Framework\v2.0.50727\AL.exe.
 INFO: Manifest Definition Identity is al,processorArchitecture="X86",type="win32",version="1.0.0.0".
 INFO: Reference: Microsoft.VC90.CRT,processorArchitecture="x86",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.10714.44800"
INFO: Resolving reference Microsoft.VC90.CRT,processorArchitecture="x86",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.10714.44800".
 INFO: Resolving reference for ProcessorArchitecture x86.
  INFO: Resolving reference for culture Neutral.
   INFO: Applying Binding Policy.
    INFO: Find publisher policy at C:\Windows\WinSxS\manifests\x86_policy.9.0.microsoft.vc90.crt_1fc8b3b9a1e18e3b_9.0.21022.8_none_60a5df56e60dc5df.manifest
    INFO: No binding policy redirect found.
   INFO: Begin assembly probing.
    INFO: Did not find the assembly in WinSxS.
    INFO: Attempt to probe manifest at C:\Windows\assembly\GAC_32\Microsoft.VC90.CRT\9.0.10714.44800__1fc8b3b9a1e18e3b\Microsoft.VC90.CRT.DLL.
    INFO: Attempt to probe manifest at C:\Windows\Microsoft.NET\Framework\v2.0.50727\Microsoft.VC90.CRT.DLL.
    INFO: Attempt to probe manifest at C:\Windows\Microsoft.NET\Framework\v2.0.50727\Microsoft.VC90.CRT.MANIFEST.
    INFO: Attempt to probe manifest at C:\Windows\Microsoft.NET\Framework\v2.0.50727\Microsoft.VC90.CRT\Microsoft.VC90.CRT.DLL.
    INFO: Attempt to probe manifest at C:\Windows\Microsoft.NET\Framework\v2.0.50727\Microsoft.VC90.CRT\Microsoft.VC90.CRT.MANIFEST.
    INFO: Manifest found at C:\Windows\Microsoft.NET\Framework\v2.0.50727\Microsoft.VC90.CRT\Microsoft.VC90.CRT.MANIFEST.
   INFO: End assembly probing.
INFO: Resolving reference Microsoft.VC90.CRT.mui,language="*",processorArchitecture="x86",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.10714.44800".
 INFO: Resolving reference for ProcessorArchitecture x86.
  INFO: Resolving reference for culture en-US.
   INFO: Applying Binding Policy.
    INFO: No publisher policy found.
    INFO: No binding policy redirect found.
   INFO: Begin assembly probing.
    INFO: Did not find the assembly in WinSxS.
    INFO: Attempt to probe manifest at C:\Windows\assembly\GAC_32\Microsoft.VC90.CRT.mui\9.0.10714.44800_en-US_1fc8b3b9a1e18e3b\Microsoft.VC90.CRT.mui.DLL.
    INFO: Did not find manifest for culture en-US.
   INFO: End assembly probing.
  INFO: Resolving reference for culture en.
   INFO: Applying Binding Policy.
    INFO: No publisher policy found.
    INFO: No binding policy redirect found.
   INFO: Begin assembly probing.
    INFO: Did not find the assembly in WinSxS.
    INFO: Attempt to probe manifest at C:\Windows\assembly\GAC_32\Microsoft.VC90.CRT.mui\9.0.10714.44800_en_1fc8b3b9a1e18e3b\Microsoft.VC90.CRT.mui.DLL.
    INFO: Attempt to probe manifest at C:\Windows\Microsoft.NET\Framework\v2.0.50727\en\Microsoft.VC90.CRT.mui.DLL.
    INFO: Attempt to probe manifest at C:\Windows\Microsoft.NET\Framework\v2.0.50727\en\Microsoft.VC90.CRT.mui.MANIFEST.
    INFO: Attempt to probe manifest at C:\Windows\Microsoft.NET\Framework\v2.0.50727\en\Microsoft.VC90.CRT.mui\Microsoft.VC90.CRT.mui.DLL.
    INFO: Attempt to probe manifest at C:\Windows\Microsoft.NET\Framework\v2.0.50727\en\Microsoft.VC90.CRT.mui\Microsoft.VC90.CRT.mui.MANIFEST.
    INFO: Did not find manifest for culture en.
   INFO: End assembly probing.
INFO: Parsing Manifest File C:\Windows\Microsoft.NET\Framework\v2.0.50727\Microsoft.VC90.CRT\Microsoft.VC90.CRT.MANIFEST.
 INFO: Manifest Definition Identity is Microsoft.VC90.CRT,processorArchitecture="x86",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.21022.8".
 ERROR: Component identity found in manifest does not match the identity of the component requested. Reference is Microsoft.VC90.CRT,processorArchitecture="x86",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.10714.44800". Definition is Microsoft.VC90.CRT,processorArchitecture="x86",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",version="9.0.21022.8".
ERROR: Activation Context generation failed.
End Activation Context Generation.

For any reasons, the version of the AL.exe in my .NET 2.0 folder (C:\Windows\Microsoft.NET\Framework\v2.0.50727\) was pretty old (9.0.11209.0). Fortunately, I found some newer version (9.0.21022.8) in the folder "C:\Program Files\Microsoft SDKs\Windows\v6.0A\bin" of my PC. Replacing of the old version with the new one has resolved my problem.