MScomm32 and VB problem

Hello, I am have a problem with upgrading my Access 97 database to Access 2003. The database works in Access 97 on the Windows 2000 machine, but breaks on an XP machine or if I upgrade to Access2003.
The problem comes from MSCOMM32.ocx Active x is unable to create the object. Below is the code, which works in 97 and Access tells me should work in 2003. Any thoughts on what is wrong?

Dim Comm As MSComm
Set Comm = New MsComm <----this is the line that will not work.

I have a reference to Mscomm32.oxc in the database.

Thanks!